I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.
I want to know of only people who have used it or can offer advice on its validity.
The website is registered by a Chinese company based in Guang Dong, China.
Bank of China prohibits any banking or financial institutions from providing any Bitcoin related services. So to answer your question, this appears illegitimate.
There is no regulated bitcoin "bank" in the world. A bank has to be insured. If an entity calls it a bank, it is a scam.