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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+161 Deal Score
438,951 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 01:36 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 09:27 AM by EfficientGame645
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+161
438,951 Views
5.00% APY*

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.

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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 Jul 2009
L2: Beginner
> bubble2 70 Posts
38 Reputation
sandsrfr
06-23-2024 at 10:25 AM.
06-23-2024 at 10:25 AM.
Tried to 'schedule' a large transfer at the end of week and that didn't pop up the promo and the transfer scheduled. Cancelled that and tried the same large transfer for 'One time (Send Today)' and that did the trick to get the added APY. Thank You!

Also been a CIT customer for years. Have moved money internally to play the better savings account rate with them as well. Easy to move in/out and they have free wire's for large account balances if you ever need money instantly.
Reply
Joined Mar 2007
L5: Journeyman
> bubble2 692 Posts
234 Reputation
Trav06
06-23-2024 at 11:01 PM.
06-23-2024 at 11:01 PM.
I tried like 10x to open this account and was rejected for some unknown reason. I tried calling and couldn't get any further explanation or opportunity to open an account. I have excellent credit and have never had any issues opening other accounts or with credit approval, so I don't know what was the problem. I'm kind of glad it didn't work out because it led me to Wealthfront which is offering the same 5% and seems a lot better.
1
Reply
Last edited by Trav06 June 24, 2024 at 09:05 AM.
Joined Mar 2004
L6: Expert
> bubble2 1,652 Posts
202 Reputation
Bobloadmire
06-24-2024 at 12:29 PM.
06-24-2024 at 12:29 PM.
Anyone paying off credit cards using this savings account number / routing?
Reply
Joined Apr 2008
L6: Expert
> bubble2 1,192 Posts
48 Reputation
lmbb20
06-25-2024 at 05:25 AM.
06-25-2024 at 05:25 AM.
I stopped bank rate chasing since they almost all bait and switch and just keep my money in spaxx. It's like 5%
Reply
Joined Oct 2013
L4: Apprentice
> bubble2 354 Posts
58 Reputation
Ultra1337
06-26-2024 at 03:36 PM.
06-26-2024 at 03:36 PM.
You get like 5.3% in a vanguard brokerage, with higher insurance limits and a bigger company.
1
Reply
Joined Jan 2024
L2: Beginner
> bubble2 49 Posts
18 Reputation
JollyClover1887
06-27-2024 at 12:09 AM.
06-27-2024 at 12:09 AM.
great deal 😀
Reply
Joined Jan 2011
Slick Thiefs
> bubble2 1,051 Posts
902 Reputation
phantasyx
06-27-2024 at 11:28 AM.
06-27-2024 at 11:28 AM.
switched from cit to flagstar at 5.55%
1
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Joined Apr 2013
L3: Novice
> bubble2 188 Posts
16 Reputation
Mike.y152
06-28-2024 at 07:21 AM.
06-28-2024 at 07:21 AM.
Just signed up with wealthfront 5.5% with referral code. Recommended by coworker. Looks good so far!
Reply
Joined Feb 2006
L6: Expert
> bubble2 1,583 Posts
610 Reputation
Sdiver2489
06-29-2024 at 08:30 PM.
06-29-2024 at 08:30 PM.
Quote from phantasyx View quoted comment :
switched from cit to flagstar at 5.55%
Sounds like you'll be changing again after 5 months
Reply
Joined Nov 2016
L5: Journeyman
> bubble2 574 Posts
142 Reputation
boden399
07-01-2024 at 08:39 AM.
07-01-2024 at 08:39 AM.
Edit. Correction made.
Reply
Last edited by boden399 July 1, 2024 at 08:52 AM.
Joined Jul 2010
L6: Expert
> bubble2 1,240 Posts
78 Reputation
lenser
07-02-2024 at 02:44 PM.
07-02-2024 at 02:44 PM.
Forbright bank is offering 5.3%
Reply
Joined Feb 2009
L5: Journeyman
> bubble2 511 Posts
72 Reputation
rphmann
07-02-2024 at 04:38 PM.
07-02-2024 at 04:38 PM.
Had to do two high dollar transfers to get the deal. I think it's tied to a percentage of the amount in the account. did one after another just cancelled and bumped t up 20K and got the deal. Left it for now. As it would have went to My Banking Direct. So far both of these are ok for me for cash.
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Joined Nov 2018
L3: Novice
> bubble2 181 Posts
142 Reputation
126466
07-02-2024 at 05:11 PM.
07-02-2024 at 05:11 PM.
mybankingdirect offering 5.55% savings CIT has not been anywhere near the highest rates for a great while.
source: bankrate.com
Reply
Joined Jan 2006
L6: Expert
> bubble2 1,878 Posts
407 Reputation
whodiini
07-02-2024 at 05:56 PM.
07-02-2024 at 05:56 PM.
Quote from Bobloadmire View quoted comment :
Anyone paying off credit cards using this savings account number / routing?
Yes. Most people on this thread completely miss the point of CIT. It is NOT the highest paying savings rate. What CIT savings is good for is as a replacement for a traditional checking account that you dont write checks to pay bills, but make ACH transfers to pay bills. No other (effective) checking account that has unlimited ACH transfers pays anywhere close to 5%. For example, if you keep on average $10k in your checking account that pays nothing and instead use CIT savings, you would earn an extra $500 a year. THAT is the utility of CIT. That is a SD.
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Joined Mar 2004
L6: Expert
> bubble2 1,652 Posts
202 Reputation
Bobloadmire
07-02-2024 at 06:07 PM.
07-02-2024 at 06:07 PM.
Quote from whodiini View quoted comment :
Yes. Most people on this thread completely miss the point of CIT. It is NOT the highest paying savings rate. What CIT savings is good for is as a replacement for a traditional checking account that you dont write checks to pay bills, but make ACH transfers to pay bills. No other (effective) checking account that has unlimited ACH transfers pays anywhere close to 5%. For example, if you keep on average $10k in your checking account that pays nothing and instead use CIT savings, you would earn an extra $500 a year. THAT is the utility of CIT. That is a SD.

That's what I was looking for thanks
Reply
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