CIT Bank
CIT Bank Platinum Savings
By Alex Compton · Last verified
Tiered savings: the $5,000 balance threshold determines the rate on all your money
Insurance: CIT is a division of First Citizens Bank. Deposits combine with First-Citizens Bank & Trust and its other divisions for the $250,000 limit per depositor, per ownership category.
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-11-02 | 3.75% variable APY on $5,000 or more; 0.25% below $5,000 | $0 | $100 | CIT Platinum Savings product page, checked November 2, 2026 →Freshness-rotation reconfirmation: CIT's product page still lists 3.75% at $5,000+ and 0.25% below. No change to standard tiers; boost-promotion details remain subject to the page's own terms. |
| 2026-10-23 | 3.75% variable APY on $5,000 or more; 0.25% below $5,000 | $0 | $100 | CIT Platinum Savings product page →Verified standard tiers using the current official product URL; corrected promotion timing and removed unsupported fee and transfer claims from the review. Observation date, not a bank rate-change date. |
| 2026-10-05 | 3.75% on balances of $5,000+ (as of October 2026); roughly 0.25% below $5,000 | $0 | $100 | Archive record · no attached snapshotLegacy snapshot without event-level evidence |
Primary-source verification log
Append-only evidence ledger- changed
Verified standard account terms and separate BOOST50 promotion; corrected enrollment deadline versus six-month duration, eligibility and insurance scope; removed unsupported blanket fee, transfer-speed and comparative claims.
Fields: apy, fdic, features, atm, bonusSlug, pros, cons, ourTake, sections, faqs, termHistory, url, lastVerified
CIT Platinum Savings official product page →
Features
- ▸The entire balance earns the APY for its end-of-day tier
- ▸$100 to open; no required ongoing minimum balance
- ▸$0 monthly maintenance fee and no opening or closing fee
- ▸Interest compounds daily and is credited monthly
- ▸Online and mobile account management; no branch access
- ▸Eligible BOOST50 enrollment adds 0.50 percentage point for six months; separate promotion conditions apply
Pros
- +No monthly maintenance fee
- +Higher standard tier applies to the entire eligible balance
- +Existing customers may qualify for the separate BOOST50 promotion
Cons
- −Dropping below $5,000 changes the rate on the entire balance
- −Standard APYs can change, including during a promotion
- −No branch access
Our Take
Plan around the lowest balance you expect after withdrawals. Keeping only the threshold amount leaves no cushion: a $100 withdrawal from $5,000 moves the remaining $4,900 into the lower tier. Compare the standard rate when choosing where to keep ongoing savings, and evaluate any temporary promotion separately.
Best for: Online savers who can keep a buffer above the $5,000 threshold
Open at CIT Bank →Last verified 2026-11-02
Opening minimum versus the higher-rate threshold
The $100 opening deposit does not unlock the higher APY. CIT uses the end-of-day balance to choose the rate for the whole account, rather than paying the higher rate only on dollars above $5,000. The checked page labels its rates accurate as of July 1, 2026; November 2 is our verification date, not a new rate-change date.
CIT Platinum Savings terms →BOOST50: enrollment deadline and six-month duration
The advertised boosted APYs are 4.25% at $5,000 or more and 0.75% below that threshold. BOOST50 adds 0.50 percentage point to the standard rate for six months after qualifying opening or enrollment. December 15, 2026 is the enrollment deadline, not a common end date for every customer; CIT may end enrollment early. If standard rates change, the boosted rate changes too.
CIT BOOST50 promotion terms →Check eligibility before counting on the boost
New customers must enter BOOST50 when opening. Eligible existing customers enroll through the promotion page, using the code. There is one offer per account and primary customer; the account must remain open. Customers already earning above-standard APY or participating in a cash bonus in the prior six months are excluded, as are custodial and trust accounts. Offers cannot be combined. The boost applies only up to $9,999,999; amounts above earn the standard rate.
CIT promotion eligibility and exclusions →Frequently asked questions
Does CIT Platinum Savings require a $5,000 minimum deposit?
Opening requires $100. The separate $5,000 threshold determines eligibility for the higher standard APY; there is no required ongoing minimum balance.
Is the BOOST50 rate fixed for six months?
No. The promotion adds 0.50 percentage point to a variable standard APY. The six-month benefit starts at qualifying account opening or enrollment, subject to the promotion terms.
Does December 15 end an enrolled customer’s six-month boost?
No. December 15, 2026 is the advertised enrollment deadline. Eligible customers enrolled before the offer ends receive their own six-month boost period.
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