Cit Bank vs. Elevault

High-Yield Savings Account Comparison

By Aviel Fahl|Last Updated: October 21, 2025

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Summary of CIT Bank vs. Elevault

Key Metrics at a Glance

FeatureCIT BankElevault
Top Savings APY

3.85%

Platinum Savings

4.34%

High Yield Savings Account

Minimum to Open$100$0
Minimum Balance for Top APY$5,000$0
NoteThe 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.

CIT Bank

Strengths

  • CIT Bank's Platinum Savings offers a competitive APY of 3.85%.
  • CIT Bank has a high App Store rating of 4.8.
  • CIT Bank has no maintenance fees on its savings accounts.

Potential Drawbacks

  • CIT Bank's APY decreased from 4.00% to 3.85% in the last 30 days.
  • CIT Bank's BBB rating is A-, not accredited.
  • CIT Bank requires a minimum balance of $5,000 for its highest APY.

Elevault

Strengths

  • Elevault offers a higher APY of 4.34% for its High Yield Savings Account.
  • Elevault has a better BBB rating of A+.
  • Elevault has no minimum balance requirement for its savings account.

Potential Drawbacks

  • Elevault's APY decreased from 4.60% to 4.34% in the last 30 days.
  • Elevault has a lower App Store rating of 3.8.
  • Elevault has no physical branches available.
Summary: CIT Bank offers a lower APY of 3.85% compared to Elevault's 4.34%, but requires a higher minimum balance. Elevault has a superior BBB rating of A+, while CIT Bank's rating is A-. Both banks have no maintenance fees, but CIT Bank has a higher App Store rating. However, both banks saw a decrease in APY over the past month.

→ As of October 21, 2025 CIT Bank offers an APY of 3.85% for its Platinum Savings account, with a minimum balance of $5,000, compared to Elevault's 4.34% APY for its High Yield Savings Account, with a minimum balance of $0.

Elevault yields $49 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $385, while Elevault pays $434 - an APY advantage for Elevault.

→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.

Calculate Savings Growth for CIT Bank vs Elevault

All calculations are based on APY.

CIT Bank - Platinum Savings

Top APY: 3.85%

Total savings breakdown:

  • Interest earned: $2,338 (11.50%)
  • Total contributions: $13,000 (63.92%)
  • Initial deposit: $5,000 (24.58%)

Your total balance

$20,338.00

Effective APY: 3.85% (based on your deposit and contributions)

Total balance: $20,338

Earnings: $2,338

Bank Overview

Elevault - High Yield Savings Account

Top APY: 4.34%

Total savings breakdown:

  • Interest earned: $2,655.5 (12.86%)
  • Total contributions: $13,000 (62.94%)
  • Initial deposit: $5,000 (24.21%)

Your total balance

$20,655.50

Effective APY: 4.34% (based on your deposit and contributions)

Total balance: $20,655.5

Earnings: $2,655.5

Bank Overview

With a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $317.5 lower than Elevault's total earnings.

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Compare CIT Bank's vs Elevault's Savings Accounts

CIT BankElevault
ProductPlatinum SavingsSavings ConnectvsHigh Yield Savings Account
APY
0.25% - 3.85% (as of 10/21/2025)3.75% (as of 10/21/2025)4.34% (as of 10/21/2025)
Bundled Account
NoNoNo
FDIC-insured
YesYesYes
Online OnlyYesYesYes
Compound Frequency
DailyDailyDaily
Minimum Deposit$100$100$0
Minimum Balance for APY$5,000$0$0
Maintenance Fee$0$0$0
Direct Deposit Required
NoNoNo
NoteThe 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.
App Store Rating4.8/53.8/5
Google Play Rating4.3/53.9/5
BBB RatingA-A+

Comparative Historical APY Insights (Last 2 Months)

CIT BankElevault
ProductSavings ConnectPlatinum SavingsvsHigh Yield Savings Account
Latest APY3.75 %3.85 %4.34 %
TrendFallingFallingFalling
Slope (bps/mo)-8.3-8.3-14.7
Rate Changes / Mo0.390.390.39
Days Since Last Change282829
High (-2 m)3.90 %4.00 %4.60 %
Low (-2 m)3.75 %3.85 %4.34 %
Draw-down from High-3.8 %-3.7 %-5.7 %
Volatility (CV)0.0190.0190.028
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 2 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-2 m)
Highest APY in the last 76 days.
Low (-2 m)
Lowest APY in the last 76 days.
Draw-down from High
How far today sits below the 2-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

More Comparisons

Compare CIT Bank's APY of 3.85% with other banks
Compare Elevault's APY of 4.34% with other banks