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CIT Bank Platinum Savings: Earn Up to Expired
5.00% APY*
Update: This deal is still available.
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
- Must have a minimum daily balance of $5000 to earn 5.05% -> now 5.00% 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 September 17, 2024
at 01:36 PM
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
- Must have a minimum daily balance of $5000 to earn 4.85% APY
- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
- *See site for details
Created 07-27-2023
at 09:27 AM
by EfficientGame645
in
Financial Tools & Services
(6)
CIT Bank
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Community Wiki
Last Edited by Punishark
September 3, 2024
at
10:45 AM
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 September 3, 2024:
0.25% APY on balances of $0.01 to $4,999.99;
5.00% 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.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
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APYs — Annual Percentage Yields are accurate as of September 3, 2024:
0.25% APY on balances of $0.01 to $4,999.99;
5.00% 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.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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UPDATE: As of 06 NOV 23, the app on Android has been updated and reflects a top tier online banking experience. Very happy with the improvements that have been made.
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Yes. It has gone up for me every time.
Just buy treasuries instead. It is super easy at Fidelity and you can auto-roll when they mature.
Or if treasuries sounds too complex you can buy VUSXX (Vanguard Treasury Money Market Fund). Current yield is 5.1% and it is state tax exempt.
Or if all of the above sounds too complex, you can just open Vanguard brokerage account. All your unused cash is automatically invested in VMFXX (Vanguard Federal Money Market Fund) with current yield 5.09%. Note that this is not 100% state tax exampt, so you will have to do some math come tax time.
Mine has been going up automatically the past two times they raised it.
ACH Transfer limit is:
$150,000 per transaction
$250,000 per day
$300,000 per month
There are other options out there, don't mean to steal the thread.
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Update: I just spoke with a CIT rep to confirm - and that is the case - those limits were removed during covid - BUT... it doesn't apply to the CIT Platinum Savings as you can't bill pay through that account - just echecking and money markets (which give lower rates)...
Bummer - but good info to know...
So if you're doing this to bill pay through CIT, open both a Platinum Savings and echecking...
Hope this helps someone...
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5.06% > 5%
what's their minimum balance to get that apy?
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https://www.investopedia.com/best...ts-4770633 [investopedia.com]
CFG bank, 5.17% interest, has slightly better reviews; but is still below average.
As to the rest of the list, I'll leave that for others to check on their own. Or to chime in on their personal experiences.
the ones i have tried have been disastrous
namely synchronybank and ally
ended up with kasasa credit unions and so far so good
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So if trust a bank more at 5% apy while the bank I don't trust offers something a little higher like 5.06% than I'm going with the bank that I trust more.