Chime vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 21, 2026 | CIT BankPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 0.25% - 3.75% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $0 | $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 InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | 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 4.20% APY.
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to CIT Bank's 3.75% APY for its Platinum Savings account, with a minimum balance of $5,000.
CIT Bank pays $25 more than Chime on a $10,000 balance after one year. Chime pays $350, while CIT Bank pays $375 - an APY advantage for CIT Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
Why Chime?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.50%)
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $350/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $875/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 $25 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
CIT Bank offers the highest APY with its Platinum Savings account at 3.75%, but it requires a minimum balance of $5,000 to earn this rate, while lower balances only yield 0.25%. Alternatively, the Savings Connect account provides a competitive APY of 3.65% with no minimum balance or direct deposit requirement, making it a simpler option. In contrast, Chime's High-Yield Savings Account offers a 3.50% APY but mandates a qualifying direct deposit of $200 or more within the last 34 days. Both banks operate online-only and have no maintenance fees.
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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Chime vs. CIT Bank Savings Calculator
You earn $25 more with CIT Bank than Chime 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.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
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 | Chime | CIT Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/21/2026 Stable (90d) | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Chime High-Yield Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0.01 | $5,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.8 Android4.6 |
| Zelle® Support | Not Supported | 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 Chime Non-sponsored link to official site | Visit SiteGo to CIT Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | CIT Bank | |
|---|---|---|---|
| Chime High-Yield Savings Account | Savings Connect | Platinum Savings | |
Current APY | 3.50% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 8.7 | -3.7 | -4.9 |
Days Since Change | 97 | 62 | 62 |
12-Month High | 3.75% | 4.00% | 4.35% |
12-Month Low | 2.00% | 3.65% | 3.75% |
Adjustments / Mo | 0.17 | 0.25 | 0.42 |
Volatility Score | 0.177 | 0.036 | 0.045 |
How to read these metrics(Click to expand)
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