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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 02:36 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 10:27 AM
by EfficientGame645
in
Financial Tools & Services
(6)
CIT Bank
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View AllCommunity Wiki
Last Edited by Punishark
September 3, 2024
at
11:45 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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I did speak with their customer service for sure though to close the other account and it was easy and the service was good.
I had a Savings Connect account with CIT Bank at 4.5% and I just went on the app to create a new account. It was very easy and transferred the money immediately.
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.
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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Mostly the APY you can get higher than the Federal funds rate are U.S. treasuries or CDs. That is true today.
The last time the federal funds rate was high was 2007 aka the great financial crisis. Recession.
Then the time before that, it spiked up in 2000. The dot com stock market crash. Recession.
Notice a theme? Recessions can lag 12-18 months. We might see one soon.....
Mostly the APY you can get higher than the Federal funds rate are U.S. treasuries or CDs. That is true today.
The last time the federal funds rate was high was 2007 aka the great financial crisis. Recession.
Then the time before that, it spiked up in 2000. The dot com stock market crash. Recession.
Notice a theme? Recessions can lag 12-18 months. We might see one soon.....
NM. Seems you have to click in the box and then it shows that it's optional. All good.
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Have this account for several months now. Great rate on a savings account, CIT is owned by First Citizens Bank.