Act Fast: Get up to a $300 Bonus With This High-Yield Savings Account
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The CIT Platinum Savings account is offering a limited-time cash bonus for new customers:
- $225 when you deposit at least $25,000
- $300 when you deposit at least $50,000
Should you open this high-yield savings account before the bonus disappears? Read on to learn more about CIT Platinum Savings and see if it's worth it.
The bonus details
To earn a cash bonus, you must:
- Enter promo code PS2025 during account creation
- Deposit $25,000 or more within 30 days of account opening
- Keep the account open until the bonus is paid, which should happen within 90 days of account opening
Unlike some bank bonuses, this one does not require you to keep a certain amount of money in the account for months.
How good is the CIT Platinum Savings account?
CIT Platinum Savings is one of the best high-yield savings accounts (HYSAs) on the market -- if you can maintain a balance of $5,000 or more.
Here's why this HYSA stands out:
- 3.85% APY on balances of $5,000 or more (0.25% APY on lower balances)
- No other requirements (like regular deposits) to earn the top APY
- No monthly fees
- Fast, free (to a point) withdrawals. With a linked CIT eChecking account, you can make instant transfers between checking and savings, plus get up to $30 per month in ATM fee rebates.
Very few banks offer all of these standout benefits.
On CIT's Secure Website.
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CIT Platinum Savings
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- Competitive APY
- No account opening or maintenance fees
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- Interest compounds daily so your money can grow a bit faster
- Balance requirement for maximum APY
- No branch access; online only
CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits). And right now, you can also score a cash bonus of up to $300 when you open a new account with promo code PS2025 and fund it within 30 days. Terms apply.
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
For complete list of account details and fees, see our Personal Account disclosures.
How the bonus boosts your first-year return
Let's see how much the bonus would juice your earnings if you left your deposit in the account for a full year.
| Deposit | Cash Bonus | First-Year Earnings (interest + Bonus) | Effective First-Year APY (Est.) |
|---|---|---|---|
| $25,000 | $225 | $1,187 | 4.75% |
| $50,000 | $300 | $2,225 | 4.45% |
A yield of 4.45% to 4.75% is almost unheard of today. So even if the bonus looks small compared to the deposit, this is really an excellent deal.
How CIT stacks up
- Versus big banks: Most large banks with physical branches still pay near-zero on savings. The CIT Platinum Savings account is a clear upgrade over these.
- Versus other online banks: CIT's top APY is similar to other online banks'. The bonus puts it above almost any other bank for year one. After that, the ongoing APY matters most.
- Versus CDs: Some CDs pay a higher APY, but most come with early-withdrawal penalties. If you want a fixed rate, and you can lock up your funds for months or years, then a CD (or a CD ladder) might win. For easy access to your money and high near-term returns, CIT Platinum Savings is the best bet.
Want to sign up? Here's what to do now
- Apply and enter code PS2025 during account opening.
- Complete deposits within 30 days to qualify.
- Set a rate check reminder for about a year from now. When the time comes, compare your APY against top HYSAs.
Also keep these important details in mind:
- Timing: The bonus is paid within 60 days after the 30-day funding period. The account must be open when it posts.
- Taxes: Interest and bonuses are taxable.
Ready to get a cash bonus and a top-tier APY? Click here to read our full CIT Platinum Savings review and open an account today.
Our Research Expert
James McClenathen is a full-time Managing Editor and Personal Finance Writer at Motley Fool Money, overseeing the production and quality of editorial content while also writing about credit cards, investing, and everyday money management. He has worked at The Motley Fool since 2012 and brings extensive experience as an editor, reporter, and finance expert. A graduate of the University of Michigan, James has spent more than a decade of his career helping readers make smarter financial decisions.