CIT Bank
CIT Bank Platinum Savings
A top-tier rate with one catch: keep $5,000 in the account or earn almost nothing
Insurance: FDIC insured up to $250,000 through CIT Bank, a division of First-Citizens Bank & Trust
Features
- ▸Headline APY requires a $5,000+ balance — the defining feature of this account
- ▸APY Boost promo (through June 30, 2026) pays 4.10% for 6 months with code CITBoost
- ▸Balances under $5,000 drop to a token rate around 0.25%
- ▸No monthly maintenance fees, no transaction fees
- ▸$100 minimum to open
- ▸Part of First Citizens Bank, a top-20 US bank by assets
Pros
- +3.75% standard rate beats every household-name HYSA
- +Boost promos for new and existing customers are unusually generous
- +Big-bank backing via First Citizens
Cons
- −The $5,000 hurdle is a cliff, not a tier — dip below and the rate collapses
- −CIT has a history of launching new account names at better rates while old ones decay
- −ACH transfers are slower than Marcus or Ally in user reports
Our Take
Platinum Savings pays rate-leader money for big-bank risk, which is a great trade if and only if you will always keep $5,000 parked. The balance cliff makes it wrong for small or fluctuating savings. CIT's habit of rotating hot new account names means you should set a reminder to re-check your rate twice a year rather than assume loyalty is rewarded.
Best for: Savers with $5k+ who will park it and periodically audit the rate
Open at CIT Bank →Last verified 2026-06-11
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