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
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
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Check Out Similar Financial Tools & Services Deals
View AllFrontpage
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.
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.
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.
680 Comments
Your comment cannot be blank.
Featured Comments
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.
Sign up for a Slickdeals account to remove this ad.
I opened mine when their APR was 4.95%, automatically bumped me to 5.05%.
My only complaint when transferring money is it seems like it takes days to process.
Personally, I like marcus more, the interest rate is way lower, but seems like they process transactions fast, but hard to compete with a %5.05 interest
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.
Worth looking into, thanks. Savings accounts like this HYSA are good for that emergency money that should be kept liquid and easily accessible for a rainy day. I would not be using this as an investment vehicle.
For example - sending from a SoFi (linked account) >> CitBank/Platinum
SoFi >> transfer funds to >> CitBank/Platinum Account (in the morning at say 9AM EST)
CitBank funds show up in the account same day (and start earing interest) by 5 PM EST (or earlier than 5pm)
Note - Avoid bank transfers on a Friday from the sending bank unless it's done early morning...
I learnt of this from none other than a CitBank CS.
Hope this helps.
When done correctly it's essentially an equivalent of checking account. It is 100% liquid money invested in US Treasury market.
You can even enroll in checkwriting feature with Vanguard brokerage, though it has some limitations (you can only write checks $250 and more).
Fidelity also has similar account. Be sure to apply for brokerage not CMA, as brokerage has high yeild treasury rates for uninvested cash. No checkwriting in Fidelity brokerage I believe. But you can open 2 accounts - CMA and Brokerage and treat CMA as checking with debit card and Brokerage as savings.
Sign up for a Slickdeals account to remove this ad.
any minimum transfer to open account and balance that needs to be maintained?
I opened mine when their APR was 4.95%, automatically bumped me to 5.05%.
My only complaint when transferring money is it seems like it takes days to process.
Personally, I like marcus more, the interest rate is way lower, but seems like they process transactions fast, but hard to compete with a %5.05 interest
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.
Sign up for a Slickdeals account to remove this ad.
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.
Also, I think USFR ETF is even a better option than the Vanguard fund because:
1) you will earn a higher yield - currently around 5.37% (and it's also state tax exempt)
2) doesn't require you do open a vanguard account