CIT Bank high yield Platinum Savings account

Earn up to
3.75
%

Grow your savings faster with a tiered high-yield savings account designed for flexibility and security. CIT Bank is a division of First Citizens Bank, which has been serving the financial needs of clients and communities for over 125 years.

FDIC insured • $0 monthly fees • $100 min deposit

Open an account

Platinum Savings account: At a glance

Platinum Savings account overview

CIT Bank Platinum Savings is an online high-yield savings account (HYSA) with a two-tiered annual percentage yield (APY) offering higher rates than traditional savings accounts.

How interest earnings work

Your entire Platinum Savings account balance earns the rate tied to your tier. Your tier is determined by the balance in your account.

  • If your balance is $5,000 or more, your entire balance earns the higher rate.

  • If your balance is below $5,000, your entire balance earns the lower rate.

  • APYs are variable and may change at any time.

Platinum Savings APY tiersScroll to disclosure: 1

Account balance APY
$5,000 or more 3.75%
Less than $5,000 0.25%

Benefits of Platinum Savings
Competitive APY

Earn 3.75% APYScroll to disclosure: 1 on balances of $5,000 or more, about 9x the national average.Scroll to disclosure: 2
No monthly fees

CIT Bank does not charge fees for opening or maintaining a Platinum Savings account.
Digital banking

Deposit checks, transfer funds, and track your savings anytime, anywhere.
FDIC insured

Your deposits are protected up to $250,000 per depositor, per category.

Who Platinum Savings is best for
Best for people who:

  • Can maintain a balance of $5,000 or more

  • Are comfortable using online and mobile banking

  • Want a safe place to hold and grow cash reserves
May not be ideal for:

  • Typically keep balances below $5,000

  • Prefer in-person banking at a branch

  • Want a flat interest rate regardless of balance

Why you can trust CIT Bank

CIT Bank is a division of First Citizens Bank, a top-20 financial institution which has served the financial needs of clients and communities for more than 125 years. When you open a digital banking account with CIT Bank, you get the best of both worlds: the competitive rates and digital convenience of an online bank, backed by the stability of a trusted institution.

  • Deposits are FDIC insured up to $250,000 per depositor, per ownership category.

  • Modern security and fraud prevention keep your account secure.

  • U.S.-based customer service reachable via secure messaging or phone call.

How to open a Platinum Savings account

Estimated time: 5 minutes

1

Enter your information

Securely submit your address, phone, email and Social Security number or ITIN.
2

Fund your account

Deposit at least $100 by electronic transfer (ACH), wire transfer or by mailing us a check.
3

Start earning interest

We’ll send a confirmation email once your account is open, and you’ll start earning interest.
Get started

Frequently asked questions

Money's 2024 Best Savings Account: CIT Bank Platinum Savings

Money named CIT Bank Platinum Savings the 2024 Best Savings Account for $5,000 and up. It was noted for its competitive APY—one of the highest on the list—and no monthly fees.

View awards

Start earning more on your savings today

Open a Platinum Savings account online in about five minutes and start earning 3.75% APYScroll to disclosure: 1 on balances of $5,000 or more.

FDIC insured • No monthly maintenance fees • $100 minimum deposit

Open an account