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CIT Bank Platinum Savings: Earn Up to Expired

4.85% APY*
+51 Deal Score
92,814 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
92,814 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.
·
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 Feb 2015
L4: Apprentice
> bubble2 302 Posts
30 Reputation
mozmoz1
05-12-2023 at 04:59 PM.
05-12-2023 at 04:59 PM.
Quote from DealsofDeals :
I am on same thought but reading the comments I am still thinking for 1 % more should i risk to move or stay on Amex

Also prior Amex saving was the most high paying or atleast comptetive with other saving accounts but look at them today they are way low compared to their peers
I think it depends on your amount. I'm at $250k. So I'll make around $2,500 more a year by moving my money.
Reply
Joined Nov 2015
Slickdealer
> bubble2 877 Posts
50 Reputation
venom.goku
05-12-2023 at 05:13 PM.
05-12-2023 at 05:13 PM.
Quote from akabeware :
I called customer service earlier, and they said I don't have to do anything - my APY will fluctuate depending on the current Platinum savings rate.

Yes. You're right. I saw the updated rate on the website too... Earlier it used to read 4.64 something and now it reads 4.735
Reply
Joined Jul 2008
L3: Novice
> bubble2 247 Posts
31 Reputation
dogsx2
05-12-2023 at 05:22 PM.
05-12-2023 at 05:22 PM.
Quote from DannyDanDan :
Upgrade offering the same rate I think. How does CIT compare? And does anyone know if they let you add beneficiaries/ joint owner?

Yes they do. I had a no penalty CD with them, and my wife was on it too. They are paying 4.9% now I withdrew it and put it into a local bank at 5 1/4% for 12 months. I never put a large amount into one CD, I always split it up. They don't care how many you have if I need five or $10,000 cash it's not a big hit as compared to a 50 or $100,000 CD.
Reply
Joined Jan 2007
L5: Journeyman
> bubble2 585 Posts
24 Reputation
dtwizzy
05-12-2023 at 05:27 PM.
05-12-2023 at 05:27 PM.
Quote from cameraguy916 :
I am getting 5.15% with Marcus by Goldman Sachs - you just need someone to refer you. I referred my wife and my parents, and now they are all getting 5.15% as well.
Is that for a savings or CD?
Reply
Joined Jun 2019
L3: Novice
> bubble2 169 Posts
29 Reputation
CAGKerig
05-12-2023 at 05:46 PM.
05-12-2023 at 05:46 PM.
Did Citibank lose an i from an ATV accident?

The Venn diagram of banker jokes, puns, and fans of Maylene and the Sons of Disaster could quite possibly be literally one: me.
3
Reply
Joined Oct 2010
L5: Journeyman
> bubble2 831 Posts
835 Reputation
thefirm
05-12-2023 at 05:54 PM.
05-12-2023 at 05:54 PM.
Quote from Strength :
Is there an easy website you recommend to do this?
-dad with new baby with no time, thanks!
Etrade and only state and local tax free, not federal.
Reply
Joined Apr 2015
L5: Journeyman
> bubble2 812 Posts
54 Reputation
FNwoz
05-12-2023 at 06:00 PM.
05-12-2023 at 06:00 PM.
Quote from venom.goku :
Yes. You're right. I saw the updated rate on the website too... Earlier it used to read 4.64 something and now it reads 4.735

Correct. I did the same thing. They were pleasant and easy to work with on the phone as well.
Reply

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Joined Jul 2013
L2: Beginner
> bubble2 42 Posts
15 Reputation
brandn30
05-12-2023 at 06:13 PM.
05-12-2023 at 06:13 PM.
Quote from Cl4wHammer :
They are separate entities.

No it's not, it's a division of FCB. A division is not a separate entity.
Reply
Joined Nov 2004
L5: Journeyman
> bubble2 548 Posts
517 Reputation
sbl
05-12-2023 at 06:25 PM.
05-12-2023 at 06:25 PM.
POS website doesn't load consistently, then rejected application despite exceptional credit rating (could be due to multiple attempts at completing application across different browsers)..

Waste of time for me unfortunately...
1
Reply
Joined Jun 2011
L10: Grand Master
> bubble2 7,629 Posts
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This user is an Expert in Home & Home Improvement
tunabreath
05-12-2023 at 07:01 PM.

Our community has rated this post as helpful. If you agree, why not thank tunabreath

05-12-2023 at 07:01 PM.
Quote from squishymax :
So why not just do fidelity ticker fzdxx it has a 7 day average of 4.88% seems simpler but am I missing something?

FZDXX is a mutual fund, not FDIC insured and it has fees associated with it (see expense ratio).
1
Reply
Joined Nov 2009
Whatever man
> bubble2 548 Posts
135 Reputation
jroth3
05-12-2023 at 09:31 PM.
05-12-2023 at 09:31 PM.
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?
Just call and chat and they'll move you into the newer (higher) rate account.
Reply
Joined Jan 2004
L8: Grand Teacher
> bubble2 3,587 Posts
983 Reputation
jjj444yes
05-13-2023 at 07:37 AM.
05-13-2023 at 07:37 AM.
Ivy bank is 4.8% with a $2500 min. they also have a treasury yield index one
Reply
Joined Feb 2021
L6: Expert
> bubble2 1,758 Posts
300 Reputation
nyc10036
05-13-2023 at 07:44 AM.
05-13-2023 at 07:44 AM.
Quote from thefirm :
Etrade and only state and local tax free, not federal.
Fidelity is better than Etrade unless you like getting the matured T-Bill $$$ 16+ hours after you get it at Fidelity.
Reply
Joined Mar 2010
L6: Expert
> bubble2 1,033 Posts
131 Reputation
billyloon
05-13-2023 at 07:53 AM.
05-13-2023 at 07:53 AM.
CFG Bank has 4.9% right now with no minimum balance. They have been the highest that I have seen for quite a while.
Reply

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Joined Oct 2010
L5: Journeyman
> bubble2 831 Posts
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thefirm
05-13-2023 at 08:11 AM.
05-13-2023 at 08:11 AM.
Quote from nyc10036 :
Fidelity is better than Etrade unless you like getting the matured T-Bill $$$ 16+ hours after you get it at Fidelity.
We have been with them for years and they have paid us to put accounts there. Currently we are getting 3.85% interest in the bank account for unused funds. i don't know what Fidelity gets?
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