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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

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
Created 07-27-2023 at 09:27 AM by EfficientGame645
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+161
423,710 Views
5.00% APY*

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.
You have more issues than just missing out on $10k!
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 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 account anytime?
Reply
Joined Oct 2011
L6: Expert
> bubble2 1,219 Posts
173 Reputation
breaktheground
10-13-2023 at 02:00 PM.
10-13-2023 at 02:00 PM.
Random question:

Got my account all setup and cannot add an external checking account (BofA SoCal) and keep getting an error. It won't send passcode to phone and flags an error. Called back and they said they may be experiencing issues and they reported it to IT. this was two weeks ago and still cannot add external account.

I just want a way to transfer funds to my checking account. Is there a way around this?
Reply
Joined Jan 2009
L5: Journeyman
> bubble2 980 Posts
68 Reputation
hankook
10-17-2023 at 03:18 PM.
10-17-2023 at 03:18 PM.
Quote from hackrdeals :
i'm thinking of doing this. which banks offer 5.20+?

vio bank
Reply
Joined Feb 2019
L2: Beginner
> bubble2 71 Posts
33 Reputation
maindimon
10-17-2023 at 07:21 PM.
10-17-2023 at 07:21 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
get a new wife
1
Reply
Joined Mar 2007
L4: Apprentice
> bubble2 379 Posts
72 Reputation
girlegirl7101
10-17-2023 at 08:52 PM.
10-17-2023 at 08:52 PM.
What's the easiest way to transfer funds from bofa to Cit? Is there a daily limit?
Reply
Joined Feb 2018
L3: Novice
> bubble2 102 Posts
26 Reputation
manfredkwg
10-17-2023 at 08:53 PM.
10-17-2023 at 08:53 PM.
Reply
Last edited by manfredkwg October 17, 2023 at 08:58 PM.
Joined Feb 2018
L3: Novice
> bubble2 102 Posts
26 Reputation
manfredkwg
10-17-2023 at 08:59 PM.
10-17-2023 at 08:59 PM.
Quote from maindimon :
get a new wife
Offer her a portion of the profits as extra spending money, vacation, other.

Explain these banks offer FDIC insurance.

Give an option to move the money back in 3-6 months if she is unhappy.
Reply
Last edited by manfredkwg October 17, 2023 at 09:02 PM.

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Joined Jul 2005
L9000: Broke Member
> bubble2 3,727 Posts
584 Reputation
EffinAhole
10-17-2023 at 09:00 PM.
10-17-2023 at 09:00 PM.
Be careful. Some of these smaller banks have really low daily/monthly withdrawal limits. So if you put a large amount of funds in, it could take you a while to pull it out without maybe paying for a wire transfer or something.

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
Im just curious, what would the reason be she doesn't want a cd? You rather have it make no interest than thousands of dollars each year? There are lots of savings accounts with decent interest rates right now too so....
Reply
Last edited by EffinAhole October 17, 2023 at 09:03 PM.
Joined Nov 2014
L7: Teacher
> bubble2 2,947 Posts
572 Reputation
akula1488
10-17-2023 at 11:12 PM.
10-17-2023 at 11:12 PM.
Quote from EffinAhole :
Be careful. Some of these smaller banks have really low daily/monthly withdrawal limits. So if you put a large amount of funds in, it could take you a while to pull it out without maybe paying for a wire transfer or something.



Im just curious, what would the reason be she doesn't want a cd? You rather have it make no interest than thousands of dollars each year? There are lots of savings accounts with decent interest rates right now too so....
she is worried about bank failures
Reply
Joined Feb 2010
L4: Apprentice
> bubble2 369 Posts
30 Reputation
str8slick
10-18-2023 at 08:32 AM.
10-18-2023 at 08:32 AM.
I banked with them before, they drop the rate all of a sudden. seems like these rates are promotional and after about a year they'll drop the rate to something abysmal.
1
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 08:32 AM.
10-18-2023 at 08:32 AM.
Quote from manfredkwg :
Popular Direct offering 5.4%

https://www.investopedia.com/best...ts-4770633
I tried opening one with them - 3 weeks later when I followed up they said there was a glitch and I need to start over! Not a good sign.

They have no idea what went wrong! They never reached out to me to inform this either.
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 08:39 AM.
10-18-2023 at 08:39 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
Take a piece of paper and write down why you should open vs why you shouldn't
Ask your wife to write down why you shouldn't - then call the bank and address all those concerns. This will take you in the right direction. Listen to her but address her concerns - you need to identify the bank of your choice, and plan B/Cs. Challenge each other & find the right bank

Put your wife on the phone with the bank.
Reply
Last edited by ms2000 October 18, 2023 at 11:47 AM.
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 08:54 AM.
10-18-2023 at 08:54 AM.
Quote from sams4522 :
Dime community bank 5.55 saving aspire rebate davings . With Checking
The $10k in your checking will earn 0% - no good => 3.92% APY
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 08:57 AM.
10-18-2023 at 08:57 AM.
Quote from thekingofdeals :
if you want a no frills savings account ivybank has decent rate and they have been slowly increasing it with fed increases. bit higher rate than wealthfront 4.8%

apy: 5.316%
interest rate: 5.180%

https://www.ivybank.com/savings
high-yield savings

our high-yield savings account1, 2 offers you our best rate to bring you the highest return on your savings.

nationally competitive rate
$2,500 minimum opening balance
$2,500 minimum balance to earn disclosed apy
fdic insured3
5%apy
Reply

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Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 09:49 AM.
10-18-2023 at 09:49 AM.
Is there a source that shows historical interest rate? So we know the trend.

Are people here recommend another bank for better interest with a good bank!

em, Some banks offering attractive rates but has terrible reviews on Yelp - money missing! Some complaints might be customer is missing the details. But unlikely not money going missing! BrioDirect

What is that good bank with better rate (not the top rate)?
Reply
Last edited by ms2000 October 18, 2023 at 11:17 AM.
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