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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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View AllCommunity 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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On second thought, I think this is for saving account. IMO, Not worth it as they may be offering 5% today, but tomorrow or a month from now could be reduced to a really low non-competitive number.
On second thought, I think this is for saving account. IMO, Not worth it as they may be offering 5% today, but tomorrow or a month from now could be reduced to a really low non-competitive number.
You just mentioned 1/3/5. So your term rate locks for that period…
What was the sign up bonus?
Full 10k
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Sorry, I just checked and it's not a CD with fixed terms. It's a savings account.,,meaning they could lure people today promising 5% interest, however could change or be lower few months down the road. Whereas in a CD, you lock in the rates with that interest rate for the entire term
Note: However, under Account Details, mine still shows 4.975% APR (5.11% APY). Will probably drop by tomorrow.
In July they raised the rate to 5.10% and then recently dropped it to the 4.85% or whatever.
Now if you try to transfer a significant amount of money out, it puts you in an infinite loop of them offering you a slightly higher amount, 4.987% or whatever. The only way to get money out is to decline their offer. Even then it doesn't work properly and requires multiple SMS/call authentications.
They know that every little step of friction they add makes people give up and keep their money with them. This is shady as hell.
In July they raised the rate to 5.10% and then recently dropped it to the 4.85% or whatever.
Now if you try to transfer a significant amount of money out, it puts you in an infinite loop of them offering you a slightly higher amount, 4.987% or whatever. The only way to get money out is to decline their offer. Even then it doesn't work properly and requires multiple SMS/call authentications.
They know that every little step of friction they add makes people give up and keep their money with them. This is shady as hell.
true.
But so far had 0 problems with using money through their Visa;
transferring out partially;
puling out ( transfer using other banks, not CiT)
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In July they raised the rate to 5.10% and then recently dropped it to the 4.85% or whatever.
Now if you try to transfer a significant amount of money out, it puts you in an infinite loop of them offering you a slightly higher amount, 4.987% or whatever. The only way to get money out is to decline their offer. Even then it doesn't work properly and requires multiple SMS/call authentications.
They know that every little step of friction they add makes people give up and keep their money with them. This is shady as hell.
I just noticed they lowered my interest rate to 4.95%, I try to withdraw a significant amount too and they offered me a 5% APY for 12 months and of course I accepted it. It's pretty cool they do that instead of getting stuck with a CD for 12 months