Barclays vs. CIT Bank
Barclays edges out CIT Bank slightly at 3.85% vs 3.75% APY. On a $10,000 balance, the difference is just $5 per year—so other factors may matter more.
The Bottom Line
The Barclays and CIT Bank savings accounts are very similar. Choose CIT Bank if you want Zelle for quick transfers.
| Metric | BarclaysTiered Savings Mar 23, 2026 | CIT BankPlatinum Savings Mar 23, 2026 |
|---|---|---|
| APY | 3.70% - 3.85% | 0.25% - 3.75% |
Est. Earnings | $5,000+$185 $10,000+$370 $25,000+$925 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | The 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. | 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 InsuredHigh MinimumGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
Barclays offers a Tiered Savings account with a competitive 3.85% APY for balances over $250,000, while lower balances yield 3.70%. In contrast, CIT Bank's Savings Connect account provides a 3.65% APY with no minimum balance requirement, making it a simpler option. Both accounts are online-only and have no maintenance fees. However, the Barclays account yields a higher APY, making it the winner for those with larger deposits. For those preferring lower balances, CIT Bank's Savings Connect is a viable alternative.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Barclays?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
— Key Feature Differences —
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 $5 more interest on a $10,000 balance than Barclays's Tiered Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
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Barclays vs. CIT Bank Savings Calculator
You earn $5 more with CIT Bank than Barclays 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.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$370.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,370.00
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $369 per year in interest.
Both Barclays and CIT Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Barclays | CIT Bank |
|---|---|---|
| APY | 3.85% Range: 3.70% - 3.85% Verified: 3/23/2026 ↘︎ 0.15%90d Change | 3.75% Range: 0.25% - 3.75% Verified: 3/23/2026 Stable (90d) |
| Product Name | Tiered Savings | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $250,000 | $5,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None. You cannot make use of First Citizens Bank's branches. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Supported for eChecking users post-First Citizens merger. |
| BBB Rating | A+ | A+ |
| Important Notes | The 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. | 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 Barclays Non-sponsored link to official site | Visit SiteGo to CIT Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | CIT Bank | ||
|---|---|---|---|---|
| Tiered Savings | Online Savings | Savings Connect | Platinum Savings | |
Current APY | 3.85% | 3.50% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.5 | -2.6 | -3.8 | -3.8 |
Days Since Change | 31 | 31 | 123 | 123 |
12-Month High | 4.40% | 3.90% | 4.00% | 4.10% |
12-Month Low | 3.85% | 3.50% | 3.65% | 3.75% |
Adjustments / Mo | 0.58 | 0.49 | 0.25 | 0.25 |
Volatility Score | 0.033 | 0.026 | 0.037 | 0.036 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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