Last Updated: 07/07/2025
SuperMoney User Recommendation Score +82
Strongly recommended22 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
0.25% - 4.00%(Verified 06/12/2025)
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Minimum Opening Deposit
$100
Minimum Balance to Earn APY
N/A
Number of Reviews
CIT Bank Platinum Savings Review
CIT Bank Platinum Savings is offered by CIT Bank, a bank founded in 1908 and based in Raleigh, NC. CIT Bank Platinum Savings are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4.00%*, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $100 minimum opening deposit. This is a typical minimum initial deposit.
CIT Bank Platinum Savings Pros & Cons
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CIT Bank Platinum Savings FAQ
Are savings accounts from CIT Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does CIT Bank offer a signup bonus?
CIT Bank Platinum Savings doesn't offer a signup bonus.
What is the minimum initial deposit for CIT Bank Platinum Savings?
The minimum deposit to open a CIT Bank Platinum Savings is $100.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY* does CIT Bank Platinum Savings offer?
CIT Bank Platinum Savings offers a variable APY* starting at 0.25% and ranging up to 4.00% (APY stands for annual percentage yield, rates may change).
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 June, 11 2025: 0.25% APY on balances of $0.01 to $4,999.99; 4.00% 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.
What fees does CIT Bank Platinum Savings charge?
CIT Bank Platinum Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $10 fee.
- An overdraft on your account will trigger a $30 fee per item.
Does CIT Bank Platinum Savings charge overdraft fees?
Yes, CIT Bank Platinum Savings charges a $30 overdraft fee. CIT Bank Platinum Savings offers overdraft protection at a cost of $5 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does CIT Bank Platinum Savings offer?
This savings account includes the following features:
- Fraud monitoring - CIT Bank Platinum Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - CIT Bank Platinum Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
Can you set up a direct deposit to CIT Bank Platinum Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for CIT Bank Platinum Savings?
The customer support email for CIT Bank Platinum Savings is custserv@cit.com.
How do people rate the customer service and user experience of CIT Bank Platinum Savings?
Overall, CIT Bank Platinum Savings is strongly recommended based on community reviews that rate customer service and user experience.
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Hours of Operation
Sunday
Closed
Monday
7:00AM - 7:00PM
Tuesday
7:00AM - 7:00PM
Wednesday
7:00AM - 7:00PM
Thursday
7:00AM - 7:00PM
Friday
7:00AM - 7:00PM
Saturday
Closed