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CIT Bank Platinum Savings: Earn up to Expired

4.75% APY*
+31 Deal Score
43,561 Views
CIT Bank, our partner, offers the following benefits with their Platinum Savings account.

Thanks to staff member EfficientGame645 for finding this deal.
  • Must have a minimum daily balance of $5000 to earn 4.75% APY
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
Slickdeals may be compensated by CIT Bank

Original Post

Written by
Edited May 9, 2023 at 08:32 AM by
CIT Bank our partner, offers the following benefits with their \Platinum Savings[/URL] account.
  • Must have a minimum daily balance of $5000 to earn 4.75% APY
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
Slickdeals may be compensated by CIT Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+31
43,561 Views
4.75% APY*

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Featured Comments

The more I read into the fine print, it seems like the first $5000 has 0.25% interest and anything >$5000 has 4.75% APR. This is pretty sly and would mean you'd need over $75,000 balance to earn more interest than their Savings Connect product at a flat rate of 4.50%
I've never had an issue with CIT, and they are FDIC insured. That being said, when clicking through the link you may be providing SD with some of your personal info (see below). I suggest going directly to their website through a search engine.

"Welcome Slick Deals visitors! Reach your savings goals faster with a Platinum Savings Account."
It always annoys me that all these online banks constantly add accounts with new names and only these new accounts offer the highest rates. I currently have the Savings Connect one and it is at 4.4%. Yes I understand that this has a $5K requirement but that's nothing really. Now I need to open a new account and then transfer over yet again. This is the 4th time I've done this with CIT bank.

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Joined Jan 2009
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> bubble2 416 Posts
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jbstrom
04-15-2023 at 07:09 AM.
04-15-2023 at 07:09 AM.
Quote from Integra92 :
Marcus 10-month CD is 5.05% APY right now.
I wouldn't recommend Marcus at all. Read reviews about them anywhere else and believe them - I know.
1
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Joined Oct 2021
L2: Beginner
> bubble2 34 Posts
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UniqueDolphin9617
04-15-2023 at 08:00 AM.
04-15-2023 at 08:00 AM.
Quote from coronakid :
It always annoys me that all these online banks constantly add accounts with new names and only these new accounts offer the highest rates. I currently have the Savings Connect one and it is at 4.4%. Yes I understand that this has a $5K requirement but that's nothing really. Now I need to open a new account and then transfer over yet again. This is the 4th time I've done this with CIT bank.

A little inconvenience for free money...I get it though
Reply
Joined Apr 2020
L10: Grand Master
> bubble2 8,565 Posts
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SlickCrowd6832
04-15-2023 at 08:07 AM.
04-15-2023 at 08:07 AM.
Quote from iansp :
Can you let us know how to do it ? What symbols should I look for ?
youtube.... how to buy agency bonds, that is what taught me.
BUT
1. after u log on.... go to research tab
2. Go to fixed assets
3...... there u can see what is available...
Reply
Joined Nov 2006
L4: Apprentice
> bubble2 456 Posts
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Integra92
04-15-2023 at 08:21 AM.
04-15-2023 at 08:21 AM.
Quote from jbstrom :
I wouldn't recommend Marcus at all. Read reviews about them anywhere else and believe them - I know.
It's run by one of the most diversified-stable financial institutions in the US. Its not going to be a SVB situation. It's these banks that people run to when bank-runs happen
Reply
Joined Jan 2009
L4: Apprentice
> bubble2 416 Posts
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jbstrom
04-15-2023 at 08:41 AM.
04-15-2023 at 08:41 AM.
Quote from Integra92 :
It's run by one of the most diversified-stable financial institutions in the US. Its not going to be a SVB situation. It's these banks that people run to when bank-runs happen
That's not what I'm talking about at all. I don't want to start that discussion... again...

I'm simply talking about Marcus not letting you have your money. They'll make up rules as they go along to prevent you from moving money out. Of course they won't tell you that right off the bat. When you're wondering where those funds went you'll find yourself chatting with offshore customer service only for them to tell you their advertised same-day ACH transfers can take 1 to 5 days. Then after that amout of time someone from security will call you and tell you they've denied the transfer for whatever reason they create that day. So you lose a few days interest, scramble because you were expecting that transfer to drop into another account and be talked down to like a child.
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iansp
04-15-2023 at 09:03 AM.
04-15-2023 at 09:03 AM.
Quote from jbstrom :
That's not what I'm talking about at all. I don't want to start that discussion... again...

I'm simply talking about Marcus not letting you have your money. They'll make up rules as they go along to prevent you from moving money out. Of course they won't tell you that right off the bat. When you're wondering where those funds went you'll find yourself chatting with offshore customer service only for them to tell you their advertised same-day ACH transfers can take 1 to 5 days. Then after that amout of time someone from security will call you and tell you they've denied the transfer for whatever reason they create that day. So you lose a few days interest, scramble because you were expecting that transfer to drop into another account and be talked down to like a child.

Goldman Sucks ....not Sacs 😃
Reply
Joined Apr 2007
null
> bubble2 394 Posts
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leland
04-15-2023 at 11:49 AM.
04-15-2023 at 11:49 AM.
Quote from SlickCrowd6832 :
I used to be like WOW but with Merill Edge I am able to buy 30/60/90/120/ 6months/9months/1year/3 year/5year and 8year agency bonds that are FDIC insured. And the 30day gives you a higher rate.
I'm WOW to this. Have links or instructions to more detailed writeup? I've been sticking to MMFs on Medge.
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Dr. J
04-17-2023 at 06:05 AM.
04-17-2023 at 06:05 AM.
Quote from kaslee :
why isn't insurance paying for your Roof? Just curious.

Why would it? Roofs age, wear out, etc. Asphalt shingle roofs generally used to have a 25-30 year lifespan, which has now been elongated to more towards 50 years. Of course that depends on what type of shingles you get. Having to replace a roof is just like having to paint (unless you have vinyl).
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Joined Aug 2007
L9: Master
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pug_ster
04-20-2023 at 08:57 AM.
04-20-2023 at 08:57 AM.
Now they have this savings plan. I pulled out money from them 2 months ago when their interest rate was .25%
Reply
Joined Oct 2009
Shemomedjamo
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This user is an Expert in Computers
TekkenLord
04-20-2023 at 09:02 AM.
04-20-2023 at 09:02 AM.
Quote from iansp :
Goldman Sucks ....not Sacs 😃

Goldman my ballSack
Reply
Joined Oct 2012
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FireDragonMule
04-20-2023 at 09:14 AM.
04-20-2023 at 09:14 AM.
How does this compare to UFB, which offers 4.81% APY or CFG bank which offers 5.15% APY.
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Joined May 2022
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FancyCemetery8688
04-20-2023 at 09:21 AM.
04-20-2023 at 09:21 AM.
Quote from coronakid :
Ah, that explains the 4.65% I am getting. Oh well, still better that 99% of MMA out there right now. Thanks for the heads up. Very sly indeed.
I don't think that's how that works. The reason I think that is when you increase your amount after the 5K I bet your 4.65% will stay the same.

I just switched from Capital One 3.5% and felt like it was trailing behind. When I opened up CIT platinum before I made any deposit it was in two different categories something like

"Interest 3.65%*/ APY 3.75%*"
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dongd333
04-20-2023 at 09:51 AM.
04-20-2023 at 09:51 AM.
Horrible customer service, had trouble dealing with CIT every single time.
Reply
Joined Dec 2007
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phewry
04-20-2023 at 09:52 AM.
04-20-2023 at 09:52 AM.
Reply

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dongd333
04-20-2023 at 09:52 AM.
04-20-2023 at 09:52 AM.
Quote from jbstrom :
I wouldn't recommend Marcus at all. Read reviews about them anywhere else and believe them - I know.
Marcus beats CIT in every aspects! Stay away from CIT
1
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