American Express vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | American ExpressHigh Yield Savings Account Jan 21, 2026 | CIT BankPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 0.25% - 3.75% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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%. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® Supported | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing American Express vs. CIT Bank
As of American Express offers an APY of 3.30% for its High Yield Savings Account, with a minimum balance of $0, compared to CIT Bank's 3.75% APY for its Platinum Savings account, with a minimum balance of $5,000.
CIT Bank pays $45 more than American Express on a $10,000 balance after one year. American Express pays $330, while CIT Bank pays $375 - an APY advantage for CIT Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
Why American Express?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.30%)
- ✓Higher rated Android app (4.6 vs 3.6)
- ✓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 American Express's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
CIT Bank offers a competitive edge with its Platinum Savings account, providing a higher APY of 3.75% for balances over $5,000, while its Savings Connect account yields 3.65% with no minimum balance requirement, making it ideal for simplicity. In comparison, American Express's High Yield Savings Account offers a lower APY of 3.30% and is an online-only option with no minimum deposit or balance requirements. Both banks do not require direct deposit and charge no maintenance fees. Overall, CIT Bank's products present better returns, especially for larger deposits.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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American Express vs. CIT Bank Savings Calculator
You earn $45 more with CIT Bank than American Express on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | American Express | CIT Bank |
|---|---|---|
| APY | 3.30% Verified: 1/21/2026 ↘︎ 0.20%90d Change | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield 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 | iOS4.9 Android3.6 | iOS4.8 Android4.6 |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Available Supported for eChecking users post-First Citizens merger. |
| BBB Rating | F | A- |
| Important Notes | - | 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 | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteGo to CIT Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | CIT Bank | |
|---|---|---|---|
| High Yield Savings Account | Savings Connect | Platinum Savings | |
Current APY | 3.30% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.6 | -3.6 | -4.9 |
Days Since Change | 22 | 62 | 62 |
12-Month High | 3.80% | 4.00% | 4.35% |
12-Month Low | 3.30% | 3.65% | 3.75% |
Adjustments / Mo | 0.41 | 0.25 | 0.41 |
Volatility Score | 0.038 | 0.036 | 0.046 |
How to read these metrics(Click to expand)
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