The CIT Bank Platinum Savings account is a very competitive online savings account option for those with balances of $5,000 or more. See the current rate details below.
CIT Bank Platinum Savings 4.70% APY Offer
How To Earn The Rate:
- Get the current rate of 4.70% APY with a minimum balance of $5,000. Balances of less than $5,000 will get a 0.25% rate. See site for details.
- Minimum opening deposit of $100, however, must maintain a $5,000 daily balance to receive top-tier APY.
- Offer is available online, nationwide
- Member FDIC
- Update 9/25/2024: The APY rate decreased to 4.70% APY.
- Update 9/8/2024: The APY rate is now 4.85% APY.
- Update 5/3/2024: The APY rate has changed to 5.00% APY.
- Update 10/17/2023: Their market-leading 5.05% APY is still available.
- Update 7/27/2023: APY rate has increased again to 5.05% APY.
- Update 6//16/2023: The APY rate has increased again to 4.95% APY.
- Update 5/9/2023: The APY rate increased from 4.75% to 4.85%.
- Update 3/31/2023: The APY rate for the CIT Bank Platinum Savings increased from 4.40% to 4.75% for balances of $5,000 or more. For balances below that threshold, the APY rate remains at 0.25%.
CIT Bank is a popular option for online banking, especially if you’re seeking interest-bearing online checking and savings accounts. Not only are they perfect for daily use, but the accounts also earn a competitive rate. Plus, they’re easy to open with low opening deposit requirements.
Offer details are below.
CIT Bank Platinum Savings Earns 4.70% APY (Nationwide)
The Platinum Savings account offers one of the highest APY rates in the market. Open an account to earn this top rate.
- Current rate: 4.70% APY – minimum balance of $5K required. See Site for Details.
- 0.25% with balances of less than $5,000.
- Minimum opening deposit of $100, however, must maintain a $5,000 daily balance to receive top-tier APY.
- Offer is available online, nationwide
- Access your accounts 24/7 online and on the mobile app.
- Deposit checks remotely and make transfers easily with the CIT Bank mobile app.
- There are no account opening or monthly service fees for savings accounts.
- Member FDIC
>> OPEN A PLATINUM SAVINGS ACCOUNT WITH CIT BANK FOR THE RATE
READ MORE: SEE ALL THE BEST OFFERS FROM CIT BANK HERE
Account Features
- Get a competitive rate on your Platinum Savings account, 12x the National Average.*
- With the CIT Bank mobile app, deposit checks from your mobile device and make transfers easily.
- There are no account opening or monthly service fees for savings accounts.
*Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of May 3, 2024.
How To Open An Account
- Click the link above to open an account online.
- Enter your info. You’ll need to provide information such as your address, phone, email and social security number.
- Fund your account. Minimum of $100 to open your account. You can transfer funds with electronic transfer, mail in check, or wire.
- You’ll receive a confirmation email once you’re done.
READ MORE: FOR BALANCES LESS THAN $5,000 CONSIDER THE CIT SAVINGS CONNECT ACCOUNT
Why Choose A Savings Account From CIT Bank?
High-yield savings accounts are a great way to make your money work for you, and CIT Bank offers some of the best options out there.
These accounts typically offer higher interest rates than traditional savings accounts, which means your money will grow faster.
CIT Bank’s high-yield savings accounts also come with no monthly maintenance fees and no minimum balance requirement, so you can start saving with whatever amount you have.
READ MORE: SEE THE NATION’S BEST ONLINE SAVINGS AND MONEY MARKET RATES
How Does CIT Bank Handle Online Security?
Managing your finances can be a hassle, but CIT Bank makes it easy with their online banking platform. You can access your account from anywhere with an internet connection, and you can do everything from checking your balance to transferring money.
The platform is also secure, so you can be sure your personal and financial information is protected.
They take several measures to protect their customers’ personal and financial information. They use advanced encryption technology to protect your account information, and they also have multiple layers of security in place to detect and prevent fraud.
Additionally, CIT Bank’s system is regularly audited to ensure compliance with the highest industry standards.
READ MORE: WELCOME OFFERS FROM CHASE AND BMO.
How Good Is Mobile Banking With CIT?
CIT Bank’s mobile app is a great way to stay on top of your finances on the go.
The app is available for both iOS and Android devices, and it’s loaded with features that make managing your money a breeze. You can check your account balance, transfer money, deposit checks, and even pay bills (if you also use their checking account) right from your phone.
You can set up push notifications in the app, so you’ll always be aware of any important account activity.
READ MORE: ALSO EARN GREAT RATES WITH CIT BANK’S CD ACCOUNTS
Bottom Line
If you’re looking for a high-yield savings account, the Platinum Savings account from CIT Bank is worth considering. For balances of $5,000 or more, it offers one of the highest rates in the market. The account is available nationwide and can be opened with a minimum deposit of $100, and there are no account opening or monthly service fees.
One thing to keep in mind is that, like many other online banks, CIT Bank doesn’t have physical branches. This means you won’t be able to walk into a bank and speak with a teller or banker in person. However, they have a great customer service team available 7 days a week that can help you with any questions or concerns you may have.
All in all, if you’re looking for a high-yield savings account and are comfortable with online banking, this account from CIT Bank may be a good fit.
>> OPEN A PLATINUM SAVINGS ACCOUNT WITH CIT BANK FOR THE RATE
More from CIT Bank:
- Best CIT Bank Bonuses, Promotions November 2024
- CIT Bank Money Market Account Earns 1.55% APY (Nationwide)
- Earn Up To 3.50% APY: CIT Bank’s Best Certificate of Deposit Account Offers (Available Nationwide)
- CIT Bank Savings Connect Earns 4.35% APY (Available Nationwide)
- CIT Bank eChecking Account – Free Online & Mobile Banking
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
By Tony Jay, a seasoned finance blogger and executive editor, who boasts over two decades of experience in the banking sector, with a specialization in online banking and savings strategies. Tony holds a doctoral degree from Tulane University. Edited by John Huynh, who brings more than two decades of experience in finance and investing, including as a senior finance and operations manager at a renowned research institute and degrees in economics and international studies from UC Irvine.
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