CIT Bank vs. Elevault
Elevault edges out CIT Bank slightly at 3.82% vs 3.75% APY. On a $10,000 balance, the difference is just $7 per year—so other factors may matter more.
The Bottom Line
The CIT Bank and Elevault savings accounts are very similar. Choose CIT Bank if you want a no-strings-attached account, mobile app quality matters, or you want Zelle for quick transfers.
| Metric | CIT BankPlatinum Savings Apr 21, 2026 | ElevaultHigh Yield Savings Account Apr 21, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.82% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$191 $10,000+$382 $25,000+$955 |
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%. | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.07% APY.
Executive Summary
Elevault offers a competitive High Yield Savings Account with an APY of 3.82%, which is higher than CIT Bank's Savings Connect at 3.65%. Both accounts are online-only and have no maintenance fees or minimum balance requirements, making them accessible options. However, CIT Bank also provides a Platinum Savings account with a tiered structure that offers 3.75% APY for balances over $5,000, but lower balances yield only 0.25%. Overall, Elevault's higher APY makes it the preferred choice for savers looking for the best return.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why CIT Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.8 vs 3.6)
- ✓Higher rated Android app (4.7 vs 3.9)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Elevault?
No distinct advantages found vs CIT Bank.
— Key Feature Differences —
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
CIT BankCIT Bank offers an iOS app rated 4.8 (vs. 3.6) and Android app rated 4.7 (vs. 3.9)
Shared Benefits
Over a 1-year period, Elevault's High Yield Savings Account pays $7 more interest on a $10,000 balance than CIT Bank's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
* Secure link to our partner
Non-sponsored link to official site
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CIT Bank vs. Elevault Savings Calculator
You earn $7 more with Elevault than CIT 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
Elevault
High Yield Savings Account
3.82% on first $250,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$382.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,382.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $374 per year in interest.
Both CIT Bank and Elevault dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | CIT Bank | Elevault |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 4/21/2026 Stable (90d) | 3.82% Verified: 4/21/2026 Stable (90d) |
| Product Name | Platinum Savings | High Yield Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None. You cannot make use of First Citizens Bank's branches. | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Supported for eChecking users post-First Citizens merger. | Not Supported |
| 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%. | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Elevault Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Elevault | |
|---|---|---|---|
| Savings Connect | Platinum Savings | High Yield Savings Account | |
Current APY | 3.65% | 3.75% | 3.82% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.0 | -3.0 | -10.8 |
Days Since Change | 152 | 152 | 126 |
8-Month High | 3.90% | 4.00% | 4.60% |
8-Month Low | 3.65% | 3.75% | 3.82% |
Adjustments / Mo | 0.23 | 0.23 | 0.35 |
Volatility Score | 0.024 | 0.023 | 0.071 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare CIT Bank's APY of 3.75% with other banks
Compare Elevault's APY of 3.82% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Elevault vs Ally Bank | 3.10% | $0 |
| Elevault vs American Express | 3.20% | $0 |
| Elevault vs Axos Bank | 4.21% | $0 |
| Elevault vs Barclays | 3.75% | $0 |
| Elevault vs Capital One | 3.20% | $0 |
| Elevault vs Chime | 3.00% | $0 |
| Elevault vs Discover Bank | 3.30% | $0 |
| Elevault vs EverBank | 3.90% | $0 |
| Elevault vs Marcus by Goldman Sachs | 3.50% | $0 |
| Elevault vs Newtek Bank | 4.20% | $0.01 |
| Elevault vs Openbank | 4.00% | $500 |
| Elevault vs Pibank | 4.40% | $0 |
| Elevault vs SoFi Bank | 4.00% | $0 |
| Elevault vs Synchrony Bank | 3.40% | $0 |
| Elevault vs Varo Bank | 5.00% | $0 |
| Elevault vs Wealthfront | 4.20% | $0 |