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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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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 Nov 2013
New User
> bubble2 1 Posts
10 Reputation
sams4522
10-18-2023 at 10:20 AM.
10-18-2023 at 10:20 AM.
Quote from ms2000 :
The $10k in your checking will earn 0% - no good => 3.92% APY

Depends on the balance ,you are talking min requirements .for large balances it has little effect .
Reply
Joined Aug 2008
L6: Expert
> bubble2 1,052 Posts
91 Reputation
la9era
10-18-2023 at 11:36 AM.
10-18-2023 at 11:36 AM.
I opened an account last month with CIT Bank. I am now trying to link my Chase bank to CIT through the Chase website but it's not going through.
I'm getting this message "It looks like the data access provider is having trouble linking with us. Please try again"
Has anyone had issues linking their bank account to CIT?
Reply
Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
2,718 Reputation
cgigate
10-18-2023 at 11:51 AM.
10-18-2023 at 11:51 AM.
Quote from la9era :
I opened an account last month with CIT Bank. I am now trying to link my Chase bank to CIT through the Chase website but it's not going through.
I'm getting this message "It looks like the data access provider is having trouble linking with us. Please try again"
Has anyone had issues linking their bank account to CIT?

You should manually link with routing number and account number ,it takes few days to get two small amounts deposit to get it verified.
you should not have problem
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 11:53 AM.
10-18-2023 at 11:53 AM.
Quote from sams4522 :
Depends on the balance ,you are talking min requirements .for large balances it has little effect .
Yeah, if u have 185000, you earn 5.25% effective rate
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-18-2023 at 01:00 PM.
10-18-2023 at 01:00 PM.
Quote from manfredkwg :
Popular Direct offering 5.4%

https://www.investopedia.com/best...ts-4770633
Reviews from all resources including Yelp? I gave up on BrioDirect - money disappearing
Reply
Joined Sep 2007
L3: Novice
> bubble2 213 Posts
37 Reputation
grendel20
10-18-2023 at 07:50 PM.
10-18-2023 at 07:50 PM.
Checked the website - they're still at 5.05% even though interest rates have risen. meh.
2
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Joined Mar 2014
L4: Apprentice
> bubble2 499 Posts
30 Reputation
annonymous999
10-19-2023 at 07:53 AM.
10-19-2023 at 07:53 AM.
This still sucks go with the vanguard v u s xx or vmf XX and get the state tax advantage on the v us XX if you have States income tax and a higher rate
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Joined Jun 2019
New User
> bubble2 14 Posts
10 Reputation
HandsomeT
10-22-2023 at 12:45 AM.
10-22-2023 at 12:45 AM.
Quote from musicguyom :
Just do t bills, can still get better rates.
Agreed and T-Bill interest is state tax free and purchasing them is much easier than opening a new bank account. If you already have a brokerage account, i.e. Morgan Stanley, Charles Schwab, etc, you can buy T-Bills with a single click. Many brokerages don't even charge a fee to buy treasuries.
Reply
Joined Apr 2020
L2: Beginner
> bubble2 80 Posts
22 Reputation
MaroonPear7089
10-22-2023 at 06:28 AM.
10-22-2023 at 06:28 AM.
How hard is it to set up a joint savings account with CIT? I am currently with Citi and was able to set up a joint checking online but savings was not available joint when opening and to change it to joint they are demanding that I fill in notarized documents (which makes no sense since we already have a joint checking account)
Reply
Joined Mar 2006
L6: Expert
> bubble2 1,074 Posts
1,092 Reputation
fifty2weekhi
10-24-2023 at 08:06 AM.
10-24-2023 at 08:06 AM.
Deal posted since July?!
Reply
Joined Mar 2006
L6: Expert
> bubble2 1,074 Posts
1,092 Reputation
fifty2weekhi
10-24-2023 at 08:07 AM.
10-24-2023 at 08:07 AM.
Quote from MaroonPear7089 :
How hard is it to set up a joint savings account with CIT? I am currently with Citi and was able to set up a joint checking online but savings was not available joint when opening and to change it to joint they are demanding that I fill in notarized documents (which makes no sense since we already have a joint checking account)
Citi account set up and access are the most frustrating experience.
Reply
Joined Jul 2022
L3: Novice
> bubble2 204 Posts
77 Reputation
UniqueDime9033
10-24-2023 at 08:09 AM.
10-24-2023 at 08:09 AM.
CIT has good rates but it put a bad taste in my mouth when they created a new tier of accounts and thus gave me much much less on my current account. I moved all my money to the new one with the good rates, but felt like a bait and switch.
Reply
Joined Oct 2010
Live Free or Move
> bubble2 29,827 Posts
7,238 Reputation
Medic311
10-24-2023 at 08:33 AM.
10-24-2023 at 08:33 AM.
First Foundation Bank compound yield is 5%

Vanguard Treasury Money Market compound yield is 5.42%

No minimums
1
Reply
Joined Oct 2010
Live Free or Move
> bubble2 29,827 Posts
7,238 Reputation
Medic311
10-24-2023 at 08:37 AM.
10-24-2023 at 08:37 AM.
Quote from HandsomeT :
Agreed and T-Bill interest is state tax free and purchasing them is much easier than opening a new bank account. If you already have a brokerage account, i.e. Morgan Stanley, Charles Schwab, etc, you can buy T-Bills with a single click. Many brokerages don't even charge a fee to buy treasuries.
you can buy treasury money market funds which do all of that for you, at negligible expense ratio, and you still et the state income tax exemption benefits. and it operates like a bank account. meaning highly liquid, you can have your money in 1 business day

can get 5.42% compound yield at vanguard.
1-mo t-bill is 5.57% currently
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Joined Nov 2015
L4: Apprentice
> bubble2 361 Posts
174 Reputation
LuckyUser777
10-24-2023 at 09:08 AM.
10-24-2023 at 09:08 AM.
Quote from Dominican1NYC :
I've been banking with them for nearly 5 years. No issues. 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.
Glad I read your comment! I just set up an account and was worried when I used the app, it really is pretty poor.
Reply
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