Ally Bank vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
CIT Bank
Platinum Savings
Up to3.75%APYDec 6, 2025FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppRange: 0.25% – 3.75%Show Fine Print & Trends Hide Details
CIT Bank
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Ally Bank vs. CIT Bank
Why Ally Bank?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.30%)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $330/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $825/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $45 more interest on a $10,000 balance than Ally Bank's Savings Account.
Executive Summary
CIT Bank offers a competitive Platinum Savings account with an APY of 3.75%, making it the standout option compared to Ally Bank's Savings Account, which has an APY of 3.30%. For those looking for simplicity, CIT Bank also provides a Savings Connect account with a slightly lower APY of 3.65%, both of which require a minimum deposit of $100 but have no maintenance fees. Ally Bank's product, while offering a solid rate, does not require a minimum deposit or balance, and is entirely online, but it falls short in APY compared to CIT Bank's offerings.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Ally Bank and CIT Bank.
| Feature | Ally Bank | CIT Bank |
|---|---|---|
| APY | 3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change | 3.75% Range: 0.25% - 3.75% Verified: 12/6/2025 ↘︎ 0.25%90d Change |
| Product Name | Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $5,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.8 Android4.3 |
| BBB Rating | A+ | A- |
| Next Steps |
Savings Comparison
CIT Bank earns $286.7 more than Ally Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$2,273.80(11.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,273.80
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | CIT Bank | |
|---|---|---|---|
| Savings Account | Savings Connect | Platinum Savings | |
Current APY | 3.30% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -4.3 | -3.4 | -5.0 |
Days Since Change | 36 | 16 | 16 |
10-Month High | 3.80% | 4.00% | 4.35% |
10-Month Low | 3.30% | 3.65% | 3.75% |
Adjustments / Mo | 0.48 | 0.29 | 0.48 |
Volatility Score | 0.039 | 0.030 | 0.041 |
How to read these metrics(Click to expand)
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