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CIT Bank Platinum Savings: Earn Up to Expired
4.95% 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 4.95% 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 01:06 PM
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
- Must have a minimum daily balance of $5000 to earn 4.95% APY
- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
- *See site for details
in
Finance
CIT Bank
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If you think the feds are going to start drastically cutting interest rates shortly, then is the time to get longer term CDs to lockin the current high rates.
I have been a CIT customer for a while. They have one of the fastest ACH deliveries (1-2 days) & have really high transfer limits (6 digit) where most other banks have quite low limits. This is their biggest unadvertised feature, I can reliably get/move my money fast. And their savings rates, tho not the highest like CFG, is quite competitive. They are my main go-to online savings bank.
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First Horizon has a 5.38% money money market account that requires a checking acct https://www.firsthorizo
Out if the top of the list, I have a CFG money market acct which has been great so far, but last time I posted about CFG, cgigate insinuated they're illegally claiming they're fdic insured trying to instigate a bank run lol
terrified of savings and money market accts? Lol the best checking acct is Primis at 4.85%, they used to be higher, here's an old thread about them https://slickdeals.net/f/16414867-primis-bank-open-a-savings-account-get-5-03-apy-1-minimum-deposit
@Stars09
Our community has rated this post as helpful. If you agree, why not thank mtnagel
@Stars09
Our community has rated this post as helpful. If you agree, why not thank ElGringoAmericano
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First Horizon has a 5.38% money money market account that requires a checking acct https://www.firsthorizo
Out if the top of the list, I have a CFG money market acct which has been great so far, but last time I posted about CFG, cgigate insinuated they're illegally claiming they're fdic insured trying to instigate a bank run lol https://slickdeals.net/f/16717184-capital-funding-group-cfg-bank-5-12-apy-money-market-account?p=16405
terrified of savings and money market accts? Lol the best checking acct is Primis at 4.85%, they used to be higher, here's an old thread about them https://slickdeals.net/f/16414867-primis-bank-open-a-savings-account-get-5-03-apy-1-minimum-deposit
Yeah I got that Primis account around the time when that thread was posted , they bumped my rate to 5.10 APY recently . Pretty smooth so far.
FDIC, is good but it can't be the only factor. Is there customer service good or at least good enough? I understand these banks get bombarded due to many customers signing up. What is the amount of the ach transfter out rate? CIT Bank is upto 250K or just about, where as some other banks only do 30k a month. Of course, this is al subjective and some people don't mind.
CIT Bank, has been around for awhile now and I would trust them them more than any of those banks that you mentioned. Sure they don't have the THE highest apy but it's definitely up there.
Also, anyone know if there are any limits to transfers in from another bank via ACH and how easy it is to get your money out?
Brokerage accounts have SIPC coverage, which is pretty good but not the same.
$0-$4999.99 is earning 0.25 APY
>$5000 is earning 4.95% APY
so if your deposit balance is $10k, then you are only earning 2.6% APY effectively. Obviously the higher the deposit balance, the closer your will be to the 4.95% APY. Please be aware!
Looks like the APY went down a bit over the weekend. **Earns 5.05% APY calculated on your daily balance of up to $100,000. Amounts over $100,000 earn 0.50% APY.
$0-$4999.99 is earning 0.25 APY
>$5000 is earning 4.95% APY
so if your deposit balance is $10k, then you are only earning 2.6% APY effectively. Obviously the higher the deposit balance, the closer your will be to the 4.95% APY. Please be aware!
$0-$4999.99 is earning 0.25 APY
>$5000 is earning 4.95% APY
so if your deposit balance is $10k, then you are only earning 2.6% APY effectively. Obviously the higher the deposit balance, the closer your will be to the 4.95% APY. Please be aware!
I'm not sure this is accurate, their site seems to indicate in the fine print it's 0.25% on accounts with less than $5000 and 4.95% on accounts with over $5000
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$0-$4999.99 is earning 0.25 APY
>$5000 is earning 4.95% APY
so if your deposit balance is $10k, then you are only earning 2.6% APY effectively. Obviously the higher the deposit balance, the closer your will be to the 4.95% APY. Please be aware!
"Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of June 16, 2023: 0.25% APY on balances of $0.01 to $4,999.99; 4.95% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100."