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CIT Bank Platinum Savings: Earn Up to Expired

4.85% APY*
+51 Deal Score
93,043 Views
CIT Bank our partner, offers the following benefits with their Platinum Savings account.

Thanks Staff Member EfficientGame645 for sharing this deal
  • Must have a minimum daily balance of $5000 to earn 4.85% APY
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
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Edited June 16, 2023 at 09:39 AM by
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Created 05-09-2023 at 09:02 AM by EfficientGame645
in Personal Finance (6) CIT Bank
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Score +51
93,043 Views
4.85% APY*

273 Comments

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Featured Comments

I don't think CIT has anything to do with Citibank.
·
All fdic insured bank has a 250k protection from the federal government.
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You can do this with treasurydirect.gov or a brokerage site like schwab, fidelity, or vanguard etc. They are federally taxed but not state. The latest 4 week t-bill was almost 6%
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Joined Nov 2010
Livin the dream
> bubble2 2,619 Posts
1,230 Reputation
primetime2113
05-09-2023 at 09:14 PM.
05-09-2023 at 09:14 PM.
Keep in mind CIT recently was bought out by First Citizens, who knows if they will still service this months from now.
2
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HIDDENcgigate05-09-2023 at 09:15 PM.
Joined Jun 2008
L5: Journeyman
> bubble2 962 Posts
133 Reputation
khoj
05-09-2023 at 09:15 PM.
05-09-2023 at 09:15 PM.
Quote from olegk :
If you're cool with CDs, BreadFinancial has 5.2% APY 1-year CDs.

https://savings.breadfinancial.co...ign=2022Q2

I was thinking of going with them but decided to stay away after reading bad reviews here: https://www.depositaccounts.com/b...ncial.html
Reply
Joined Dec 2009
L4: Apprentice
> bubble2 315 Posts
21 Reputation
anks_2010
05-09-2023 at 09:16 PM.
05-09-2023 at 09:16 PM.
Quote from anks_2010 :
Can you give me a quick help how do I calculate return on this quote. Let's say I invest 1k
nvm, got it!
Reply
Joined Nov 2017
L2: Beginner
> bubble2 33 Posts
18 Reputation
SaylorSwift
05-09-2023 at 09:41 PM.
05-09-2023 at 09:41 PM.
I tried to open one last week when it was still 4.75%, since it was 1% higher than my current Ally savings account. It got denied over identity verification issues. I ended up opening a CapitalOne savings account with the sign-up bonus promo instead.
Reply
Joined Dec 2009
L6: Expert
> bubble2 1,195 Posts
106 Reputation
music3k
05-09-2023 at 11:18 PM.
05-09-2023 at 11:18 PM.
Quote from cgigate :
what would happen when the government bankrupted ?
Technically the US government would be bankrupted longtime ago ...
Maybe, next week it would be in bankruptcy for debit ceiling falling off
The world market would crash if the US govt "went bankrupt." Its not happening.
Reply
Joined Aug 2016
L9: Master
> bubble2 5,547 Posts
312 Reputation
duckeggs
05-09-2023 at 11:21 PM.
05-09-2023 at 11:21 PM.
Wait… CIT has withdrawal limits…? I thought those went away….
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Joined Jul 2011
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> bubble2 58 Posts
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skyang
05-10-2023 at 12:19 AM.
05-10-2023 at 12:19 AM.
Quote from Threemonthtresuries :
5.28% tax free 3 month treasuries

No state tax but you are required to pay federal tax
Reply
Joined Jul 2011
L2: Beginner
> bubble2 58 Posts
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skyang
05-10-2023 at 12:20 AM.
05-10-2023 at 12:20 AM.
Quote from music3k :
The world market would crash if the US govt "went bankrupt." Its not happening.

Why does it matter. If the US goes bankrupt, the dollar will have no value.
1
Reply
Joined Oct 2008
L7: Teacher
> bubble2 2,392 Posts
65 Reputation
NoSleep007
05-10-2023 at 03:48 AM.
05-10-2023 at 03:48 AM.
CIT Bank is a good bank, will strongly consider opening an account.
1
Reply
Joined Apr 2015
L5: Journeyman
> bubble2 820 Posts
54 Reputation
FNwoz
05-10-2023 at 05:27 AM.
05-10-2023 at 05:27 AM.
Quote from Saphronz :
If I currently have a Platinum Saving do I get the update 4.85APR rate?

I called yesterday and the customer service rep said yes.
Reply
Joined Jul 2013
L2: Beginner
> bubble2 42 Posts
15 Reputation
brandn30
05-10-2023 at 05:46 AM.
05-10-2023 at 05:46 AM.
Quote from Cl4wHammer :
Id be careful with ANY bank below $100 Billion in deposits. Anything below that doesnt require stress Tests mandated by the Fed. Do with that info what you wish

First Citizens (owner of CIT) sits around 200billion in assets.
Reply
Joined Dec 2018
L2: Beginner
> bubble2 60 Posts
10 Reputation
LamontC1445
05-10-2023 at 07:09 AM.
05-10-2023 at 07:09 AM.
Quote from dragon17 :
High short term rates because of looming debt ceiling fiasco. Buyer beware.

First of all, debt ceiling fiasco is posturing like it always is. A non-event. 2nd, if it is a high in short term rates, that's the exact reason to lock it in.
Reply
Joined Oct 2009
L8: Grand Teacher
> bubble2 3,034 Posts
ascotnot
05-10-2023 at 07:23 AM.
05-10-2023 at 07:23 AM.
Quote from SplendidStar8372 :
Enough with these CD posts. Treasury Bills are a better investment. None of these CD rates are a "slick deal"
I have yet to see a better deal than the 13 week T-Bill for rates and access. You get the highest available rates, your money under any circumstance is available (and in fact dumped right back into your bank account) in no more than three months, and most if not all available services can be executed on the website, so you won't wipe out your entire ROI with aggravation and wait times involving customer service or managing 1099s from banks all over the country.
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Joined Sep 2011
L5: Journeyman
> bubble2 685 Posts
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lilaznboy1210
05-10-2023 at 08:22 AM.
05-10-2023 at 08:22 AM.
Quote from Eragorn :
I currently have some money in a CIT Platinum Savings account with an "Interest Rate:
4.641%" that was via the last deal... do I need to set up a new account and then transfer the money from that account to this one for the extra 0.20% savings then?
I called them yesterday and was told the rate will update today. I check and it was updated on my account.
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