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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 01:36 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 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.
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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It has not in my experience and this why I'm canceling. ApparentlyI need to chase the high interest with these guys. Also their transaction speed has been very slow for me so if I need to pull money out of the account for big purchases it's taken more than a week for me sadly.
Never had an issue with the raises being automatic. Transactions take 2-3 days when I do them. Sucks that it didn't work out, but they have been my go to bank for savings for a while now.
Glad you're having a good experience. I understand not everyone's experience is the same, just sharing mine. Last I called them about increasing my interest rate they said I needed to open a new account, and the most recent bank transfer I needed to make to buy a new car took 6 business days to clear unfortunately. I nearly missed out on the car because of that
I agree, I wouldn't recommend opening a bank with CIT, also their customer service is terrible, and took 5 days to transfer a down payment for a vehicle. ALLY BANK IS MUCH BETTER
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I never understood why some banks can do a large ach transfer limit while others can't.
My question is why does CITBank requires $5000 for this savings account? While other banks that have 5% don't.
Because they want you to deposit money, so they can lend it…
Think of it as tiered interest rate, not a blended interest rate account.
Which would be why their FAQ calls it tiered.
Like…after dark…?
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.
Powza knows what's up
BlackRock isn't exactly no-name, but point taken.
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It was a pretty jarring experience I am not happy they got all of my personal information but i am glad I didn't put any significant amount of money into their accounts.