Did this coupon
work for you?
work for you?
Sorry, this deal has expired.
Get notified of deals like this in the future.
Add Deal Alert for this Item
Frontpage
CIT Bank Platinum Savings: Earn Up to Expired
4.85% APY*
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
Thanks Staff Member EfficientGame645 for sharing this deal
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
Original Post
Written by
Edited June 16, 2023
at 09:39 AM
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
Created 05-09-2023
at 09:02 AM
by EfficientGame645
in
Personal Finance
(6)
CIT Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
273 Comments
Your comment cannot be blank.
Featured Comments
Sign up for a Slickdeals account to remove this ad.
No Penalty CDs 5.06%
Savings 5.05%
https://www.savebetter.
Liquidity: T-bills are very liquid investments, which means that they can be easily bought and sold on the open market. This is because they are backed by the US government, which is considered to be one of the safest borrowers in the world. In contrast, CDs typically have a fixed term, and if you need to access your money before the CD matures, you may have to pay a penalty.
Flexibility: T-bills are typically issued in small denominations, which means that you can invest as much or as little as you want. In contrast, CDs often have minimum investment amounts, which may be higher than what you want to invest.
Yield: T-bills typically offer a higher yield than CDs.
Taxation: T-bills are exempt from state and local income taxes, which can make them more attractive to investors in high-tax states. CDs, on the other hand, are subject to state and local income taxes.
That's my main concern right now. I like the idea of T-bills, but if the rates go down, then I might end up worse off. I've heard about laddering, but I still need to read up on that when I get the time.
That's my main concern right now. I like the idea of T-bills, but if the rates go down, then I might end up worse off. I've heard about laddering, but I still need to read up on that when I get the time.
CIT is a subsidiary of First Citizens Bank. They just bought part of SVB. So around 250B now. Yes they are stressed tested.
There is a massive degree of variability with this one area. I've found Marcus to be amongst the best as far as response times and instantly giving you interest on deposits, but their rates aren't anywhere near as high as some of these other ones.
I've heard good things about ALLY, although i haven't personally tried it. I'm on the fence about CFG, and I won't use UFB.
Not with CIT. ACH speeds (outgoing) are overnight. CIT is top notch (same experience as chase). Others like capital one 360 & synchrony do not compare.
Sign up for a Slickdeals account to remove this ad.
No. CIT does not follow 6x limit (same with some other savings accounts eg barclays).
Yes. Instant transfers!
The bad reviews are mostly complaints about different savings accounts having different rates. Apparantly there has been an issue with them creating 'new' savings accounts with higher rates in the past. Right now they only have 2 savings accounts. One for balances < $5k and one for over $5k. System works great currently. I don't see them sleezing and dropping rates and then creating a different type of savings account with a higher rate, thus screwing existing customers, (but apparantly they did this before). But banking quality is best in class. And, from the reviews, I didn't feel that they were freezing accounts or funds, except in a few isolated cases (which may be justified).
BUT the CIT android app fusses a bit at login screen so I just use their website via my mobile browser (That's the only drawback).
CD Term Rates2 - 5-Year 0.50%
So CD rates are not that good in the long term compared to Ally
Sign up for a Slickdeals account to remove this ad.