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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
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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
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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%
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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 2019
L7: Teacher
> bubble2 2,372 Posts
302 Reputation
Pro
blahbooboo2
04-21-2023 at 01:01 AM.
04-21-2023 at 01:01 AM.
Quote from samk31 :
What about savebetter. It has no penalty cd at 4.92.

Already discussed above. I'd be skeptical of fdic insurance working properly given they pool your money into a single account. Not worth the risk
Reply
Joined Dec 2011
L6: Expert
> bubble2 1,073 Posts
53 Reputation
shaolinwookie
04-21-2023 at 02:49 PM.
04-21-2023 at 02:49 PM.
i would suggest ufb direct, they hve like a 4.81apy as well as a 4.7 monthly rate
Reply
Joined Nov 2007
L6: Expert
> bubble2 1,580 Posts
166 Reputation
suednim
04-21-2023 at 08:03 PM.
04-21-2023 at 08:03 PM.
I closed my CIT acct. Impossible to get thru to them when needed. Many other alternatives.

Also, Cap1 the same problems as mentioned above with them "playing games" with old accts. having rate cuts and new accts. with high promo rates replacing the old acct.
1
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Joined Apr 2023
New User
> bubble2 7 Posts
14 Reputation
SharpSink689
04-21-2023 at 08:14 PM.
04-21-2023 at 08:14 PM.
It looks like CIT is a division of First Citizens Bank, so does anyone know if it's possible to do transactions at a First Citizens Bank (brick and mortar branch)?
Reply
Joined Apr 2018
L6: Expert
> bubble2 1,694 Posts
167 Reputation
krnprogamer
04-22-2023 at 02:31 PM.
04-22-2023 at 02:31 PM.
I'm tired of opening new accounts to transfer funds...soon I'm going to have an account open in every single online bank institutes...
Reply
Joined Dec 2012
L5: Journeyman
> bubble2 542 Posts
30 Reputation
JayC3270
04-22-2023 at 02:47 PM.
04-22-2023 at 02:47 PM.
Thank you for your recent application for a CIT Bank account. We regret to inform you that after a thorough review of your application, we have elected to not open a bank account for you at this time. Thank you for considering CIT Bank.

Wth.. never rejected even from mortgage applications.
Reply
Joined Jun 2013
L2: Beginner
> bubble2 67 Posts
10 Reputation
jagsind
04-22-2023 at 08:59 PM.
04-22-2023 at 08:59 PM.
Why not Robinhood Gold ?? They pay monthly.
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Joined Feb 2008
Been here a while
> bubble2 303 Posts
TheMasterPrankCaller
04-22-2023 at 09:09 PM.
04-22-2023 at 09:09 PM.
Quote from JayC3270 :
Thank you for your recent application for a CIT Bank account. We regret to inform you that after a thorough review of your application, we have elected to not open a bank account for you at this time. Thank you for considering CIT Bank.

Wth.. never rejected even from mortgage applications.

Had the same thing happen to me. I have good credit and pulled my chex systems report to see if something was up. It barely had pulls on it. Oh well, their loss.
Reply
Joined Jan 2018
New User
> bubble2 1 Posts
10 Reputation
MemorableHeat1894
04-24-2023 at 09:58 AM.
04-24-2023 at 09:58 AM.
Be careful opening a savings account with them. My daughter and son-in-law had a horrible time transferring money out of their savings account. It took like 20 hours on the phone being transferred and no one telling the same story. Anything from they couldn't transfer because T-Mobile bought out sprint so the couldn't release the money to they need to have a debit card. After the waited for a debit card. Activated it and was told they had to wait 30 days. Then the were told their is a block on the account and no one could cancel it. They were told they would have to go into a branch and there are no branches in Tx. They sold the home and thought they were save putting the money there until their new was was done. They need the money for down payment on the new house. It was a nightmare getting out .
1
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Joined Oct 2015
L2: Beginner
> bubble2 53 Posts
10 Reputation
mattlaubach
04-25-2023 at 07:40 AM.
04-25-2023 at 07:40 AM.
Quote from aznboicn :
Applied last week, got declined.
Called them and went through the service they get the reports from.
Clean and had nothing on it. Applied again, declined again.
No reasoning for declined, but it is what it is

What's your credit score?
1
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Joined Jan 2014
L3: Novice
> bubble2 163 Posts
62 Reputation
broncobisley1
04-25-2023 at 08:56 PM.
04-25-2023 at 08:56 PM.
I opened a CIT Savings account. My only complaint so far is that they are very very slow to show an available balance. It's the longest I've ever had to wait to have access to my funds if needed (latest funds are still not available after 7 business days).
Reply
Joined Jul 2013
L2: Beginner
> bubble2 42 Posts
15 Reputation
brandn30
04-26-2023 at 12:23 PM.
04-26-2023 at 12:23 PM.
Quote from broncobisley1 :
I opened a CIT Savings account. My only complaint so far is that they are very very slow to show an available balance. It's the longest I've ever had to wait to have access to my funds if needed (latest funds are still not available after 7 business days).

I just opened one as well. $$$ was ACH drafted quickly from my funding account, waiting to see how long until it lands in my new CIT acct.
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Joined Oct 2009
L8: Grand Teacher
> bubble2 3,766 Posts
1,361 Reputation
CoronaKid
04-26-2023 at 02:30 PM.
04-26-2023 at 02:30 PM.
Quote from krnprogamer :
I'm tired of opening new accounts to transfer funds...soon I'm going to have an account open in every single online bank institutes...
Yeah, but once you have about 5 or so set up you just transfer to whoever has the current highest rate at the moment. I don't find it that hard.
Reply
Joined Oct 2009
L8: Grand Teacher
> bubble2 3,766 Posts
1,361 Reputation
CoronaKid
04-26-2023 at 02:32 PM.
04-26-2023 at 02:32 PM.
Quote from brandn30 :
I just opened one as well. $$$ was ACH drafted quickly from my funding account, waiting to see how long until it lands in my new CIT acct.
It should show up fairly quickly but it won't be "available" for 5 business days. However, the interest does start accruing once you see the amount.
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Joined Dec 2010
L2: Beginner
> bubble2 40 Posts
22 Reputation
1kewldude
04-27-2023 at 02:12 PM.
04-27-2023 at 02:12 PM.
It's been about 6 business days and it hasn't cleared.
I should have just stuck to my SoFi account.
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