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CIT Bank Platinum Savings: Earn Up to Expired

4.85% APY*
+51 Deal Score
92,842 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

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
Created 05-09-2023 at 09:02 AM by EfficientGame645
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+51
92,842 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 Dec 2022
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> bubble2 6 Posts
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MoistAnt
05-19-2023 at 03:16 AM.
05-19-2023 at 03:16 AM.
Quote from duckeggs :
Same. I saw a ton of people say transfers are slow from cit to another bank so I decided to test it out myself and the transfer was literally in my other bank overnight lmao. People are either dumb or clowns 🤣🤣🤣

I believe some people don't check when CIT says "we're going to hold your balance for 5 business days" so it'll look slower / doesn't show the value go up for a week / unless u actually go into the summary to see it's there but it's unusable since CIT holds it
Reply
Joined Nov 2010
L4: Apprentice
> bubble2 492 Posts
123 Reputation
grayguru
05-19-2023 at 04:41 AM.
05-19-2023 at 04:41 AM.
Quote from duckeggs :
Same. I saw a ton of people say transfers are slow from cit to another bank so I decided to test it out myself and the transfer was literally in my other bank overnight lmao. People are either dumb or clowns 🤣🤣🤣
Banks do not do the transfers themselves. Transfers are done through the ACH Network. It used to be that these would take 2-3 days, but now they seem to always be overnight. My transfers have been overnight for at least a year. I have done a lot of transfers to and from a dozen banks, and they all go through overnight. The last was from CIT banks for $10K+ and it was at the new bank the next morning.
Reply
Joined Sep 2012
Convexity
> bubble2 315 Posts
BondTrader
05-19-2023 at 04:57 AM.
05-19-2023 at 04:57 AM.
Quote from thefirm :
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?

Fidelity is the worst bond platform I've seen. The sad part is, the people that use them don't see how bad they are getting screwed.
Reply
Joined Sep 2012
Convexity
> bubble2 315 Posts
BondTrader
05-19-2023 at 05:01 AM.
05-19-2023 at 05:01 AM.
Quote from cgigate :
OK, you have wisdom to spend more money than you made...that is the term in textbook called bankruptcy!

Spend more than you made using borrowed money is called debt
Reply
Joined Sep 2012
Convexity
> bubble2 315 Posts
BondTrader
05-19-2023 at 05:04 AM.
05-19-2023 at 05:04 AM.
Quote from cheaptwo :
Many money market mutual funds pays more than 5%. Such as VMFXX

4week t-bill is 5.5%
Reply
Joined Sep 2012
Convexity
> bubble2 315 Posts
BondTrader
05-19-2023 at 05:07 AM.
05-19-2023 at 05:07 AM.
Quote from robertw477 :
LOL. You will go on a soup line to get food. The feds will run off with your money. You will have to go to Washington to demand it in person.

In reality there's a provision on the bonds. If the debt ceiling isn't raised the maturity of the bonds move back +1 day and will keep doing so until it's paid, including interest for the extra days.

There will not be a scenario where they don't pay. It'll be a delayed payment in the worst case scenario.
Reply
Joined Sep 2012
Convexity
> bubble2 315 Posts
BondTrader
05-19-2023 at 05:09 AM.
05-19-2023 at 05:09 AM.
Quote from CoralRose466 :
Can you please reply how did you get 4 years CD with an average of 5.18% APY? Any link? Thanks

There is no 4 year CD at 5.5%.

He likely means months.
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Joined Nov 2009
L3: Novice
> bubble2 140 Posts
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cdtech20059
05-19-2023 at 05:43 AM.
05-19-2023 at 05:43 AM.
Quote from Xerxi :
All fdic insured bank has a 250k protection from the federal government.

Yea until govt collapses and they can't pay debt. "250k protection" just imagine if everyone tries pull money out. Computer servers collapse govt can't do anything. I don't trust this place personally.
Reply
Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
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cgigate
05-19-2023 at 06:26 AM.
05-19-2023 at 06:26 AM.
Quote from TheBondKing :
Spend more than you made using borrowed money is called debt

You cannot afford to pay debit, you are bankruptcy.... enjoy it
2
Reply
Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
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cgigate
05-19-2023 at 06:26 AM.
05-19-2023 at 06:26 AM.
Quote from TheBondKing :
4week t-bill is 5.5%

T-bill sucks
2
Reply
Joined Jan 2018
L3: Novice
> bubble2 139 Posts
22 Reputation
BobTN
05-19-2023 at 07:01 AM.
05-19-2023 at 07:01 AM.
Reply
Joined Dec 2011
L6: Expert
> bubble2 1,054 Posts
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shaolinwookie
05-19-2023 at 09:12 AM.
05-19-2023 at 09:12 AM.
Quote from c627627 :
Just to be clear, Money Market Mutual Funds are not FDIC insured.


What is the best actual link to see the latest and recent changing rates on 4 week / 8 week / 3 month Treasury Bills?


I opted for a 3 month Treasury Bill at 5.25% today purchased through a brokerage with a new account bonus (if you keep funds with them for 90 days kind of an offer.) So when you add the new account bonus, it will be [substantially] higher than 5.25% in 90 days.

People say get a 4 week T-Bill - then another 4 week next month - then another 4 week after that - but my thinking was to lock in today's high rate for three months because my thinking is that the rates may actually go down in 4 weeks after [it will be when, not if] a default is avoided soon. Based on the thought that considering the consequences, a US default is unrealistic.
some people do whats called a T-bill ladder, its the same as a CD ladder if youve heard of that
Reply
Joined Jun 2010
L5: Journeyman
> bubble2 549 Posts
68 Reputation
ramblers
05-19-2023 at 10:35 AM.
05-19-2023 at 10:35 AM.
I am yet another person who got rejected immediately with a 850 credit score. FU CIT bank!
Reply
Joined Aug 2011
L6: Expert
> bubble2 1,925 Posts
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robrob777
05-19-2023 at 11:14 AM.
05-19-2023 at 11:14 AM.
Vanguard settlement fund(liquid money) is over 5%
Reply

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Joined May 2016
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dkendric
05-19-2023 at 12:23 PM.
05-19-2023 at 12:23 PM.
Deleted. Old news apparently.
Reply
Last edited by dkendric May 19, 2023 at 12:31 PM.
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