Chase Bank vs Cit Bank
High-Yield Savings Accounts Comparison
Last Updated: June 20, 2025
Summary of Chase Bank vs. CIT Bank
As of June 20, 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 offers a $0 minimum deposit for the Chase Savings℠ account.
- Chase Bank has a high App Store rating of 4.8.
- Chase Bank's BBB rating is A-.
Potential Drawbacks
- Chase Savings℠ has a low APY of 0.01%.
- Chase Bank charges a $5 maintenance fee unless conditions are met.
CIT Bank
Strengths
- CIT Bank's Platinum Savings account offers a competitive APY of 4.00%.
- CIT Bank has no maintenance fees for its accounts.
- CIT Bank's Google Play rating is slightly higher at 4.6.
Potential Drawbacks
- CIT Bank requires a $100 minimum deposit and $5,000 minimum balance for Platinum Savings.
- CIT Bank is not BBB Accredited.
Summary: CIT Bank offers a significantly higher APY of 4.00% for its Platinum Savings account compared to Chase Bank's 0.01%. However, CIT Bank requires a $5,000 minimum balance, while Chase Bank has no minimum balance requirement. Both banks have an A- BBB rating, but CIT Bank is not BBB Accredited. Additionally, Chase Bank has a lower maintenance fee structure, while CIT Bank has no fees at all.
Compare Chase Bank's vs CIT Bank's Savings Accounts
| Chase Bank | CIT Bank | |||
|---|---|---|---|---|
| Product | Chase Savings℠ | vs | Platinum Savings | Savings Connect |
| APY | 0.01% (as of 6/20/2025) | 0.25% - 4.00% (as of 6/20/2025) | 3.90% (as of 6/20/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | No | Yes | Yes | |
| Compound Frequency | Monthly | Daily | Daily | |
| Minimum Deposit | $0 | $100 | $100 | |
| Minimum Balance for APY | $0 | $5,000 | $0 | |
| Maintenance Fee | $5 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| Note | APY 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/A | N/A | |
| Visit Bank | Chase Savings℠ | Platinum Savings | Savings Connect | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.5/5 | 4.6/5 | ||
| BBB Rating | A- | A- | ||
Comparative Historical APY Insights (Last 5 Months)
| Chase Bank | CIT Bank | |||
|---|---|---|---|---|
| Product | Chase Savings℠ | vs | Savings Connect | Platinum Savings |
| Latest APY | 0.01 % | 3.90 % | 4.00 % | |
| Trend | Sideways | Sideways | Falling | |
| Slope (bps/mo) | 0.0 | -0.8 | -6.8 | |
| Rate Changes / Mo | 0.00 | 0.21 | 0.63 | |
| Days Since Last Change | 143 | 9 | 9 | |
| High (-5 m) | 0.01 % | 4.00 % | 4.35 % | |
| Low (-5 m) | 0.01 % | 3.90 % | 4.00 % | |
| Draw-down from High | 0.0 % | -2.5 % | -8.0 % | |
| Volatility (CV) | 0.000 | 0.006 | 0.026 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 144 days.
- Low (-5 m)
- Lowest APY in the last 144 days.
- Draw-down from High
- How far today sits below the 5-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 DetailsCIT 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 DetailsAfter 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
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.50% | $0 |
| Chase Bank vs American Express | 3.60% | $0 |
| Chase Bank vs Axos Bank | 4.66% | $0 |
| Chase Bank vs Bank of America | 0.01% | $100 |
| Chase Bank vs Barclays | 4.10% | $0 |
| Chase Bank vs Capital One | 3.60% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs Discover Bank | 3.60% | $0 |
| Chase Bank vs Fitness Bank | 5.00% | $100 |
| Chase Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chase Bank vs SoFi Bank | 3.80% | $0 |
| Chase Bank vs Synchrony Bank | 3.80% | $0 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
Compare CIT Bank's APY of 4.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| CIT Bank vs Ally Bank | 3.50% | $0 |
| CIT Bank vs American Express | 3.60% | $0 |
| CIT Bank vs Axos Bank | 4.66% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Barclays | 4.10% | $0 |
| CIT Bank vs Capital One | 3.60% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.60% | $0 |
| CIT Bank vs Fitness Bank | 5.00% | $100 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs Varo Bank | 5.00% | $0 |