CIT Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 21, 2026 | Discover BankOnline Savings Account Jan 16, 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%. | Discover Bank is part of Capital One and this account is not open to new customers. |
| 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 4.20% APY.
Comparison Analysis
Comparing CIT Bank vs. Discover Bank
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to Discover Bank's 3.30% APY for its Online Savings Account, with a minimum balance of $0.
CIT Bank pays $45 more than Discover Bank on a $10,000 balance after one year. CIT Bank pays $375, while Discover Bank 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.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.30%)
- ✓Offers 2 different high-yield savings options
Why Discover Bank?
No distinct advantages found vs CIT Bank.
— 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 Discover Bank's Online 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 a competitive savings option with its Platinum Savings account, providing a 3.75% APY for balances of $5,000 or more, while lower balances earn 0.25%. This account is online-only and has no maintenance fees, making it suitable for those who can meet the balance requirement. Alternatively, CIT's Savings Connect account offers a straightforward 3.65% APY with no direct deposit requirement or balance caps. In comparison, Discover Bank's Online Savings Account, which is currently not open to new customers, offers a lower APY of 3.30%. Overall, CIT Bank stands out with higher APY options.
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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Top Market Contenders
CIT Bank vs. Discover Bank Savings Calculator
You earn $45 more with CIT Bank than Discover Bank 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
Discover Bank
Online Savings Account
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 | Discover Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 3.30% Verified: 1/16/2026 ↘︎ 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 Android4.6 | iOS4.9 Android4.8 |
| Zelle® Support | Available Supported for eChecking users post-First Citizens merger. | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| 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%. | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 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% | 3.30% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.6 | -4.9 | -3.5 |
Days Since Change | 62 | 62 | 13 |
12-Month High | 4.00% | 4.35% | 3.75% |
12-Month Low | 3.65% | 3.75% | 3.30% |
Adjustments / Mo | 0.25 | 0.41 | 0.41 |
Volatility Score | 0.036 | 0.046 | 0.037 |
How to read these metrics(Click to expand)
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