CIT Bank Platinum Savings Accounts
If you have cash on hand that you won't need right away, instead of leaving it in a regular checking account, consider moving it into a high-yield savings account so your idle funds can earn more interest.
CIT Bank's Platinum Savings is an online high-yield savings account with no monthly maintenance fees and a $100 minimum to open. For those who can maintain a balance of $5,000 or more, a more attractive APY is currently available.Click to see details
- Up to 4.10% APY, no monthly fees, $100 to open
CIT Platinum Savings currently offers a standard APY of 3.75%, available to accounts with a balance of $5,000 or more.
If your balance falls below $5,000, the current APY is 0.25%, so this account is best suited for those with a stable savings balance who can maintain $5,000+ over the long term.
CIT Bank is also currently offering a limited-time APY Boost, where eligible accounts can earn an additional 0.35% APY, bringing the APY on balances of $5,000+ up to 4.10% for 6 months. Eligibility and terms may change, so be sure to review the latest official terms before applying.
- Only $100 to open, no monthly fees
Platinum Savings requires a minimum opening deposit of $100, with no monthly maintenance or account opening fees.
Note that $100 is just the minimum to open — it doesn't qualify you for the higher APY tier. To earn the 3.75% standard APY, you'll need to maintain a balance of at least $5,000.
- A savings account designed for money you're "parking"
Platinum Savings is a fully online savings account that can be managed via ACH transfers, external bank transfers, and mobile banking.
The account doesn't come with an ATM card or debit card, making it better suited for storing emergency funds, travel savings, down payments, or other cash you don't need for daily spending — rather than as a day-to-day spending account.
- Online banking model — convenient but no physical branches
CIT Bank is the online banking division of First-Citizens Bank & Trust Company, Member FDIC. The account is managed primarily through the website and mobile app, with no traditional brick-and-mortar branches.
If you already have $5,000+ in idle funds and are looking for a high-yield savings account with no monthly fees and simple management, CIT Platinum Savings is worth considering.
Note: This article is for general informational purposes only and does not constitute banking, tax, legal, investment, or financial advice. CIT Bank is a division of First-Citizens Bank & Trust Company, Member FDIC. APY is a variable rate and may change at any time; the APY Boost rate, eligibility, duration, and other terms are also subject to change. Please refer to the latest APY and account terms published on CIT Bank's official website before applying.
