BMO Alto vs. CIT Bank
Comparing BMO Alto and CIT Bank for high-yield savings: BMO Alto's Savings Account pays 3.15% APY while CIT Bank's Platinum Savings pays 3.75% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? CIT Bank pays $60 more than BMO Alto annually ($375 vs $315).
Choose CIT Bank if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), you're an Android user (no Android app for BMO Alto), or you want Zelle for quick transfers.
| Metric | BMO AltoSavings Account Feb 21, 2026 | CIT BankPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.15% | 0.25% - 3.75% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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 InsuredNo MinimumsDaily 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
CIT Bank offers a competitive edge with its Platinum Savings account, providing a high APY of 3.75%, contingent upon maintaining a minimum balance of $5,000. For those seeking simplicity, the Savings Connect account yields a solid 3.65% APY without any balance requirements or direct deposit stipulations. In contrast, BMO Alto's Savings Account offers a lower APY of 3.15% and is an online-only product with no minimum deposit or balance requirements. Both banks present fee-free options, but CIT Bank's higher APY makes it the preferred choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why BMO Alto?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.15%)
- ✓Higher rated iOS app (4.8 vs 0.0)
- ✓Higher rated Android app (4.7 vs 0.0)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $315/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $788/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
CIT BankCIT Bank offers an iOS app rated 4.8 (vs. 0.0) and Android app rated 4.7 (vs. 0.0)
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $60 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
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* Secure link to our partner
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BMO Alto vs. CIT Bank Savings Calculator
You earn $60 more with CIT Bank than BMO Alto 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.
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
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 $314 per year in interest.
Both BMO Alto and CIT Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | BMO Alto | CIT Bank |
|---|---|---|
| APY | 3.15% Verified: 2/21/2026 ↘︎ 0.10%90d Change | 3.75% Range: 0.25% - 3.75% Verified: 2/21/2026 Stable (90d) |
| Product Name | Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $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 | iOS- Android- | |
| 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 | - | 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 BMO Alto Non-sponsored link to official site | Visit SiteGo to CIT Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | CIT Bank | |
|---|---|---|---|
| Savings Account | Savings Connect | Platinum Savings | |
Current APY | 3.15% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -5.1 | -3.8 | -4.4 |
Days Since Change | 4 | 93 | 93 |
12-Month High | 4.00% | 4.00% | 4.30% |
12-Month Low | 3.15% | 3.65% | 3.75% |
Adjustments / Mo | 0.41 | 0.25 | 0.33 |
Volatility Score | 0.058 | 0.037 | 0.042 |
How to read these metrics(Click to expand)
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More Comparisons
Compare BMO Alto's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.20% | $0 |
| BMO Alto vs American Express | 3.30% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Bank of America | 0.01% | $100 |
| BMO Alto vs Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.30% | $0 |
| BMO Alto vs Chase Bank | 0.01% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs Citibank | 3.20% | $0 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.65% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.09% | $500 |
| BMO Alto vs Pibank | 4.60% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Synchrony Bank | 3.50% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |
| BMO Alto vs Wells Fargo | 0.05% | $25 |