Cit Bank vs. Forbright Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of CIT Bank vs. Forbright Bank
Key Metrics at a Glance
| Feature | CIT Bank | Forbright Bank |
|---|---|---|
| Top Savings APY | 3.85% Platinum Savings | 4.00% Growth 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%.
- No maintenance fees for CIT Bank accounts.
- CIT Bank has a high App Store rating of 4.8.
Potential Drawbacks
- CIT Bank has no physical branches available.
- CIT Bank's BBB rating is A- and not accredited.
- CIT Bank's lower APY is 0.25%.
Forbright Bank
Strengths
- Forbright Bank's Growth Savings offers a higher APY of 4.00%.
- Forbright Bank is BBB accredited with an A+ rating.
- Forbright Bank has a Google Play rating of 4.6.
Potential Drawbacks
- Forbright Bank requires a minimum deposit of $250 for Bright Savings.
- Forbright Bank's Sprout Savings has a cap on the highest APY.
- Forbright Bank's lower APY is 2.75%.
→ As of November 12, 2025 CIT Bank offers an APY of 3.85% for its Platinum Savings account, with a minimum balance of $5,000, compared to Forbright Bank's 4.00% APY for its Growth Savings account, with a minimum balance of $0.
→ Forbright Bank yields $15 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $385, while Forbright Bank pays $400 - an APY advantage for Forbright Bank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account, while Forbright Bank offers 3.65% APY for the Bright Savings account.
Calculate Savings Growth for CIT Bank vs Forbright Bank
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 OverviewForbright Bank - Growth Savings
Total savings breakdown:
- Interest earned: $2,434.7 (11.91%)
- Total contributions: $13,000 (63.62%)
- Initial deposit: $5,000 (24.47%)
Your total balance
$20,434.70
Total balance: $20,434.7
Earnings: $2,434.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $96.7 lower than Forbright Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare CIT Bank's vs Forbright Bank's Savings Accounts
| CIT Bank | Forbright Bank | |||||
|---|---|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | Growth Savings | Bright Savings | Sprout Savings |
| APY | 0.25% - 3.85% (as of 11/12/2025) | 3.75% (as of 11/12/2025) | 4.00% (as of 11/12/2025) | 2.75% - 3.65% (as of 11/12/2025) | 0.80% - 3.65% (as of 11/12/2025) | |
| Bundled Account | No | No | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | No | No | |
| Compound Frequency | Daily | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $0 | $250 | $1 | |
| Minimum Balance for APY | $5,000 | $0 | $0 | $250,000 | $0.01 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | No | No | |
| Eligibility | United States | United States | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This account is for children under 18 years old, where the account custodian is an existing customer. It must be opened in a Forbright branch (Washington, D.C. metro area) | |
| Note | This is a tiered savings account, where the highest rate is obtained by meeting a minimum balance of $250,000. A lower APY of 2.75% may be obtained with as little as $0.01 in balance. See bank for more details and all tiers. | This is a tiered savings account, where the highest rate is capped at a balance of $9,999. A lower APY of 0.80% is applied to balances above that. See bank for more details. | ||||
| App Store Rating | 4.8/5 | 4.8/5 | ||||
| Google Play Rating | 4.3/5 | 4.6/5 | ||||
| BBB Rating | A- | A+ | ||||
Comparative Historical APY Insights (Last 11 Months)
| CIT Bank | Forbright Bank | |||||
|---|---|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Sprout Savings | Bright Savings | Growth Savings |
| Latest APY | 3.75 % | 3.85 % | 3.65 % | 3.65 % | 4.00 % | |
| Trend | Sideways | Falling | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -2.8 | -5.0 | -2.7 | -2.7 | -2.3 | |
| Rate Changes / Mo | 0.18 | 0.45 | 0.09 | 0.09 | 0.18 | |
| Days Since Last Change | 51 | 51 | 43 | 43 | 35 | |
| High (-11 m) | 4.00 % | 4.55 % | 3.90 % | 3.90 % | 4.60 % | |
| Low (-11 m) | 3.75 % | 3.85 % | 3.65 % | 3.65 % | 4.00 % | |
| Draw-down from High | -6.3 % | -15.4 % | -6.4 % | -6.4 % | -13.0 % | |
| Volatility (CV) | 0.024 | 0.040 | 0.026 | 0.026 | 0.026 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 11 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 (-11 m)
- Highest APY in the last 330 days.
- Low (-11 m)
- Lowest APY in the last 330 days.
- Draw-down from High
- How far today sits below the 11-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.