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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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UFB is part of Axos bank and is fdic insured. 5.25
1. Unable to log-in, however, my acct was not locked. After 30+ mins, response back from IT was mere speculation.
2. Two factor authentication showed three phone numbers that were not mine. This happened three different days. Reverted back to my phone number days later.
3. More, but I'm not typing all that.
This bank is part of the Flagstar Bank N.A., and FDIC insured.
I'm not someone that would transfer in and out of banks, unless we're talking about 1% or more difference in interest rate.
If you're depositing less than $22,000, then it's really not worthy. Personally, your interest income should be $100 or more per month on this hysa. With 5.5%, you'd just need to put in $22,000 to earn $100 interest a month.
I'd worry about stability. Flagstar's parent company, New York Community Bancorp lost $327 million Q1 2024 and doesn't expect to turn a profit until 2026.
This leaves potential for Flagstar to be sold to another bank or worse.
Of course, one could argue your deposit is FDIC insured, but take a look at peoples experiences with that online.
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This leaves potential for Flagstar to be sold to another bank or worse.
Of course, one could argue your deposit is FDIC insured, but take a look at peoples experiences with that online.
Looks like they gonna change to something called "Simplified Banking". It is not clear if their lowest tier will pay an APR or not.
Anyone know?
Marcus
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While CIT was great in terms of quickly receiving transfers in and accruing interest, when it came time to close the account, remove my personal information, etc... they dragged their feet and were not as helpful. I found it very difficult to fully close the account when contacting their CS Team; I had to reach out 3 separate instances before it was enacted.
In terms of removing personal information from their company, I live in CA. I have rights to receive a copy of personal information and have it deleted at my discretion. I've contacted CIT Bank 4 times now, and always receive the same information. "We're working on it, you should have received mail confirmation of the activities by this point.. we'll resend to your mailing address on file".
Based on my experience with the difficulty of closing account, and the now 6-month ongoing process of trying to get my personal information from their institution... my advice is just keep these things in mind if you plan to close your account after a period of time in the future.