Axos Bank vs Cit Bank
High-Yield Savings Accounts Comparison

Last Updated: July 16, 2025

Summary of Axos Bank vs. CIT Bank

As of July 16, 2025 Axos Bank offers an APY of 4.66% for its Axos ONE account, compared to CIT Bank's 4.00% APY for its Platinum Savings account.

Axos Bank yields $66 more than CIT Bank on a $10,000 balance after one year. Axos Bank pays $466, while CIT Bank pays $400 - an APY advantage for Axos Bank.

In addition, Axos Bank also offers 4.00% APY for the Summit Savings account, while CIT Bank offers 3.90% APY for the Savings Connect account.

Axos Bank

Strengths

  • Axos Bank offers a higher APY of 4.66% with the Axos ONE account.
  • Axos Bank has a better BBB rating of A+ and is BBB Accredited.
  • Axos Bank has no minimum balance requirement for its accounts.

Potential Drawbacks

  • To earn the highest APY, Axos Bank requires either direct deposit or qualifying deposits.
  • Axos Bank's app ratings are slightly lower than CIT Bank's.

CIT Bank

Strengths

  • CIT Bank offers a competitive APY of 4.00% with the Platinum Savings account.
  • CIT Bank has a higher App Store rating of 4.8.

Potential Drawbacks

  • CIT Bank's Platinum Savings requires a minimum balance of $5,000 to earn the APY.
  • CIT Bank's BBB rating is lower at A- and it is not BBB Accredited.
Summary: Axos Bank provides a superior APY of 4.66% with fewer restrictions compared to CIT Bank's 4.00% APY, which requires a higher minimum balance. Axos Bank also boasts a better BBB rating of A+ and is accredited, while CIT Bank's rating is A- and not accredited. Additionally, CIT Bank has slightly higher app ratings, but Axos Bank has no minimum balance requirements across its accounts.

Compare Axos Bank's vs CIT Bank's Savings Accounts

Axos BankCIT Bank
ProductAxos ONESummit SavingsHigh Yield SavingsvsSavings ConnectPlatinum Savings
APY
4.66% (as of 7/16/2025)4.00% (as of 7/16/2025)0.61% (as of 7/16/2025)3.90% (as of 7/15/2025)0.25% - 4.00% (as of 7/15/2025)
Bundled Account
YesNoNoNoNo
FDIC-insured
YesYesYesYesYes
Online OnlyYesYesYesYesYes
Compound Frequency
DailyDailyDailyDailyDaily
Minimum Deposit$0$0$0$100$100
Minimum Balance for APY$0$0$0$0$5,000
Maintenance Fee$0$0$0$0$0
Direct Deposit Required
No. Not required, but is the easiest way to earn the highest APY.NoNoNoNo
NoteThis APY is only available with the Axos ONE savings and checking bundle. 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.N/AN/AN/AN/A
Visit BankAxos ONESummit SavingsHigh Yield SavingsSavings ConnectPlatinum Savings
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.6/5
BBB RatingA+A-

Comparative Historical APY Insights (Last 7 Months)

Axos BankCIT Bank
ProductHigh Yield SavingsSummit SavingsAxos ONEvsSavings ConnectPlatinum Savings
Latest APY0.61 %4.00 %4.66 %3.90 %4.00 %
TrendSidewaysSidewaysSidewaysSidewaysFalling
Slope (bps/mo)0.00.0-4.5-1.4-6.5
Rate Changes / Mo0.000.000.140.140.57
Days Since Last Change189161063434
High (-7 m)0.61 %4.00 %4.86 %4.00 %4.55 %
Low (-7 m)0.61 %4.00 %4.66 %3.90 %4.00 %
Draw-down from High0.0 %0.0 %-4.1 %-2.5 %-12.1 %
Volatility (CV)0.0000.0000.0210.0090.031
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 7 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-7 m)
Highest APY in the last 210 days.
Low (-7 m)
Lowest APY in the last 210 days.
Draw-down from High
How far today sits below the 7-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Calculate Savings Growth for Axos Bank vs CIT Bank

All calculations are based on APY.

Axos Bank

APY: 4.66%

Total savings breakdown:

  • Interest earned: $46.6 (4.45%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (95.55%)

Your total balance

$1,046.60

Effective APY: 4.66% (based on your deposit and contributions)

Total balance: $1,046.6

Earnings: $46.6

Bank Details

CIT Bank

APY: 4.00%

Total savings breakdown:

  • Interest earned: $40 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.15%)

Your total balance

$1,040.00

Effective APY: 4.00% (based on your deposit and contributions)

Total balance: $1,040

Earnings: $40

Bank Details

After 1 year Axos Bank would earn you $6.6 more than CIT Bank.

More Comparisons

Compare Axos Bank's APY of 4.66% with other banks
Compare CIT Bank's APY of 4.00% with other banks