CIT Bank: Savings Accounts & Rates

Updated: 2/21/2026

Mission: Banksparency aims to make CIT Bank's savings accounts transparent and comparable to the market.

Interest rates reported as APY

Analysis of CIT Bank

Our verdict

CIT Bank offers Platinum Savings, a high-yield savings account paying 3.75% APY with a $100 minimum deposit. To earn the full 3.75% APY, a minimum balance of $5,000 is required — below that, the rate drops to as low as 0.25% APY.

At 3.75% APY, CIT Bank pays 10x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.

CIT Bank also offers Savings Connect at 3.65% APY — a lower rate.

Ideal User Profile

Best for: simple saving without extra requirements, banking without needing a branch, and quick transfers with Zelle.

Key Differentiators

Stands out with top-rated iOS app (4.8), highly-rated Android app (4.7), A+ BBB rating, in-person banking available, Zelle for instant transfers.

Savings Overview

Platinum Savings

3.75% APY

Tiered Range: 0.25% - 3.75%

Very StableNo rate changes in last 90 days

Min: $100 Online Only

Rank #43 of 99 tracked.

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

Savings Connect

3.65% APY

Very StableNo rate changes in last 90 days

Min: $100 Online Only

Rank #50 of 99 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.15% APY.

See Top Rates

National Avg: 0.39% (FDIC, 1/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationNew York, New York
Founded2000
AffiliationCIT Bank is an online-only division of First Citizens Bank and Trust Company (FCB), whose parent company, First Citizens BancShares Inc. (NASDAQ: FCNCA), merged with CIT Group in 2022.
Ratings & Trust
4.8iOS 4.7Android A+BBB Not BBB Accredited (Information provided is for First Citizens Bank & Trust Company)
Zelle® SupportAvailable
Supported for eChecking users post-First Citizens merger.
Deposit InsuranceFDIC Insured(Cert: 11063)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$0
Min. Balance in Savings Account	$0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.6

The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

PREMIUM ACCOUNT, GENEROUS BONUS

SponsoredVerified Feb 21, 2026

FDIC Insured

CIT Bank - Platinum Savings

Competitive APY - with a balance of $5,000+
Earn up to $300 bonus with qualifying deposit
Highly rated mobile apps

FDIC Insured

Savings3.75%APY

Up to$300Bonus

Go to CIT Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$5,000
Mobile Ratings	iOS:4.8 Android:4.7

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Feb 21, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.50%APY

Go to Quontic Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$0
Mobile Ratings	iOS:4.8 Android:4.8

Top Market Contenders

Axos Bank

4.21% APY

vs. CIT Bank

American Express

3.30% APY

vs. CIT Bank

Ally Bank

3.20% APY

vs. CIT Bank

Popular Peer Comparisons

Bank of America vs SoFi Bank EverBank vs SoFi Bank Marcus by Goldman Sachs vs SoFi Bank SoFi Bank vs Synchrony Bank Barclays vs Capital One Discover Bank vs Synchrony Bank

Savings Accounts: In-Depth View

Savings Accounts Offered by CIT Bank

Feature	Savings Connect	Platinum Savings
APY	3.65%Verified: 2/21/2026	3.75%Range: 0.25% - 3.75%Verified: 2/21/2026
APY Trend	Very StableNo rate changes in last 90 days	Very StableNo rate changes in last 90 days
Min. Deposit	$100	$100
Min. Balance	$0	$5,000
Monthly Fee	$0	$0
Direct Deposit	None	None
Checking Bundle	No	No
Branch Access	None	None
Compounding	Daily	Daily
FDIC Insured	Yes	Yes
Eligibility	United States	United States
Important	-	This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.
Next Steps	SponsoredOpen Account (opens in a new tab) at CIT Bank	SponsoredOpen Account (opens in a new tab) at CIT Bank

Calculate Savings for CIT Bank

All calculations are based on APY.

Choose savings account

Initial Deposit

⚠️

Minimum balance for higher APY: $5,000

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,284.20(8.4%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,284.20

Effective APY

3.31%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

CIT Bank Savings Rates Over Time

Historical APY Insights

Last 12 Months

Metric	Savings Connect	Platinum Savings
Latest APY	3.65%	3.75%
Trend	Sideways	Sideways
Slope (bps/mo)	-3.8	-4.4
Rate Changes / Mo	0.25	0.33
Days Since Last Change	93	93
High (-12m)	4.00%	4.30%
Low (-12m)	3.65%	3.75%
Draw-down	-8.8%	-12.8%
Volatility (CV)	0.037	0.042

How to read these metrics▼

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 365-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with CIT Bank

Feature	Current View CIT Bank	Empty Slot
Product		-
APY	0.25% - 3.75%Verified: 2/21/2026	-
APY Trend	Very StableNo rate changes in last 90 days	-
Min. Deposit	$100	-
Monthly Fee	$0	-
Direct Deposit	No	-
Checking Bundle	No	-
Branch Access	None	-
Eligibility	United States	-
Compounding	Daily	-
FDIC Insured	Yes	-
Note	This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.	-
Next Steps	SponsoredOpen Account at CIT Bank	-

Bank-to-Bank Comparisons

Compare CIT Bank's APY of 3.75% with other banks

Bank Pair	Competitor APY	Min Deposit
CIT Bank vs Affirm	3.20%	$0
CIT Bank vs Ally Bank	3.20%	$0
CIT Bank vs American Express	3.30%	$0
CIT Bank vs Axos Bank	4.21%	$0
CIT Bank vs Bank of America	0.01%	$100
CIT Bank vs Barclays	3.85%	$0
CIT Bank vs Bask Bank	0.25%	$0
CIT Bank vs Betterment	3.90%	$10
CIT Bank vs BMO Alto	3.15%	$0
CIT Bank vs Bread Savings	4.00%	$100
CIT Bank vs BrioDirect	3.75%	$5,000
CIT Bank vs Capital One	3.30%	$0
CIT Bank vs Carver Bank	4.00%	$5,000
CIT Bank vs Charles Schwab Bank	0.15%	$0
CIT Bank vs Chase Bank	0.01%	$0
CIT Bank vs Chime	3.00%	$0
CIT Bank vs Citibank	3.20%	$0
CIT Bank vs Citizens Access™	3.15%	$0.01
CIT Bank vs Climate First Bank	4.21%	$50
CIT Bank vs Colorado Federal Savings Bank	4.05%	$50,000
CIT Bank vs Discover Bank	3.30%	$0
CIT Bank vs E*TRADE from Morgan Stanley	3.35%	$0
CIT Bank vs Elevault	3.82%	$0
CIT Bank vs EverBank	3.90%	$0
CIT Bank vs Fitness Bank	4.50%	$100
CIT Bank vs FNBO Direct	3.00%	$1
CIT Bank vs Forbright Bank	3.85%	$0
CIT Bank vs FVCbank	4.00%	$500
CIT Bank vs GO2bank	4.50%	$0
CIT Bank vs Ivy Bank	3.85%	$2,500
CIT Bank vs Jenius Bank	4.05%	$0
CIT Bank vs LendingClub	4.00%	$0
CIT Bank vs Marcus by Goldman Sachs	3.65%	$0
CIT Bank vs MutualOne Bank	4.07%	$20,000
CIT Bank vs My Banking Direct	4.02%	$500
CIT Bank vs Neighbors Bank	4.20%	$0
CIT Bank vs Newtek Bank	4.20%	$0.01
CIT Bank vs Openbank	4.09%	$500
CIT Bank vs Peak Bank	4.02%	$100
CIT Bank vs Pibank	4.60%	$0
CIT Bank vs PNC	3.30%	$0
CIT Bank vs Popular Direct	3.90%	$100
CIT Bank vs Presidential Bank	3.75%	$5,000
CIT Bank vs Quontic Bank	3.50%	$100
CIT Bank vs Salem Five Direct	3.61%	$10
CIT Bank vs Sallie Mae Bank	3.85%	$0
CIT Bank vs Santander Bank	0.01%	$25
CIT Bank vs SoFi Bank	4.00%	$0
CIT Bank vs Synchrony Bank	3.50%	$0
CIT Bank vs TD Bank	2.36%	$0
CIT Bank vs TIMBR	4.15%	$1,000
CIT Bank vs UFB Direct	3.46%	$5000
CIT Bank vs Upgrade	3.05%	$0
CIT Bank vs Valley Direct	4.00%	$1,000
CIT Bank vs Varo Bank	5.00%	$0
CIT Bank vs Vio Bank	4.03%	$100
CIT Bank vs Wealthfront	3.95%	$0
CIT Bank vs Wells Fargo	0.05%	$25
CIT Bank vs Zynlo Bank	3.85%	$10