CIT Bank Platinum Savings Review: Best Savings Account?
By Ben Carter
4.6
Consumers Best Verdict: CIT Bank (a division of First Citizens Bank) Highlights
In our cit bank platinum savings review, we found a clean digital experience, no monthly maintenance fees, and FDIC insurance through First Citizens Bank. Transfers are straightforward, automation is easy, and support is solid for an online bank. The big swing factor is the balance requirement for the best rate—fall below it and the base rate kicks in. If that fits your style, CIT Bank (a division of First Citizens Bank) is a strong contender.
Look, if you’re chasing a high-yield home for your cash, CIT Bank’s Platinum Savings still delivers in 2025—especially when you keep a $5,000+ daily balance to nab the top tier. It’s lean, no-frills, and genuinely competitive. The tiering is the catch, sure, but when you meet it, the value stacks up. My take: for steady savers who don’t mind parking funds, it just works.
In-Depth Look: CIT Bank (a division of First Citizens Bank) Features & Considerations
Core Features & Consumer Benefits
Here’s what stood out after living with it—little things, daily habits, and a few pleasant surprises.
Competitive, variable APY with a clear target
Keep a $5,000+ daily balance to access the top tier; otherwise a lower base rate applies.
Low friction setup
No monthly maintenance fees and a $100 minimum to open make it easy to get started.
FDIC insurance via First Citizens Bank
Coverage up to $250,000 per depositor, per ownership category helps you sleep at night.
Modern, reliable digital banking
Clean web dashboard, a capable mobile app, mobile check deposit, and quick external account linking.
Easy-to-run savings system
Open multiple savings accounts for different goals, nickname them, and set recurring transfers so saving happens on autopilot.
Important Considerations & Potential Downsides
- Tiered earnings
The best rate typically requires a $5,000+ daily balance; dip below and your interest may drop to the base tier.
- Transfers over tellers
No ATM card for savings and no cash deposits; ACH transfers usually take 1–3 business days.
- Variable rates
APY can change at any time—great when rates rise, not as fun when they fall.
- Branch-light model
CIT is online-first, so if you want in-person service, this isn’t that kind of account.
Who Is the CIT Bank (a division of First Citizens Bank) Best For?
Rate seekers with steady balances
You’re comfortable keeping $5,000+ parked to capture the top tier and let interest do the heavy lifting.
Digital-first savers
You prefer a clean app, simple transfers, and zero branch errands—just tap, schedule, done.
Emergency fund builders
FDIC insurance and no monthly fees make it a calm, reliable place to store a rainy-day fund.
Goal planners
You like separating savings goals with multiple accounts and using automations to stay consistent.
First Citizens loyalists
You value the stability and reputation behind CIT Bank’s parent, First Citizens Bank.
Who Might Want to Explore Other Options?
- Savers under $5,000
If you’ll sit below the tier threshold, consider accounts that offer their best rate with no balance requirements.
- Cash and branch fans
If you rely on in-person service or cash deposits, a branch-based bank will feel more natural.
- One-card, all-in-one users
If you want a debit card tied to savings or heavy ATM use, a checking-savings bundle may fit better.
- Promotional rate chasers
If you hop banks for teaser APYs, you may find flashier short-term promos elsewhere.
Frequently Asked Questions
Make Your Savings Grow Faster.
UFB Direct, a division of Axos Bank, offers a high-yield savings account designed for individuals looking to maximize their interest earnings with minimal fees. It's an online-only option focused on providing competitive rates and a straightforward banking experience.
