CIT Bank Platinum Savings review

CIT Bank Platinum Savings has a two-tier rate that makes it either very good or poor depending on your balance. As of July 1, 2026, it pays 3.75% APY on balances of $5,000 or more and 0.25% APY on balances of $0.01 to $4,999.99, with interest paid on the entire balance at the rate for that day's tier. That 3.75% is above Marcus, Ally and Capital One, but anyone holding less than $5,000 earns a fraction of what EverBank or Marcus pays. The account has no opening or monthly service fees, needs $100 to open, and can be funded by electronic transfer, mailed check or wire. CIT supports Zelle for transfers and offers a mobile app. CIT Bank is a division of First Citizens Bank. Because the rate dates on the page are older than most competitors' and the low-balance tier is so far below the rest of this list, CIT ranks last overall even though its top tier is competitive.

Who it is for

Savers who keep at least $5,000 in the account

Price

$0 monthly service fees, $100 to open; 3.75% APY on $5,000 or more, 0.25% below, as of July 1, 2026.

No account opening or monthly service fees, so you can keep what you earn.
Quoted from the vendor pricing page on November 12, 2026.

Key features

• 3.75% APY on balances of $5,000 or more as of July 1, 2026
• 0.25% APY on balances under $5,000
• $100 minimum to open
• No account opening or monthly service fees
• Zelle transfers and funding by electronic transfer, check or wire

Strengths and weaknesses

• Strength: At $5,000 or more, the 3.75% APY beats Marcus, Ally and Capital One
• Strength: No opening or monthly service fees
• Strength: Zelle support for quick transfers
• Weakness: Balances under $5,000 earn only 0.25% APY
• Weakness: $100 minimum to open, unlike most accounts here
• Weakness: Rates shown are dated July 1, 2026, older than other banks' pages

Key facts

• APY at $5,000+: 3.75%
• APY under $5,000: 0.25%
• Minimum to open: $100
• Monthly fee: $0

Where it ranks

CIT Bank Platinum Savings is No. 9 in our Best High Yield Savings Accounts verdict.