Charles Schwab Bank vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
CIT Bank
Platinum Savings
Up to3.75%APYDec 10, 2025FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppRange: 0.25% – 3.75%Show Fine Print & Trends Hide Details
CIT Bank
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Charles Schwab Bank vs. CIT Bank Savings Calculator
CIT Bank earns $2,187.7 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$2,273.80(11.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,273.80
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. CIT Bank
Why Charles Schwab Bank?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 0.15%)
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.3 vs 2.9)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $15/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $38/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $360 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
CIT Bank offers a significantly higher APY of 3.75% with its Platinum Savings account, making it the superior choice compared to Charles Schwab Bank's Schwab Bank Investor Savings™, which has an APY of 0.15%. CIT Bank's Platinum Savings also requires a minimum deposit of $100 and a minimum balance of $5,000, while Schwab has no minimum deposit or balance requirements. Additionally, CIT Bank provides an alternative with its Savings Connect account, yielding 3.65% APY, which is also online-only and does not require direct deposit. Overall, CIT Bank stands out for its higher returns.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Charles Schwab Bank and CIT Bank.
| Feature | Charles Schwab Bank | CIT Bank |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 3.75% Range: 0.25% - 3.75% Verified: 12/10/2025 ↘︎ 0.25%90d Change |
| Product Name | Schwab Bank Investor Savings™ | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0.01 | $5,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS4.8 Android4.3 |
| BBB Rating | A+ | A- |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | CIT Bank | |
|---|---|---|---|
| Schwab Bank Investor Savings™ | Savings Connect | Platinum Savings | |
Current APY | 0.15% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -0.0 | -3.5 | -5.0 |
Days Since Change | 314 | 20 | 20 |
10-Month High | 0.15% | 4.00% | 4.35% |
10-Month Low | 0.15% | 3.65% | 3.75% |
Adjustments / Mo | 0.00 | 0.29 | 0.48 |
Volatility Score | 0.000 | 0.031 | 0.041 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Charles Schwab Bank vs...
Comparing against Standard Savings
Compare CIT Bank vs...
Comparing against Standard Savings
Higher Rates (With Checking)
Looking for something different? Check out these top-rated alternatives.