CIT Bank Premier High Yield Savings Account

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Looks like the CD interest rate war between banks is increasing. CIT Bank announced Spring savings account couple of months back with 1.15% APY. Now they announced Premier high yield savings account with 1.30% APY which is 20 times higher than national average savings rate.

Most financial experts recommend saving at least 3-6 months of your income as an emergency fund. That's a lot of money sitting idle but I can't disagree with them. We definitely don't like our funds sitting idle. What is the best place to park these reserves in cash? As a matter of fact where would you park all your additional money or "idle cash"? The least we could do is hold them in a savings account earning some interest without losing the flexibility of withdrawing at our will.

CIT Bank is offering this account with a minimum opening balance of $100, no monthly fees, free online transfers, no withdrawal penalty, and currently pays 1.30% APY (as of July 2017). Best of all it is FDIC insured, which means your deposit accounts are insured up to $250,000 should your bank go under. Unlike traditional banks, CIT bank is an online only bank with no  physical branches, tellers etc. This typically means they have less operating expenses when compared to traditional banks. This is one of the main reason why they've been offering high interest rates to their customers. I have been using their savings account from past couple of years and it's the best savings account I have. My CIT Bank savings account sometimes have high balance and sometimes only the minimum balance. I use this account to generate a standard 1.30% APY on my idle cash until I find a better investment.

CIT Bank is offering cash bonus of up to $100 if the Premier High Yield Savings account is opened between July 7, 2017 and September 8, 2017. Promotion code PREMIER must be entered at account opening to receive $100 bonus. Funds used to open the account should be new funds coming from your other bank accounts. For more details click here. If you are more flexible with your money and are willing to lock up in term CDs, I encourage you to look at their various CDs which offer high interest rate when compared to national averages.

Disclosure: I do not receive any commission when you open an account with CIT Bank. My sole objective is to share my banking experience with them.

2017 Amazon Prime day deals

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Amazon Prime day is tomorrow July 11th, 2017. For starters this is a self-created online only shopping holiday by Amazon exclusively for Prime members. Amazon is doing this every year since 2015 and promises more discounts than Black Friday deals. Following are some of the interesting deals:
There will be many more deals that will be advertised at various times during the Prime day tomorrow (July 11th, 2017). To see all running deals CLICK HERE. I will try to update above list if I find more interesting deals. Enjoy your shopping browsing through better than Black Friday deals. If you find an interesting deal, feel free to post in comments section below.

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Kohl's $10 free cash with Discover Card

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Discover card is offering $10 Kohl's cash for targeted card members only. Follow below steps to check if it is offered to you.
  • Login to your Discover Card account
  • Go to Rewards tab on the top and click on Discover Deals (shown in the pic below)
  • Enter Kohl's in the search field (Do not choose Kohl's online even though it is suggested)
  • If you are targeted member you will see "$10 off a purchase of $30 or more". Click on it.
  • This will generate a barcode and 4 digit pin code.
  • Barcode can be used in store (take a print out) and 4 digit pin code plus barcode are needed for online shopping at www.kohls.com

Expiration date of this offer is 07/02/2017. This barcode can be used as regular Kohl's cash even though the offer says $30 minimum purchase. Also, this can be combined with other coupons or offers. Enjoy your free $10 Kohl's cash and feel free to leave a comment if you find more coupons which can be combined with this offer.

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CIT Bank Spring Savings Account Review

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UPDATE: For more bonus use code "BONUS17" - more details here.

Most financial experts recommend saving at least 6 months of your income as an emergency fund. That's a lot of money sitting idle but I can't disagree with them. We definitely don't like our funds sitting idle. What is the best place to park these reserves in cash? As a matter of fact where would you park all your additional money or "idle cash"? The least we could do is hold them in a savings account earning some interest without losing the flexibility of withdrawing at our will. 

CIT Bank is offering Spring Savings account with a minimum opening balance of $100, no monthly fees, free online transfers, no withdrawal penalty, and currently pays 1.15% APY (as of June 2017). Best of all it is FDIC insured, which means your deposit accounts are insured up to $250,000 should your bank go under. Unlike traditional banks, CIT bank is an online only bank with no  physical branches, tellers etc. This typically means they have less operating expenses when compared to traditional banks. This is one of the main reason why they've been offering high interest rates to their customers. I have been using their savings account from past couple of years and it's the best savings account I have. My CIT Bank savings account sometimes have high balance and sometimes only the minimum balance. I use this account to generate a standard 1.15% APY on my idle cash until I find a better investment. 
  
CIT Bank is offering cash bonus of up to $400 if the Spring Savings account is opened before June 30, 2017. Funds used to open the account should be new funds coming from your other accounts. For more details click here. If you are more flexible with your money and are willing to lock up for a year, I encourage you to look at their 1year CD which offer high interest rate (1.32% APY) when compared to national averages.

Disclosure: I do not receive any commission when you open an account with CIT Bank. My sole objective is to share my banking experience with them.

AmazonSmile from Amazon.com

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AmazonSmile is a charitable donation program offered by Amazon to its customers. It is a free and effortless way to support your favorite organization every time you shop at Amazon. This program allows Amazon customers to direct 0.5% of their qualified purchases towards the charitable organization of their choice. This means one has to shop $1000 worth of eligible items to donate $5 to their favorite charity organization. Obviously 0.5% of qualified purchases isn't much but why not donate when it costs nothing and effortless.

Here is how it works: First visit smile.amazon.com and select your favorite charitable organization before you begin shopping. Your selection is remembered as long as you shop through smile.amazon.com and donations are made when you purchase products that state "Eligible for AmazonSmile donation". Gift card purchases, subscribe & save purchases, and certain digital purchases are not eligible for donations. Donations accrued through your eligible purchases are sent to charity organizations quarterly. To learn more about this program please visit their FAQ page here.

To make it more easier, there is a Chrome extension called "Smile Always" which will always take you to smile.amazon.com when you go to amazon.com. I have "Asha-Jyothi" set up as my favorite charity for smile.amazon.com. If you don't have a favorite one, consider supporting "Asha-Jyothi". Once an eligible purchase is made you should see a message like below:

When I first started participating in this program I felt like I am already donating a lot while shopping. That is not true if you look at the actual dollar numbers. So my sincere ask to you all is, don't let that feeling stop or reduce your other charity donations that you regularly do. Please do this in addition to what you already do.

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