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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+160 Deal Score
428,331 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 02:36 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 10:27 AM by EfficientGame645
in Financial Tools & Services (6) CIT Bank
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5.00% APY*

Community 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.

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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 Dec 2010
L6: Expert
> bubble2 1,735 Posts
186 Reputation
blackbeasst
12-02-2023 at 09:28 AM.
12-02-2023 at 09:28 AM.
Quote from eevli :
The APY has dropped to 5
Just opened mine last week and account still shows apy of 5.05.
Reply
Joined Mar 2008
L3: Novice
> bubble2 216 Posts
26 Reputation
Desi4Life
12-03-2023 at 11:03 AM.
12-03-2023 at 11:03 AM.
Quote from Powza :
This here is a pretty bad deal, especially if you have state with income tax.
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.
What should be the term that one should look for when doing auto-roll t-bills? Also, how do i calculate how I am getting the interest in fidelity, can't seem to figure out the math when I am buying 3 t-bills.
Reply
Joined Jan 2009
PC Master Race
> bubble2 855 Posts
96 Reputation
Hkxyz
12-03-2023 at 04:31 PM.
12-03-2023 at 04:31 PM.
You don't need direct deposit to get the 5% rate, is that correct with CIT ?
Reply
Joined Feb 2014
L3: Novice
> bubble2 258 Posts
124 Reputation
eeeinator
12-04-2023 at 05:58 AM.
12-04-2023 at 05:58 AM.
Quote from Hkxyz :
You don't need direct deposit to get the 5% rate, is that correct with CIT ?
correct
Reply
Joined Jan 2009
PC Master Race
> bubble2 855 Posts
96 Reputation
Hkxyz
12-04-2023 at 09:28 AM.
12-04-2023 at 09:28 AM.
Quote from eeeinator :
correct
thank you
Reply
Joined Sep 2016
L3: Novice
> bubble2 114 Posts
10 Reputation
dmitriylaz
12-05-2023 at 10:26 AM.
12-05-2023 at 10:26 AM.
Quote from BenM5 :
you guys should get western alliance it is 5.2%. the raisin ui is clean, app is ok.

Not sure why you're getting downvoted as I got a 16 month no penalty CD at 5.4% from them last month
Reply
Joined Oct 2012
L7: Teacher
> bubble2 2,092 Posts
241 Reputation
BenM5
12-06-2023 at 01:53 AM.
12-06-2023 at 01:53 AM.
Quote from dmitriylaz :
Not sure why you're getting downvoted as I got a 16 month no penalty CD at 5.4% from them last month
Well SD probably get ref bonus form CIT and there are many banks offer higher rate. there is a reason that it gets to front page every couple weeks. laugh out loud
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Joined Jan 2008
L3: Novice
> bubble2 287 Posts
26 Reputation
kebuchan
12-06-2023 at 10:15 AM.
12-06-2023 at 10:15 AM.
Has anyone used Bread Financial? I just created an account there .. HYSA is 5.15%. 1 Yr CD is at 5.50%. the big PITA is the time to transfer the funds and a 7 business day way for them to release them. Hoping it was just the initial transfer.. UFBDirect has good rates too... As does Raisin... But not sure about if the Raisin setup is trustworthy (??)..
Reply
Joined Jul 2013
L6: Expert
> bubble2 1,839 Posts
85 Reputation
AnthonyA1569
12-09-2023 at 12:23 PM.
12-09-2023 at 12:23 PM.
Quote from BenM5 :
Well SD probably get ref bonus form CIT and there are many banks offer higher rate. there is a reason that it gets to front page every couple weeks. laugh out loud

lol. new name after new name
Reply
Last edited by AnthonyA1569 December 9, 2023 at 12:26 PM.
Joined Apr 2013
L3: Novice
> bubble2 113 Posts
14 Reputation
chosendragon
12-10-2023 at 09:44 AM.
12-10-2023 at 09:44 AM.
milli bank has 5.50%. app only
Reply
Joined Sep 2012
L3: Novice
> bubble2 157 Posts
20 Reputation
JoshT1444
12-11-2023 at 07:39 AM.
12-11-2023 at 07:39 AM.
FNBODirect, online form of First National Bank of Omaha is 5.15% APY. No monthly Limit.

https://www.fnbodirect.com/

They have been my bank of choice for many years.
Reply
Joined Dec 2014
L2: Beginner
> bubble2 79 Posts
65 Reputation
sghov0106
12-11-2023 at 08:45 AM.
12-11-2023 at 08:45 AM.
do they do atm fee rebates and is there a limit on how many ach transfers you can withdraw per month?

thanks!
Reply
Joined Nov 2014
L4: Apprentice
> bubble2 410 Posts
26 Reputation
zmm61
12-15-2023 at 09:15 AM.
12-15-2023 at 09:15 AM.
Quote from blackbeasst :
Just opened mine last week and account still shows apy of 5.05.
Where to check? I know these type of account could be very dynamic in rate change. Good to check from time to time.
Reply
Joined Dec 2010
L6: Expert
> bubble2 1,735 Posts
186 Reputation
blackbeasst
12-15-2023 at 04:41 PM.
12-15-2023 at 04:41 PM.
Quote from zmm61 :
Where to check? I know these type of account could be very dynamic in rate change. Good to check from time to time.
In the app: tap on your account and the tap "view account details" below it. That'll give you everything from routing number to interest details.
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Joined Oct 2014
L2: Beginner
> bubble2 45 Posts
14 Reputation
bigmik1021
12-16-2023 at 10:15 AM.
12-16-2023 at 10:15 AM.
Quote from WiseAppliance910 :
Not that slick.
There are other banks offering 5.20+ apy

Please share whom
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