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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+161 Deal Score
423,710 Views
Update: This deal is still available.

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
Slickdeals may be compensated by CIT Bank
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Original Post

Written by
Edited September 17, 2024 at 01:36 PM 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
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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.

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Featured Comments

I've been banking with them for nearly 5 years. No major problems. My only issue is that their phone app is severely limited & kind of sucks. Other than that, if you send money, it arrives quickly & interest rates automatically raise without having to contact them. They seem to stay pretty competitive when it comes to the highest interest rate. I really like them & trust them with my money.

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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You have more issues than just missing out on $10k!
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Have been banking with them for many years. No issues, fast transfers, can manage everything online including closing accounts. Only negative is that their phone support sucks since they encourage online banking only, and they keep adding new account types with higher rates, and you have to open an account and transfer money to new account (which is pretty painless and done within minutes online)
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Joined Feb 2019
L2: Beginner
> bubble2 29 Posts
10 Reputation
Mr.TheDude
09-22-2023 at 10:02 AM.
09-22-2023 at 10:02 AM.
Their app is horseshit. But their website is fine. I like banking with them.
Reply
Joined Feb 2020
L2: Beginner
> bubble2 71 Posts
10 Reputation
FizzyVann
09-22-2023 at 03:20 PM.
09-22-2023 at 03:20 PM.
This is higher than my current HYSA, and I already have a CD with them from a while back. Easy decision to open another account in <5 minutes and transfer the funds over for the extra interest.
Reply
Joined Apr 2006
L10: Grand Master
> bubble2 9,649 Posts
1,049 Reputation
Tnyc
09-22-2023 at 03:57 PM.
09-22-2023 at 03:57 PM.
Viobank is offering 5.25% for their money market account here:
https://www.viobank.com/

Has anyone done business with them? How are they compared to the others?
Reply
Joined Aug 2015
L2: Beginner
> bubble2 53 Posts
86 Reputation
FL4055
09-22-2023 at 04:38 PM.
09-22-2023 at 04:38 PM.
If you have an online brokerage account and can trade on the Toronto stock exchange, you may want to consider two ETFs that work like high interest savings accounts. The tickers are HISU.U and PSU.U. Both are denominated in US dollars. Current yield is about 5.5%. Interest is paid out monthly as dividends. Funds are very safe because they are held as deposits at major Canadian banks.
Reply
Last edited by FL4055 September 22, 2023 at 04:46 PM.
Joined Nov 2012
L1: Learner
> bubble2 97 Posts
29 Reputation
yahooeu
09-22-2023 at 06:00 PM.
09-22-2023 at 06:00 PM.
Quote from HackrDeals :
I'm thinking of doing this. Which banks offer 5.20+?
https://www.depositaccounts.com/savings/
Reply
Joined Aug 2009
Buy Now. Think Later.
> bubble2 17,452 Posts
8,266 Reputation
Pro
PocketsThick
09-22-2023 at 08:17 PM.
09-22-2023 at 08:17 PM.
Quote from FL4055 :
If you have an online brokerage account and can trade on the Toronto stock exchange, you may want to consider two ETFs that work like high interest savings accounts. The tickers are HISU.U and PSU.U. Both are denominated in US dollars. Current yield is about 5.5%. Interest is paid out monthly as dividends. Funds are very safe because they are held as deposits at major Canadian banks.

Pff, we all saw what happened to the truckers during the COVID period in Canada. They started freezing people's bank funds. That place is super radical. A better option is to go with US treasures. They are state income tax free too. They are paying anywhere from 5.4-5.5%. Considered the safest investment you can make (unless the entire financial system collapses).
2
Reply
Joined Aug 2021
L2: Beginner
> bubble2 49 Posts
22 Reputation
TenseManatee8400
09-23-2023 at 04:46 AM.
09-23-2023 at 04:46 AM.
Quote from bagarwa :
What's their ACH transfer limits? I was looking into HYSAs few weeks ago and all the top banks I saw in the list had extremely poor transfer limits like $5000/month or something.

I was able to transfer 120k out in a single transaction without any problems
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Joined Nov 2014
L7: Teacher
> bubble2 2,947 Posts
572 Reputation
akula1488
09-23-2023 at 09:11 AM.
09-23-2023 at 09:11 AM.
how do I convince my wife? have $250k cash earning no interest and she wouldn't let me to open any kind of of CDs...missing $10k+ interest a year
Reply
Joined Mar 2012
L4: Apprentice
> bubble2 447 Posts
20 Reputation
MordyNYC
09-23-2023 at 09:54 AM.
09-23-2023 at 09:54 AM.
They they will lower it to zero soon enough.
Buy t bills from a month to 6 months. Well over 5% and leave some cash in your future failed bank.
Savings accounts are pointless IMO.
3
Reply
Joined Mar 2012
L4: Apprentice
> bubble2 447 Posts
20 Reputation
MordyNYC
09-23-2023 at 09:56 AM.
09-23-2023 at 09:56 AM.
Quote from akula1488 :
how do I convince my wife? have $250k cash earning no interest and she wouldn't let me to open any kind of of CDs...missing $10k+ interest a year
Find another one or just put it in t bills
Reply
Joined Apr 2005
L5: Journeyman
> bubble2 1,101 Posts
137 Reputation
Jayman007
09-27-2023 at 09:45 AM.
09-27-2023 at 09:45 AM.
Quote from bigballs :
Does the interest go up automatically for current account holders?
My interest automatically went up without having to do anything.

Also, interest for these accounts compunds daily.
Reply
Joined Oct 2008
L10: Grand Master
> bubble2 8,200 Posts
604 Reputation
DontTaxBeer
09-27-2023 at 09:20 PM.
09-27-2023 at 09:20 PM.
Quote from akula1488 :
how do I convince my wife? have $250k cash earning no interest and she wouldn't let me to open any kind of of CDs...missing $10k+ interest a year
i'd say find a better wife, but then you'll be parted with most of your $250k. LMAO why open up a cd for 5% when synchrony bank has 4.75% on savings accounts. there will be another bump this year from what i've read, so 5% CD's arent really luring me in.
Reply
Joined Jul 2012
L1: Learner
> bubble2 19 Posts
10 Reputation
newwaver80s
09-28-2023 at 12:06 PM.
09-28-2023 at 12:06 PM.
Quote from bigballs :
Does the interest go up automatically for current account holders?
Yes, interest rate adjusts automatically. I had mine adjusted.
Reply
Joined Jul 2018
L1: Learner
> bubble2 24 Posts
10 Reputation
NeatHalibut785
09-28-2023 at 02:04 PM.
09-28-2023 at 02:04 PM.
Where does it state daily compounding interest??
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Joined Dec 2018
L2: Beginner
> bubble2 37 Posts
14 Reputation
vamshisagar
10-03-2023 at 06:53 PM.
10-03-2023 at 06:53 PM.
can i close the account or withdraw anytime?
Reply
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