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CIT Bank has three savings accounts: Platinum Savings, Savings Connect and Savings Builder. If you’re confident that you’ll always have at least $5,000 in your account, Platinum Savings is the best choice, because of its 4.85% APY. However, if your balance drops below that threshold, you’ll only earn 0.25% APY.
The Savings Connect account may be a better choice, as you earn 4.50% APY regardless of your balance. The Savings Builder, which pays a maximum of 1.00% APY, is not worth looking at.
Features of the CIT savings account
| Account | APY | Minimum balance | Monthly allowance |
| CIT Platinum Savings | 4.85% on balances of $5,000 and over; 0.25% on balances under $5,000 | $100 to open; no requirements after that | No |
| CIT Savings Connection | 4.50% | $100 to open; no requirements after that | No |
| CIT Savings Program | 0.40% – 1.00% | $100 to open; must maintain a balance of $25,000 or make at least one monthly deposit of $100 or more to earn higher interest | No |
Rates valid from September 13, 2024.
