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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+161 Deal Score
423,933 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
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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
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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.

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Featured Comments

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.
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You have more issues than just missing out on $10k!
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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 Aug 2018
L6: Expert
> bubble2 1,047 Posts
70 Reputation
Kraken09
09-13-2024 at 04:37 AM.
09-13-2024 at 04:37 AM.
Quote from bobthq :
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

I'll have to try this. I noticed my rate just changed to 4,736 and was ready to move my money to a CD before the Fed meeting. Did you get the offer moving money through the app or through the website?

I'll stay if they give me a 5% offer for a year.
Reply
Joined Jun 2009
Meth Addict
> bubble2 880 Posts
382 Reputation
will403536
09-13-2024 at 09:44 AM.
09-13-2024 at 09:44 AM.
Quote from bobthq :
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
Except it doesn't actually stay at X % for 12 months. The terms say they can lower it anytime they want, and they do. That's exactly what happened to the previous "5.10% for 12 months" offer, it got lowered in less than 2 months. It's inevitable banks must lower rates with the market at times, just don't be fooled by their offer that seems to be giving us 12 months at a higher rate.
Reply
Joined Nov 2009
L2: Beginner
> bubble2 99 Posts
34 Reputation
EdLuva72
09-15-2024 at 10:42 AM.
09-15-2024 at 10:42 AM.
Quote from bobthq :
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

To add onto will403536's reply, I also took advantage of the 5.10% APY deal last month. The 12-month deal wasn't to keep the 5.10% APR rate for 12 months. It was for the difference between the two rates (your original rate and the higher special-offer rate) should they increase or decrease. That's why your APY is at 4.95% instead of their current advertised 4.85% APY. You will keep the higher difference for 12 months.
Reply
Last edited by EdLuva72 September 15, 2024 at 12:11 PM.
Joined Dec 2014
L5: Journeyman
> bubble2 515 Posts
402 Reputation
duggy91
09-20-2024 at 06:35 AM.
09-20-2024 at 06:35 AM.
Quote from EdLuva72 :
To add onto will403536's reply, I also took advantage of the 5.10% APY deal last month. The 12-month deal wasn't to keep the 5.10% APR rate for 12 months. It was for the difference between the two rates (your original rate and the higher special-offer rate) should they increase or decrease. That's why your APY is at 4.95% instead of their current advertised 4.85% APY. You will keep the higher difference for 12 months.
Actually all you get is a .1% boost for 12 months hence the 4.95% instead of 4.85% so if the savings drops to 4% in the savings you will get 4.1%. it's .1 bonus for 12 months on whatever the current rate is.
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Joined Dec 2010
L6: Expert
> bubble2 1,727 Posts
186 Reputation
blackbeasst
10-01-2024 at 04:12 AM.
10-01-2024 at 04:12 AM.
So last month I accepted the 5.10 for twelve months and lo and behold I check my statement this morning and noticed my rates are 4.689/4.95. Anyone else have this issue?
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Joined Jun 2005
L2: Beginner
> bubble2 86 Posts
22 Reputation
maxlaser5
10-01-2024 at 07:51 AM.
10-01-2024 at 07:51 AM.
Quote from blackbeasst :
So last month I accepted the 5.10 for twelve months and lo and behold I check my statement this morning and noticed my rates are 4.689/4.95. Anyone else have this issue?
Same here.
Reply
Joined Dec 2009
L9: Master
> bubble2 4,917 Posts
506 Reputation
rdcrds
10-01-2024 at 09:06 AM.
10-01-2024 at 09:06 AM.
I still can't see why they closed my account lol this was before i even funded it. I opened a UFB which is a little higher rate and does about the same but i never have had a bank or CC ever close my account so i am waiting on the letter as to why i guess they do not want my money
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