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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+160 Deal Score
428,363 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 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
Created 07-27-2023 at 10:27 AM by EfficientGame645
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+160
428,363 Views
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.
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 Jan 2023
New User
> bubble2 13 Posts
18 Reputation
445kim
01-17-2024 at 03:07 AM.
01-17-2024 at 03:07 AM.
I ended up closing my account. CIT offered a high interest rate but after 6 - 12 months, they lowered the rate to 50% of what I signed up for. It felt like a bait and switch to me. Svc was thin as well and online portal anemic. A bank like DISC is better - relatively high rates, stellar customer svc agents based in the U.S. and great online portal.
2
Reply
Joined Apr 2006
L3: Novice
> bubble2 227 Posts
22 Reputation
pmark
01-17-2024 at 09:53 AM.
01-17-2024 at 09:53 AM.
Quote from 445kim :
I ended up closing my account. CIT offered a high interest rate but after 6 - 12 months, they lowered the rate to 50% of what I signed up for. It felt like a bait and switch to me. Svc was thin as well and online portal anemic. A bank like DISC is better - relatively high rates, stellar customer svc agents based in the U.S. and great online portal.
what did they lower it to? My is still 5.05%
Reply
Joined Oct 2011
L3: Novice
> bubble2 148 Posts
26 Reputation
blackmarlin8
01-18-2024 at 08:15 AM.
01-18-2024 at 08:15 AM.
Savings/CD vi brokers has better rates and terms, Check out

raisin.com
Reply
Joined May 2007
The Whole F'n Show
> bubble2 5,329 Posts
440 Reputation
RVD26
01-18-2024 at 10:28 AM.
01-18-2024 at 10:28 AM.
I've had this account for about a year now and the one thing I hate is that transfers to and from the account take FOREVER. It takes damn near a whole week for a transfer to go through.
Reply
Joined Sep 2013
L3: Novice
> bubble2 218 Posts
42 Reputation
nosense
01-19-2024 at 07:01 AM.
01-19-2024 at 07:01 AM.
Quote from RVD26 :
I've had this account for about a year now and the one thing I hate is that transfers to and from the account take FOREVER. It takes damn near a whole week for a transfer to go through.
If you do it through CIT it takes a week. But if you send the money from where the money is located at. It's 1-2 days, for me using chase banking.
Reply
Joined Nov 2023
L1: Learner
> bubble2 3 Posts
21 Reputation
ShrewdPlastic8963
01-19-2024 at 07:28 AM.
01-19-2024 at 07:28 AM.
Quote from nosense :
If you do it through CIT it takes a week. But if you send the money from where the money is located at. It's 1-2 days, for me using chase banking.

Yes, exactly. Pushing funds to CIT is much faster than pulling funds to CIT.
Reply
Joined Jun 2014
L5: Journeyman
> bubble2 622 Posts
76 Reputation
akpuggy
01-21-2024 at 06:16 AM.
01-21-2024 at 06:16 AM.
Would CD have better rates if I do not plan to take money for at least 12m? I guess this seems close enough to any CD rates I've seen, but my question is if they will be able to severity lower interest in less than 12 months if it falls?
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Joined Jul 2015
L4: Apprentice
> bubble2 395 Posts
121 Reputation
fiveighteen
01-21-2024 at 12:02 PM.
01-21-2024 at 12:02 PM.
Quote from akpuggy :
Would CD have better rates if I do not plan to take money for at least 12m? I guess this seems close enough to any CD rates I've seen, but my question is if they will be able to severity lower interest in less than 12 months if it falls?

They can lower the rate at any time, so compared to a CD you're trading immediate access to your money vs locked rate. That said, I've had an account for about 6 months and it's been over 5% the entire time.
Reply
Joined Mar 2005
L5: Journeyman
> bubble2 540 Posts
161 Reputation
lavangbay
01-22-2024 at 09:48 AM.
01-22-2024 at 09:48 AM.
Quote from amax :
SoFi is a terrible fintech scam
how's so?
Reply
Joined Jun 2007
ღ ♥ (=^.^=) ♥ ღ
> bubble2 6,015 Posts
7,542 Reputation
Pro
Stars09
01-22-2024 at 12:02 PM.
01-22-2024 at 12:02 PM.
Quote from ms2000 :
I sent a DM Thanks
Did u find out who it is?
Quote from PocketsThick :
Because these no name banks hold your money hostage. CIT will let you move large sums of money per month. That no name bank most likely only allows you to transfer out several thousands of dollars PER MONTH. When you have large amounts of money it's no good. You'd be stuck in that bank.
R they more than $30k per month rolling outbound? That's what I'm getting at my 5.25% acct.
Reply
Last edited by Stars09 January 22, 2024 at 03:34 PM.
Joined Aug 2009
Buy Now. Think Later.
> bubble2 17,610 Posts
8,286 Reputation
PocketsThick
01-22-2024 at 10:04 PM.
01-22-2024 at 10:04 PM.
Quote from Stars09 :
Did u find out who it is?

R they more than $30k per month rolling outbound? That's what I'm getting at my 5.25% acct.
Cit has no monthly cap. It is very rare at this APY yield. I don't know of another bank with an APY above 5% with no monthly withdrawal outbound cap. It's special for sure. FDIC insures up to $250k. Being able to move $250k worth of money around with a click is a beautiful thing.
Reply
Last edited by PocketsThick January 22, 2024 at 10:06 PM.
Joined May 2006
L8: Grand Teacher
> bubble2 3,168 Posts
862 Reputation
RedStripeE90
01-23-2024 at 05:11 AM.
01-23-2024 at 05:11 AM.
VioBank currently offers 5.30% on their money market savings account. Anyone have my experience with them?
Reply
Joined Nov 2015
Slicker than deal
> bubble2 1,612 Posts
267 Reputation
Playstation4
01-23-2024 at 09:19 AM.
01-23-2024 at 09:19 AM.
Quote from RedStripeE90 :
VioBank currently offers 5.30% on their money market savings account. Anyone have my experience with them?
I had them for a few years. Pretty much barebone non-existent user interface on mobile and website. If you just need to keep money in there it works but there are no features. It's an online only subsidiary of another bank (MidFirst).
Reply
Joined Oct 2015
L8: Grand Teacher
> bubble2 3,850 Posts
568 Reputation
goodness97
01-23-2024 at 09:42 AM.
01-23-2024 at 09:42 AM.
Do they have a physical bank location, or is it only online?
Reply

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Joined Dec 2014
L2: Beginner
> bubble2 79 Posts
65 Reputation
sghov0106
01-23-2024 at 10:05 AM.
01-23-2024 at 10:05 AM.
Quote from goodness97 :
Do they have a physical bank location, or is it only online?
Only online
Reply
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