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CIT Bank Platinum Savings: Earn Up to Expired

4.85% APY*
+51 Deal Score
92,564 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
  • Deal Image
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Original Post

Written by
Edited June 16, 2023 at 09:39 AM by
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
  • 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
Slickdeals may be compensated by CIT Bank
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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
92,564 Views
4.85% APY*

273 Comments

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Featured Comments

I don't think CIT has anything to do with Citibank.
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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 Jan 2014
L6: Expert
> bubble2 1,569 Posts
316 Reputation
partyman66
05-10-2023 at 04:10 PM.
05-10-2023 at 04:10 PM.
Quote from python5 :
For Schwab

Log in to your Schwab account on the Schwab website.
Click on the "Trade" tab in the top navigation menu.
From the dropdown menu, select "Bonds".
In the new page, click on "Treasury Auctions".
You will be presented with a list of upcoming Treasury auctions. Find the T-bill that you want to buy and click on its symbol or name.
So when you buy them, you can only buy for future auctions and it's a sort of gamble, because you don't know what the rates will be until the auction happens? Is that correct?

I was just looking at them on TreasuryDirect and it's confusing. I saw a chart of all the recent auction results.
Reply
Joined Nov 2013
L1: Learner
> bubble2 3 Posts
10 Reputation
LuisL2784
05-10-2023 at 04:54 PM.
05-10-2023 at 04:54 PM.
Ive been trying to open an account with them multiple times not sure why it says this


Unfortunately, we are unable to open an account for you at this time
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.
Reply
Joined Feb 2014
L2: Beginner
> bubble2 73 Posts
10 Reputation
ViT3633
05-10-2023 at 05:54 PM.
05-10-2023 at 05:54 PM.
Once I click on open account it opens a blank page (I tried on both Chrome and Edge). Anybody else has the same issue?
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Joined Dec 2009
L4: Apprentice
> bubble2 379 Posts
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Boobooo
05-10-2023 at 06:01 PM.
05-10-2023 at 06:01 PM.
Customer service seems very helpful. A good sign for basically an online only bank... Might be good for a place to store some cash for monthly bill pay stuff... I wonder how long that intro rate 4.85% stays true? Good news is no fee for closing the account in the future if they 'change'...
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Joined May 2020
L2: Beginner
> bubble2 40 Posts
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Cl4wHammer
05-10-2023 at 06:42 PM.
05-10-2023 at 06:42 PM.
Quote from brandn30 :
First Citizens (owner of CIT) sits around 200billion in assets.
They are separate entities.
2
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Joined Oct 2018
L10: Grand Master
> bubble2 6,458 Posts
1,207 Reputation
Wavy-Nife
05-10-2023 at 08:19 PM.
05-10-2023 at 08:19 PM.
Average price at best
4
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Joined Oct 2008
L7: Teacher
> bubble2 2,369 Posts
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NoSleep007
05-10-2023 at 08:29 PM.
05-10-2023 at 08:29 PM.
Quote from LiBingBing :
Just opened a CIT Platinum Savings. Transferred funds from my CIT Savings Connect account.

Can you have both of them open so you can switch back and forth?
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Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
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cgigate
05-10-2023 at 09:06 PM.
05-10-2023 at 09:06 PM.
Quote from music3k :
The world market would crash if the US govt "went bankrupt." Its not happening.
technically, US government should be bankrupted long time ago with debt-to-GDP ratio of approximately 108%
2
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Joined Dec 2010
L3: Novice
> bubble2 252 Posts
101 Reputation
olegk
05-10-2023 at 09:35 PM.
05-10-2023 at 09:35 PM.
Quote from khoj :
I was thinking of going with them but decided to stay away after reading bad reviews here: https://www.depositaccounts.com/b...ncial.html
Oh, that's very useful. Thanks.
Reply
Joined Dec 2018
L4: Apprentice
> bubble2 370 Posts
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UniqueNest131
05-10-2023 at 09:48 PM.
05-10-2023 at 09:48 PM.
I am leaning toward purchasing a brokered CD from Vanguard or Fidelity instead. If I need the money before maturity, I can just sell the CD on vanguard/fidelity at the prevailing market rate (which would have gone up if interest rates dipped, or down if interest rates rose).
For me liquidity without penalty is key, and I think this is a better option vs. banks CD directly, where I would have to break the CD for a penalty (which is usually losing the interest).
Thoughts?
Reply
Joined Dec 2009
L6: Expert
> bubble2 1,193 Posts
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music3k
05-10-2023 at 09:50 PM.
05-10-2023 at 09:50 PM.
Quote from cgigate :
technically, US government should be bankrupted long time ago with debt-to-GDP ratio of approximately 108%
That's not how that works, but whatever.
1
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Joined Oct 2007
L1: Learner
> bubble2 6 Posts
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monock
05-11-2023 at 07:58 AM.
05-11-2023 at 07:58 AM.
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets.
Reply
Joined Feb 2015
L4: Apprentice
> bubble2 302 Posts
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mozmoz1
05-11-2023 at 08:09 AM.
05-11-2023 at 08:09 AM.
Quote from SlickSmiles :
Anyone have experience with American Express high yield savings?
I have American Express savings. Their interest is only 3.65, so ill be moving my money to CIT. Also, they don't have an APP for savings account. Otherwise no issues.
1
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Joined Oct 2006
L7: Teacher
> bubble2 2,509 Posts
sussig
05-11-2023 at 08:13 AM.
05-11-2023 at 08:13 AM.
whats their transfer limit per day/month if any ?
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Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
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cgigate
05-11-2023 at 09:07 AM.
05-11-2023 at 09:07 AM.
Quote from monock :
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets.
SVB was top 16 bank, it collapsed...Now belongs to First Citizens Bank.
Even First Citizens Bank is top 20 ...
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