Cit Bank vs. Everbank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of CIT Bank vs. EverBank
Key Metrics at a Glance
| Feature | CIT Bank | EverBank |
|---|---|---|
| Top Savings APY | 3.85% Platinum Savings | 4.05% Performance Savings |
| Minimum to Open | $100 | $0 |
| Minimum Balance for Top APY | $5,000 | $0 |
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 minimum balance requirement for its Savings Connect account.
Potential Drawbacks
- CIT Bank's current APY decreased from 4.00% in the last 30 days.
- CIT Bank has no physical branches for in-person banking.
- CIT Bank's BBB rating is A- and it is not accredited.
EverBank
Strengths
- EverBank offers a higher APY of 4.05% for its Performance Savings account.
- EverBank has 11 physical branches in Florida and California.
- EverBank's BBB rating is A+, indicating higher trustworthiness.
Potential Drawbacks
- EverBank has a low App Store rating of 2.3.
- EverBank has a low Google Play rating of 1.8.
- EverBank does not offer a higher APY than 4.05%.
→ 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 EverBank's 4.05% APY for its Performance Savings account, with a minimum balance of $0.
→ EverBank yields $20 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $385, while EverBank pays $405 - an APY advantage for EverBank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.
Calculate Savings Growth for CIT Bank vs EverBank
CIT Bank - Platinum Savings
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
Total balance: $20,338
Earnings: $2,338
Bank OverviewEverBank - Performance Savings
Total savings breakdown:
- Interest earned: $2,467 (12.05%)
- Total contributions: $13,000 (63.52%)
- Initial deposit: $5,000 (24.43%)
Your total balance
$20,467.00
Total balance: $20,467
Earnings: $2,467
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $129 lower than EverBank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare CIT Bank's vs EverBank's Savings Accounts
| CIT Bank | EverBank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | Performance Savings |
| APY | 0.25% - 3.85% (as of 10/21/2025) | 3.75% (as of 10/21/2025) | 4.05% (as of 10/21/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $0 | |
| Minimum Balance for APY | $5,000 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| App Store Rating | 4.8/5 | 2.3/5 | ||
| Google Play Rating | 4.3/5 | 1.8/5 | ||
| BBB Rating | A- | A+ | ||
Comparative Historical APY Insights (Last 10 Months)
| CIT Bank | EverBank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Performance Savings |
| Latest APY | 3.75 % | 3.85 % | 4.05 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -2.5 | -5.1 | -1.9 | |
| Rate Changes / Mo | 0.20 | 0.49 | 0.29 | |
| Days Since Last Change | 28 | 28 | 32 | |
| High (-10 m) | 4.00 % | 4.55 % | 4.75 % | |
| Low (-10 m) | 3.75 % | 3.85 % | 4.05 % | |
| Draw-down from High | -6.3 % | -15.4 % | -14.7 % | |
| Volatility (CV) | 0.020 | 0.038 | 0.021 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 307 days.
- Low (-10 m)
- Lowest APY in the last 307 days.
- Draw-down from High
- How far today sits below the 10-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.