Chase Bank vs Cit Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Chase Bank vs. CIT Bank
As of August 29, 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 solid App Store rating of 4.8.
- Chase Bank offers a no minimum balance requirement for its savings account.
Potential Drawbacks
- Chase Bank's APY is only 0.01%, significantly lower than competitors.
- Chase Bank charges a $5 maintenance fee unless certain conditions are met.
CIT Bank
Strengths
- CIT Bank's Platinum Savings offers a competitive APY of 4.00%.
- CIT Bank has no maintenance fees for its savings accounts.
Potential Drawbacks
- CIT Bank requires a minimum deposit of $100 and a balance of $5,000 for its highest APY.
- CIT Bank is not BBB Accredited, which may raise concerns for some customers.
Summary: Chase Bank offers a low APY of 0.01% with a maintenance fee, while CIT Bank provides a much higher APY of 4.00% with no fees. However, CIT requires a minimum balance of $5,000 for its best rate. Both banks have strong App Store ratings, but CIT Bank lacks BBB Accreditation, unlike Chase Bank, which maintains an A- rating.
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 8/29/2025) | 0.25% - 4.00% (as of 8/29/2025) | 3.90% (as of 8/29/2025) | |
| 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. | |||
| 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 7 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 | -2.0 | -5.1 | |
| Rate Changes / Mo | 0.00 | 0.14 | 0.42 | |
| Days Since Last Change | 213 | 79 | 79 | |
| High (-7 m) | 0.01 % | 4.00 % | 4.35 % | |
| Low (-7 m) | 0.01 % | 3.90 % | 4.00 % | |
| Draw-down from High | 0.0 % | -2.5 % | -8.0 % | |
| Volatility (CV) | 0.000 | 0.012 | 0.029 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 213 days.
- Low (-7 m)
- Lowest APY in the last 213 days.
- Draw-down from High
- How far today sits below the 7-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: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewCIT Bank
APY: 4.00%
Total savings breakdown:
- Interest earned: $2,434.7 (11.91%)
- Total contributions: $13,000 (63.62%)
- Initial deposit: $5,000 (24.47%)
Your total balance
$20,434.70
Effective APY: 4.00% (based on your deposit and contributions)
Total balance: $20,434.7
Earnings: $2,434.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chase Bank's total earnings would be $2,429 lower than CIT Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 | 3.50% | $0 |
| Chase Bank vs Axos Bank | 4.46% | $0 |
| Chase Bank vs Bank of America | 0.01% | $100 |
| Chase Bank vs Barclays | 4.10% | $0 |
| Chase Bank vs Capital One | 3.50% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs Discover Bank | 3.50% | $0 |
| Chase Bank vs Fitness Bank | 4.85% | $100 |
| Chase Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chase Bank vs Presidential Bank | 4.50% | $5,000 |
| Chase Bank vs SoFi Bank | 3.80% | $0 |
| Chase Bank vs Synchrony Bank | 3.80% | $0 |
| Chase Bank vs UFB Direct | 4.21% | $5000 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
| Chase Bank vs Wells Fargo | 2.51% | $25 |
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 | 3.50% | $0 |
| CIT Bank vs Axos Bank | 4.46% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Barclays | 4.10% | $0 |
| CIT Bank vs Capital One | 3.50% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.50% | $0 |
| CIT Bank vs Fitness Bank | 4.85% | $100 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs Presidential Bank | 4.50% | $5,000 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs UFB Direct | 4.21% | $5000 |
| CIT Bank vs Varo Bank | 5.00% | $0 |
| CIT Bank vs Wells Fargo | 2.51% | $25 |