Carver Bank vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | CIT BankPlatinum Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 0.25% - 3.75% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $5,000 | $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 InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Carver Bank vs. CIT Bank
As of Carver Bank offers an APY of 4.00% for its High Yield Savings account, with a minimum balance of $5,000, compared to CIT Bank's 3.75% APY for its Platinum Savings account, with a minimum balance of $5,000.
Carver Bank pays $25 more than CIT Bank on a $10,000 balance after one year. Carver Bank pays $400, while CIT Bank pays $375 - an APY advantage for Carver Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.65%-3.75%)
Why CIT Bank?
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $375/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $938/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $25 more interest on a $10,000 balance than CIT Bank's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Carver Bank offers a High Yield Savings account with a competitive APY of 4.00%, making it the winner in this comparison. This account requires a minimum deposit and balance of $5,000 but has no maintenance fees if the balance requirement is met and does not necessitate direct deposit. In contrast, CIT Bank's Platinum Savings account provides a lower APY of 3.75%, also requiring a minimum balance of $5,000 to earn that rate, while lower balances yield only 0.25%. CIT Bank also features a Savings Connect account with an APY of 3.65%, but Carver Bank's offering remains superior for higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Carver Bank vs. CIT Bank Savings Calculator
You earn $25 more with Carver Bank than CIT Bank 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.
Carver Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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.
| Feature | Carver Bank | CIT Bank |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 3.75% Range: 0.25% - 3.75% Verified: 1/7/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings | Platinum Savings |
| Minimum Deposit | $5,000 | $100 |
| Min. Balance for APY | $5,000 | $5,000 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.5 | iOS4.8 Android4.4 |
| Zelle® Support | Available Full native integration in digital banking. | 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 Carver Bank Non-sponsored link to official site | Visit SiteGo to CIT Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | CIT Bank | |
|---|---|---|---|
| High Yield Savings | Savings Connect | Platinum Savings | |
Current APY | 4.00% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -1.0 | -3.7 | -4.9 |
Days Since Change | 309 | 48 | 48 |
11-Month High | 4.25% | 4.00% | 4.35% |
11-Month Low | 4.00% | 3.65% | 3.75% |
Adjustments / Mo | 0.09 | 0.26 | 0.44 |
Volatility Score | 0.017 | 0.035 | 0.044 |
How to read these metrics(Click to expand)
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