CIT Bank vs. Citibank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 7, 2026 | CitibankCiti Accelerate Savings Jan 7, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.30% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $100 | $0 |
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%. | Eligibility restricted to select states. |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat 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 4.21% APY.
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to Citibank's 3.30% APY for its Citi Accelerate Savings account, with a minimum balance of $0.01.
CIT Bank pays $45 more than Citibank on a $10,000 balance after one year. CIT Bank pays $375, while Citibank pays $330 - 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, while Citibank offers 0.03% APY for the Citi® Savings Account account, with a minimum balance of $0.01.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.30%)
- ✓Offers 2 different high-yield savings options
- ✓Available Nationwide
Why Citibank?
- ✓Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
- ✓Higher rated Android app (4.8 vs 4.4)
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $330/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $825/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 $45 more interest on a $10,000 balance than Citibank's Citi Accelerate Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
CIT Bank offers a competitive Platinum Savings account with a high APY of 3.75%, which requires a minimum balance of $5,000 to earn this rate, while lower balances yield only 0.25%. Alternatively, their Savings Connect account provides a simpler option with a 3.65% APY and no balance requirement. In comparison, Citibank's top product, the Citi Accelerate Savings, offers a lower APY of 3.30% with a minimum balance of just $0.01, but eligibility is restricted to select states. Overall, CIT Bank's Platinum Savings stands out as the more lucrative option for savers with larger deposits.
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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CIT Bank vs. Citibank Savings Calculator
You earn $45 more with CIT Bank than Citibank 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.
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | Citibank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 3.30% Verified: 1/7/2026 ↘︎ 0.10%90d Change |
| Product Name | Platinum Savings | Citi Accelerate Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0 | $4.50. Waived for average monthly balances > $500 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.4 | iOS4.9 Android4.8 |
| Zelle® Support | Available Supported for eChecking users post-First Citizens merger. | Available Limit: $2,500/dayTiered limits based on account status (Citigold higher). |
| BBB Rating | A- | D- |
| 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%. | Eligibility restricted to select states. |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Citibank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Citibank | ||
|---|---|---|---|---|
| Savings Connect | Platinum Savings | Citi® Savings Account | Citi Accelerate Savings | |
Current APY | 3.65% | 3.75% | 0.03% | 3.30% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.7 | -5.0 | 0.0 | -4.8 |
Days Since Change | 48 | 48 | 344 | 50 |
11-Month High | 4.00% | 4.35% | 0.03% | 3.80% |
11-Month Low | 3.65% | 3.75% | 0.03% | 3.30% |
Adjustments / Mo | 0.26 | 0.44 | 0.00 | 0.52 |
Volatility Score | 0.035 | 0.044 | 0.000 | 0.047 |
How to read these metrics(Click to expand)
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