Why CIT Bank?
- High rate on larger balancesTop APY from $5,000
- Promo boostsTemporary APY boosts with promo codes
- Established bankDivision of First Citizens Bank
- No monthly feesKeep every dollar of interest
- Easy transfersLink outside accounts
- FDIC insuredThrough First Citizens
Overview
CIT Bank is the online division of First Citizens Bank. Platinum Savings pays its top rate on balances of $5,000 or more and a much lower rate below that.
A good fit for a larger refund combined with existing savings.
Pricing
What CIT Bank pays and what it takes to earn the top rate, as of October 7, 2026.
| Plan | As of October 7, 2026 | What you get |
|---|---|---|
| APY ($5,000+) | 3.75% | Variable |
| APY (under $5,000) | Low | Much lower tier |
| Minimum | $100 | To open |
| Monthly fee | $0 | None |
Rates note: APYs and terms are as of October 7, 2026 and are variable. FDIC membership was checked on each bank's own website; FDIC insurance covers up to $250,000 per depositor, per insured bank, per ownership category. Confirm the current rate and terms before you open an account.
Try CIT Bank for yourself
$100 to open, top rate from $5,000.
Key features
- Tiered rate: Top APY from $5,000.
- Promo boosts: Periodic temporary APY boosts.
- Mobile app: Deposit checks and transfer money.
- FDIC coverage: Through First Citizens Bank.
Watch the balance tier
The headline rate needs a $5,000 balance. Below that, the rate drops sharply, so it is a poor fit for small balances.
Pros and cons
What we like
- Strong rate on $5,000+
- No monthly fees
- Backed by a large bank
- Periodic promos
What to watch
- Low rate under $5,000
- $100 to open
- No branches
- Rate is variable
Who it is for
Pick CIT Bank Platinum Savings if you will keep at least $5,000 in the account.
Ready to start with CIT Bank?
Best for balances over $5,000.
Alternatives to CIT Bank
FAQ
What is CIT Bank?
The online banking division of First Citizens Bank, an FDIC member.
What APY do I get under $5,000?
A much lower rate. Check CIT's site for the current tier.
Are there monthly fees?
No.
Show your rating
Are you CIT Bank? Show your TaxSeason score on your site. Copy this code; the badge links back to this review.
Disclosure: we may earn a commission if you sign up through links marked Sponsored on this page, at no extra cost to you. Scores follow our published method and are not for sale. Read our affiliate disclosure.
Not advice: Rates and terms change often; check the bank's site before you open an account. General information only, not tax, legal or financial advice. Consult a qualified tax professional.