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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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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If rate is the same, should I go for 9,12, or 18 months?
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Thank you for that. Sounds like either way, it's better than what my credit union is giving me with my 50k sitting there doing nothing.
Wealthfront seems to be iffy at the moment, I'm not well informed but look at the subreddit
A recent Forbes article shows that they are profitable, so, I'm really not worried about that aspect .. I don't see Robinhood or betterment freaking out in subreddit either in comparison as to why I'm still parked here
If rate is the same, should I go for 9,12, or 18 months?
Here are the details:
The current interest rate on your Platinum Savings account is 4.879%, with an APY of 5.00%.*
We'll increase your interest rate by 0.096% for the next 12 months.
That means your new interest rate will be 4.975%, and your APY will be 5.10%.*
And don't worry if the standard, published interest rate on the account changes, your interest rate will move with it, remaining 0.096% higher than the published interest rate for the next 12 months.
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Here are the details:
And another question - do I need to leave it in for a while (CD-like) to get the increased rate? Thanks in advance.