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CIT Bank Platinum Savings Account

About CIT Bank High-Yield Savings

The CIT Bank Platinum Savings Account from CIT Bank is one of the top-rated High-Yield Savings options evaluated on MoneyCompared, earning an overall product score of 9.5/10. Ultra-high-yield savings account delivering market-leading APY on balances of $5,000 or more with zero monthly service fees.

Key highlights include 4.55% APY on balances of $5,000+ (0.25% under $5k), a fee structure of $0 Monthly Service Fee, and Among the Highest APYs from a Top-20 U.S. Bank Division. Accounts are backed by FDIC Insured up to $250,000 (First Citizens Bank) and supported by CIT Bank's 4.8 / 5.0-rated digital banking experience.

Features

Annual Fee	$0 Monthly Service Fee
Regular APR / Rate	4.55% APY on balances of $5,000+ (0.25% under $5k)
Intro Offer / Welcome Bonus	Among the Highest APYs from a Top-20 U.S. Bank Division
Savings APY / AER	4.55% APY ($5,000+ Balance) Compounded Daily
Minimum Deposit	$100 Minimum to Open ($5,000 for 4.55% APY)
Foreign Transaction Fee	N/A (Savings Account)
Deposit Insurance	FDIC Insured up to $250,000 (First Citizens Bank)
Mobile App Rating	4.8 / 5.0
Overall Rating	9.5 / 10

About Product

Annual / Monthly Fee: $0 Monthly Service Fee
APR / APY Rate: 4.55% APY on balances of $5,000+ (0.25% under $5k)
Intro Offer / Bonus: Among the Highest APYs from a Top-20 U.S. Bank Division
Key Benefits: 4.55% APY ($5,000+ Balance) Compounded Daily
Minimum Requirement: $100 Minimum to Open ($5,000 for 4.55% APY)
Foreign Transaction Fee: N/A (Savings Account)
Protection: FDIC Insured up to $250,000 (First Citizens Bank)

Pros

Rate / APR / APY: 4.55% APY on balances of $5,000+ (0.25% under $5k)
Fee Structure: $0 Monthly Service Fee
Welcome Offer / Benefit: Among the Highest APYs from a Top-20 U.S. Bank Division
Rewards & Highlights: 4.55% APY ($5,000+ Balance) Compounded Daily

Cons