Limited-Time Offer: This 3.85% APY Savings Account Now Offers up to a $300 Bonus
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New CIT customers can now get a cash bonus when they open a CIT Platinum Savings account:
- $225 with a minimum deposit of $25,000
- $300 with a minimum deposit of $50,000
Not everyone can hit those thresholds, but the account still offers a high annual percentage yield (APY), no monthly fees, and other great perks.
See how this high-yield savings account stacks up so you can decide if you should open one today.
On CIT's Secure Website.
Member FDIC.
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.
Savings APY
The CIT Platinum Savings account pays 3.85% APY for balances of $5,000 or more, which is a top-tier rate. However, lower balances earn just 0.25%. If you don't have at least $5,000 in savings, you'll want to look elsewhere.
The SoFi Checking and Savings (Member FDIC) account, for example, pays up to 4.50% APY right now on all savings balances, so long as you make eligible direct deposits (like a paycheck). That number includes a 0.70% APY boost that's currently available to new members. Terms apply.
If that sounds like a better fit for you, then click here to read our full SoFi Checking and Savings (Member FDIC) review and open an account today.
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SoFi Checking and Savings
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- Competitive APY on both Savings and Checking
- No monthly account fee
- Welcome bonus up to $300 (direct deposit required)
- ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)
- Early access to direct deposits
- Tools to help you track savings goals
- Combo account only; no stand-alone savings or checking
- Maximum Savings APY requires direct deposit
- No branch access; online only
- Overdraft protection requires monthly direct deposit minimum
For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, new customers earn a bonus of up to $300 with eligible direct deposit. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.
How good is the bonus?
If you're just chasing bonuses, then there are banks offering similar amounts with lower requirements -- especially certain checking accounts.
But if you want to earn a bonus and keep the account open for the long haul, then the CIT Platinum Savings account is hard to beat.
Its biggest competition here is the NexBank High-Yield Savings Account from Raisin. Not only does it pay a 4.26% APY on balances of $1 or more, but it offers even bigger bonuses for new customers.
To earn a bonus, enter the code EASY when opening an account through Raisin, then deposit a certain amount within 14 days of your first deposit:
- $75 bonus for deposits of $10,000 to $24,999
- $250 bonus for deposits of $25,000 to $49,999
- $500 bonus for deposits of $50,000 to $99,999
- $1,000 bonus for deposits of $100,000 or more
Offer ends Sept. 30, 2025.
So you can earn a bonus with a smaller deposit, and the bonuses are bigger for those who deposit $25,000 or more.
On CIT's Secure Website.
Member FDIC.
NexBank High-Yield Savings Account from Raisin
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- No monthly service fee
- Unlimited ACH transfers
- FDIC insured
- Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limited to one linked external account)
- No checking account offered through Raisin
- No branch access; online only
With a 4.26% APY -- one of the highest rates on any account we recommend -- the NexBank High-Yield Savings Account from Raisin stands out for savers who want serious returns with minimal effort. You only need $1 to open, and FDIC insurance through NexBank keeps your money protected. Raisin's secure online platform gives you 24/7 access to funds, and there's even a cash bonus opportunity if you deposit at least $10,000 within 14 days -- with higher deposits earning bigger rewards, up to $1,000. It's a no-fuss, set-it-and-forget-it option for growing your savings at a top rate.
Still, the CIT Platinum Savings account offers one big thing that the NexBank High-Yield Savings Account from Raisin doesn't…
Quick and easy access to cash
You may want to have a checking account at the same bank as your savings account. That way you can make instant transfers between accounts and get cash from an ATM whenever you need it.
CIT's eChecking account is a standout because it:
- Allows instant transfers to and from a CIT Platinum Savings account
- Has no monthly fees
- Offers up to $30 per month in ATM fee reimbursement
Some savings accounts, like the NexBank High-Yield Savings Account from Raisin, don't allow instant transfers to and from checking. All transfers go through the Automatic Clearing House (ACH), which means they typically take one to three business days.
Is the CIT Platinum Savings account worth it?
If you can maintain a balance of at least $5,000, then the CIT Platinum Savings account is an excellent option.
The 3.85% is almost unbeatable. And if you earn a bonus, that can boost the first-year value of the account even further.
Add in the top-notch checking account, and you'll probably be a happy CIT member for years.
Want to earn a limited-time cash bonus and a high APY? Click here to read our full CIT Platinum Savings account review and get started.
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.