Barclays vs Cit Bank
High-Yield Savings Accounts Comparison
Last Updated: August 1, 2025
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Summary of Barclays vs. CIT Bank
As of August 1, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to CIT Bank's 4.00% APY for its Platinum Savings account.
CIT Bank yields $10 more than Barclays on a $10,000 balance after one year. Barclays pays $390 (with an effective APY of 3.9%), while CIT Bank pays $400 - an APY advantage for CIT Bank.
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 4.10% for balances over $250,000.
- Barclays has a better BBB rating of A+ and is BBB Accredited.
- Barclays has a higher Google Play rating of 4.7.
Potential Drawbacks
- Barclays requires a minimum balance of $250,000 to earn the highest APY.
- Barclays has no physical branches available.
CIT Bank
Strengths
- CIT Bank offers a competitive APY of 4.00% with a lower minimum deposit of $100.
- CIT Bank has a lower minimum balance requirement of $5,000 for the Platinum Savings account.
- CIT Bank has a minimum deposit requirement of only $100 for its Savings Connect account.
Potential Drawbacks
- CIT Bank has a lower BBB rating of A- and is not BBB Accredited.
- CIT Bank has a lower Google Play rating of 4.6.
Summary: Barclays provides a higher APY of 4.10% for substantial balances, while CIT Bank offers a solid 4.00% APY with lower deposit requirements. Barclays has a superior BBB rating and Google Play rating, but requires a higher minimum balance for its best APY. CIT Bank, while not BBB Accredited, offers more accessible entry points for savers with lower minimums and balances.
Compare Barclays' vs CIT Bank's Savings Accounts
| Barclays | CIT Bank | ||||
|---|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | Platinum Savings | Savings Connect |
| APY | 3.90% - 4.10% (as of 8/1/2025) | 3.70% (as of 8/1/2025) | 0.25% - 4.00% (as of 8/1/2025) | 3.90% (as of 8/1/2025) | |
| 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 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | ||||
| 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 6 Months)
| Barclays | CIT Bank | ||||
|---|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | Savings Connect | Platinum Savings |
| Latest APY | 3.70 % | 4.10 % | 3.90 % | 4.00 % | |
| Trend | Sideways | Falling | Sideways | Falling | |
| Slope (bps/mo) | -4.3 | -7.3 | -1.8 | -6.0 | |
| Rate Changes / Mo | 0.78 | 0.93 | 0.16 | 0.47 | |
| Days Since Last Change | 54 | 46 | 52 | 52 | |
| High (-6 m) | 4.00 % | 4.50 % | 4.00 % | 4.35 % | |
| Low (-6 m) | 3.70 % | 4.10 % | 3.90 % | 4.00 % | |
| Draw-down from High | -7.5 % | -8.9 % | -2.5 % | -8.0 % | |
| Volatility (CV) | 0.022 | 0.033 | 0.011 | 0.029 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 193 days.
- Low (-6 m)
- Lowest APY in the last 193 days.
- Draw-down from High
- How far today sits below the 6-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: 4.10%
⚠️The higher APY only applies once your balance reaches $250,000.
Total savings breakdown:
- Interest earned: $2,370.2 (11.64%)
- Total contributions: $13,000 (63.82%)
- Initial deposit: $5,000 (24.55%)
Your total balance
$20,370.20
Effective APY: 3.90% (based on your deposit and contributions)
Total balance: $20,370.2
Earnings: $2,370.2
Bank OverviewCIT Bank
APY: 4.00%
Total savings breakdown:
- Interest earned: $2,434.7 (11.91%)
- Total contributions: $13,000 (63.62%)
- Initial deposit: $5,000 (24.47%)
Your total balance
$20,434.70
Effective APY: 4.00% (based on your deposit and contributions)
Total balance: $20,434.7
Earnings: $2,434.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Barclays's total earnings would be $64.5 lower than CIT Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Barclays' APY of 4.10% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.50% | $0 |
| Barclays vs American Express | 3.50% | $0 |
| Barclays vs Axos Bank | 4.46% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.50% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs Discover Bank | 3.50% | $0 |
| Barclays vs Fitness Bank | 4.85% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs Presidential Bank | 4.50% | $5,000 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs UFB Direct | 4.21% | $5000 |
| Barclays vs Varo Bank | 5.00% | $0 |
| Barclays vs Wells Fargo | 2.51% | $25 |
Compare CIT Bank's APY of 4.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| CIT Bank vs Ally Bank | 3.50% | $0 |
| CIT Bank vs American Express | 3.50% | $0 |
| CIT Bank vs Axos Bank | 4.46% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Capital One | 3.50% | $0 |
| CIT Bank vs Chase Bank | 0.01% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.50% | $0 |
| CIT Bank vs Fitness Bank | 4.85% | $100 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs Presidential Bank | 4.50% | $5,000 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs UFB Direct | 4.21% | $5000 |
| CIT Bank vs Varo Bank | 5.00% | $0 |
| CIT Bank vs Wells Fargo | 2.51% | $25 |