CIT Bank Platinum Savings Review

Abstract

CIT Bank recently launched a new savings account called: Platinum Savings. This account is very similar to the old Savings Builder account previously had.The CIT Platinum Savings account is a two-tiered savings account. Let's dive in and learn more about how CIT Platinum Savings account works. The savings account pays up to 4.40% APY on your money. Why We Like The ProductIn the current savings and banking environment, CIT Bank is a proven leader when it comes to online savings account. As of March 2023, the FDIC reports that the average interest rate on savings accounts nationwide is just 0.35% APY.This account is well above the national average, and it consistently makes our list of the best savings accounts as well. Pros Earn a fantastic interest rate on balances of $5,000 or more No monthly fees FDIC Insured Cons $5,000 minimum to earn the highest rate The lower rate is sub-par Open An Account.