Chase Bank vs Cit Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Chase Bank vs. CIT Bank

As of July 15, 2025 Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, compared to CIT Bank's 4.00% APY for its Platinum Savings account.

CIT Bank yields $399 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while CIT Bank pays $400 - an APY advantage for CIT Bank.

In addition, CIT Bank also offers 3.90% APY for the Savings Connect account.

Chase Bank

Strengths

  • Chase Bank has a high App Store rating of 4.8.
  • Chase Savings℠ requires no minimum deposit to open an account.
  • Chase Bank's BBB rating is A-.

Potential Drawbacks

  • Chase Savings℠ offers a low APY of 0.01%.
  • Chase Bank charges a maintenance fee of $5.

CIT Bank

Strengths

  • CIT Bank's Platinum Savings offers a high APY of 4.00%.
  • CIT Bank has no maintenance fees for its accounts.

Potential Drawbacks

  • CIT Bank requires a minimum deposit of $100 to open an account.
  • CIT Bank has no physical branches for in-person service.
Summary: CIT Bank offers significantly higher APYs with 4.00% for its Platinum Savings account, compared to Chase Bank's 0.01%. While Chase Bank has a strong App Store rating and no minimum deposit for its account, it charges a maintenance fee. CIT Bank has no maintenance fees but requires a minimum deposit and has no physical branches, which may be a drawback for some customers.

Compare Chase Bank's vs CIT Bank's Savings Accounts

Chase BankCIT Bank
ProductChase Savings℠vsSavings ConnectPlatinum Savings
APY
0.01% (as of 7/15/2025)3.90% (as of 7/15/2025)0.25% - 4.00% (as of 7/15/2025)
Bundled Account
NoNoNo
FDIC-insured
YesYesYes
Online OnlyNoYesYes
Compound Frequency
MonthlyDailyDaily
Minimum Deposit$0$100$100
Minimum Balance for APY$0$0$5,000
Maintenance Fee$5$0$0
Direct Deposit Required
NoNoNo
NoteAPY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc.N/AN/A
Visit BankChase Savings℠Savings ConnectPlatinum Savings
App Store Rating4.8/54.8/5
Google Play Rating4.5/54.6/5
BBB RatingA-A-

Comparative Historical APY Insights (Last 6 Months)

Chase BankCIT Bank
ProductChase Savings℠vsSavings ConnectPlatinum Savings
Latest APY0.01 %3.90 %4.00 %
TrendSidewaysSidewaysFalling
Slope (bps/mo)0.0-1.7-6.5
Rate Changes / Mo0.000.180.54
Days Since Last Change1683434
High (-6 m)0.01 %4.00 %4.35 %
Low (-6 m)0.01 %3.90 %4.00 %
Draw-down from High0.0 %-2.5 %-8.0 %
Volatility (CV)0.0000.0100.028
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 168 days.
Low (-6 m)
Lowest APY in the last 168 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 Chase Bank vs CIT Bank

All calculations are based on APY.

Chase Bank

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

CIT Bank

APY: 4.00%

Total savings breakdown:

  • Interest earned: $40 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.15%)

Your total balance

$1,040.00

Effective APY: 4.00% (based on your deposit and contributions)

Total balance: $1,040

Earnings: $40

Bank Details

After 1 year Chase Bank would earn you $39.9 less than CIT Bank.

More Comparisons

Compare Chase Bank's APY of 0.01% with other banks
Compare CIT Bank's APY of 4.00% with other banks