CIT Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
CIT Bank
Platinum Savings
Up to3.75%APYDec 6, 2025FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppRange: 0.25% – 3.75%Show Fine Print & Trends Hide Details
CIT Bank
Platinum Savings
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing CIT Bank vs. Discover Bank
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.40%)
- ✓Offers 2 different high-yield savings options
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 4.3)
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $340/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $850/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 $35 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
Executive Summary
CIT Bank offers a superior savings option with its Platinum Savings account, featuring an APY of 3.75%, which is significantly higher than Discover Bank's Online Savings Account at 3.40%. CIT Bank's Platinum Savings also provides better returns on larger deposits, making it an attractive choice for savers. Additionally, CIT's Savings Connect account, with a 3.65% APY, serves as a simpler alternative with no direct deposit requirement. Both banks operate online-only, and neither has maintenance fees or minimum balance requirements for their accounts.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both CIT Bank and Discover Bank.
| Feature | CIT Bank | Discover Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change |
| Product Name | Platinum Savings | Online Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.3 | iOS4.9 Android4.8 |
| BBB Rating | A- | A+ |
| Next Steps |
Savings Comparison
CIT Bank earns $223.3 more than Discover Bank.
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$2,273.80(11.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,273.80
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Discover Bank | |
|---|---|---|---|
| Savings Connect | Platinum Savings | Online Savings Account | |
Current APY | 3.65% | 3.75% | 3.40% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -5.0 | -3.8 |
Days Since Change | 16 | 16 | 67 |
10-Month High | 4.00% | 4.35% | 3.75% |
10-Month Low | 3.65% | 3.75% | 3.40% |
Adjustments / Mo | 0.28 | 0.47 | 0.38 |
Volatility Score | 0.030 | 0.041 | 0.035 |
How to read these metrics(Click to expand)
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