Bask Bank vs. Cit Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of Bask Bank vs. CIT Bank
Key Metrics at a Glance
| Feature | Bask Bank | CIT Bank |
|---|---|---|
| Top Savings APY | 4.05% Interest Savings Account | 3.85% Platinum Savings |
| Minimum to Open | $0 | $100 |
| Minimum Balance for Top APY | $0 | $5,000 |
Bask Bank
Strengths
- Bask Bank offers a higher APY of 4.05% compared to CIT Bank's highest APY of 3.85%.
- Bask Bank has no minimum balance requirement for its Interest Savings Account.
- Bask Bank has a higher App Store rating of 4.7 compared to CIT Bank's 4.8.
Potential Drawbacks
- Bask Bank's APY decreased from 4.15% to 4.05% in the last 30 days.
- Bask Bank has a lower BBB rating of B compared to CIT Bank's A-.
- Bask Bank has no branches, limiting in-person banking options.
CIT Bank
Strengths
- CIT Bank's Platinum Savings account has a lower APY of 3.85%, but offers a competitive alternative.
- CIT Bank has a lower minimum deposit of $100 for its accounts.
- CIT Bank has a BBB rating of A- indicating better trustworthiness.
Potential Drawbacks
- CIT Bank's highest APY of 3.85% is lower than Bask Bank's 4.05%.
- CIT Bank requires a minimum balance of $5,000 for its Platinum Savings account.
- CIT Bank's App Store rating is slightly lower at 4.8 compared to Bask Bank's 4.7.
→ As of October 16, 2025 Bask Bank offers an APY of 4.05% for its Interest Savings Account, with a minimum balance of $0, compared to CIT Bank's 3.85% APY for its Platinum Savings account, with a minimum balance of $5,000.
→ Bask Bank yields $20 more than CIT Bank on a $10,000 balance after one year. Bask Bank pays $405, while CIT Bank pays $385 - an APY advantage for Bask Bank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.
Calculate Savings Growth for Bask Bank vs CIT Bank
Bask Bank
Total savings breakdown:
- Interest earned: $2,467 (12.05%)
- Total contributions: $13,000 (63.52%)
- Initial deposit: $5,000 (24.43%)
Your total balance
$20,467.00
Total balance: $20,467
Earnings: $2,467
Bank OverviewCIT Bank
Total savings breakdown:
- Interest earned: $2,338 (11.50%)
- Total contributions: $13,000 (63.92%)
- Initial deposit: $5,000 (24.58%)
Your total balance
$20,338.00
Total balance: $20,338
Earnings: $2,338
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bask Bank's total earnings would be $129 higher than CIT Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bask Bank's vs CIT Bank's Savings Accounts
| Bask Bank | CIT Bank | |||
|---|---|---|---|---|
| Product | Interest Savings Account | vs | Platinum Savings | Savings Connect |
| APY | 4.05% (as of 10/16/2025) | 0.25% - 3.85% (as of 10/16/2025) | 3.75% (as of 10/16/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $100 | $100 | |
| Minimum Balance for APY | $0 | $5,000 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| App Store Rating | 4.7/5 | 4.8/5 | ||
| Google Play Rating | 4.5/5 | 4.3/5 | ||
| BBB Rating | B | A- | ||
Comparative Historical APY Insights (Last 10 Months)
| Bask Bank | CIT Bank | |||
|---|---|---|---|---|
| Product | Interest Savings Account | vs | Savings Connect | Platinum Savings |
| Latest APY | 4.05 % | 3.75 % | 3.85 % | |
| Trend | Sideways | Sideways | Falling | |
| Slope (bps/mo) | -4.1 | -2.4 | -5.1 | |
| Rate Changes / Mo | 0.50 | 0.20 | 0.50 | |
| Days Since Last Change | 27 | 23 | 23 | |
| High (-10 m) | 4.65 % | 4.00 % | 4.55 % | |
| Low (-10 m) | 4.05 % | 3.75 % | 3.85 % | |
| Draw-down from High | -12.9 % | -6.3 % | -15.4 % | |
| Volatility (CV) | 0.029 | 0.019 | 0.037 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 303 days.
- Low (-10 m)
- Lowest APY in the last 303 days.
- Draw-down from High
- How far today sits below the 10-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.