Barclays vs Cit Bank
High-Yield Savings Accounts Comparison
Last Updated: June 16, 2025
Summary of Barclays vs. CIT Bank
As of June 16, 2025 Barclays offers an APY of 4.20% for its Tiered Savings account, compared to CIT Bank's 4.00% APY for its Platinum Savings account.
Barclays yields $20 more than CIT Bank on a $10,000 balance after one year. Barclays pays $420, while CIT Bank pays $400 - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account, while CIT Bank offers 3.90% APY for the Savings Connect account.
Barclays
Strengths
- Barclays offers a higher APY of 4.20% for balances over $250,000.
- Barclays has an A+ BBB rating and is BBB Accredited.
- Barclays has a higher App Store rating of 4.8.
Potential Drawbacks
- Barclays' higher APY requires a minimum balance of $250,000.
- Barclays' Online Savings account APY decreased from 3.80% to 3.70%.
CIT Bank
Strengths
- CIT Bank's Platinum Savings account offers a competitive APY of 4.00%.
- CIT Bank has no maintenance fees across all accounts.
- CIT Bank's Savings Connect account has an APY of 3.90%.
Potential Drawbacks
- CIT Bank's Platinum Savings APY decreased from 4.10% to 4.00%.
- CIT Bank is not BBB Accredited and has an A- BBB rating.
- CIT Bank's App Store rating is lower at 4.8 compared to Barclays.
Summary: Barclays offers a higher APY of 4.20% for large balances and has a better BBB rating than CIT Bank. However, CIT Bank provides solid APYs of 4.00% and 3.90% for its accounts without requiring high minimum balances. Both banks lack branch access and have no maintenance fees, but Barclays' Online Savings account saw a slight decrease in APY, while CIT Bank's Platinum Savings account also dropped. Barclays holds a slight edge in overall ratings.
Compare Barclays' vs CIT Bank's Savings Accounts
| Barclays | CIT Bank | ||||
|---|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | Platinum Savings | Savings Connect |
| APY | 4.00% - 4.20% (as of 6/16/2025) | 3.70% (as of 6/16/2025) | 0.25% - 4.00% (as of 6/16/2025) | 3.90% (as of 6/16/2025) | |
| Bundled Account | No | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $100 | $100 | |
| Minimum Balance for APY | $250,000 | Enough to earn $0.01 in interest | $5,000 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | No | |
| Note | The 4.20% APY is only available for balances over $250,000. For lower balances, the APY is 4.00%. | N/A | N/A | N/A | |
| Visit Bank | Tiered Savings | Online Savings | Platinum Savings | Savings Connect | |
| App Store Rating | 4.8/5 | 4.8/5 | |||
| Google Play Rating | 4.7/5 | 4.6/5 | |||
| BBB Rating | A+ | A- | |||
Comparative Historical APY Insights (Last 5 Months)
| Barclays | CIT Bank | ||||
|---|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | Savings Connect | Platinum Savings |
| Latest APY | 3.70 % | 4.20 % | 3.90 % | 4.00 % | |
| Trend | Sideways | Falling | Sideways | Falling | |
| Slope (bps/mo) | -3.9 | -6.8 | -0.4 | -6.9 | |
| Rate Changes / Mo | 1.03 | 1.03 | 0.21 | 0.62 | |
| Days Since Last Change | 6 | 6 | 4 | 4 | |
| High (-5 m) | 4.00 % | 4.50 % | 4.00 % | 4.35 % | |
| Low (-5 m) | 3.70 % | 4.20 % | 3.90 % | 4.00 % | |
| Draw-down from High | -7.5 % | -6.7 % | -2.5 % | -8.0 % | |
| Volatility (CV) | 0.017 | 0.023 | 0.004 | 0.026 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 145 days.
- Low (-5 m)
- Lowest APY in the last 145 days.
- Draw-down from High
- How far today sits below the 5-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 Barclays vs CIT Bank
All calculations are based on APY.
Barclays
APY: 4.20%
Total savings breakdown:
- Interest earned: $42 (4.03%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.97%)
Your total balance
$1,042.00
Effective APY: 4.20% (based on your deposit and contributions)
Total balance: $1,042
Earnings: $42
Bank DetailsCIT 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 DetailsAfter 1 year Barclays would earn you $2 more than CIT Bank.
More Comparisons
Compare Barclays' APY of 4.20% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.60% | $0 |
| Barclays vs American Express | 3.60% | $0 |
| Barclays vs Axos Bank | 4.66% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.60% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs Discover Bank | 3.60% | $0 |
| Barclays vs Fitness Bank | 5.00% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs Varo Bank | 5.00% | $0 |
Compare CIT Bank's APY of 4.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| CIT Bank vs Ally Bank | 3.60% | $0 |
| CIT Bank vs American Express | 3.60% | $0 |
| CIT Bank vs Axos Bank | 4.66% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Capital One | 3.60% | $0 |
| CIT Bank vs Chase Bank | 0.01% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.60% | $0 |
| CIT Bank vs Fitness Bank | 5.00% | $100 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs Varo Bank | 5.00% | $0 |