CIT Bank vs. Ivy Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 7, 2026 | Ivy BankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 0.05% - 4.10% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$205 $10,000+$410 $25,000+$1,025 |
Min Deposit | $100 | $2,500 |
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%. | - |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredMod. MinimumGreat iOS App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to Ivy Bank's 4.10% APY for its High-Yield Savings Account, with a minimum balance of $2,500.
Ivy Bank pays $35 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $375, while Ivy Bank pays $410 - an APY advantage for Ivy Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
Why CIT Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.4 vs 3.5)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
Why Ivy Bank?
- ✓Higher potential APY (4.10% vs 3.65%-3.75%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $410 vs $375/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1025 vs $938/yr).
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. 4.7) and Android app rated 4.4 (vs. 3.5)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $35 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.
Executive Summary as of
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 4.10%, making it the top choice for savers seeking higher returns. This account requires a minimum deposit and balance of $2,500, and is available online only, with eligibility restrictions for residents of California and U.S. Territories (excluding D.C.). In comparison, CIT Bank's Platinum Savings account provides a lower APY of 3.75% but requires a higher minimum balance of $5,000 to earn this rate. CIT also offers a Savings Connect account with a 3.65% APY, which has no minimum balance requirement, making it a simpler option for those who may not meet the higher balance needed for the Platinum Savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
* Secure link to our partner
Non-sponsored link to official site
Top Market Contenders
CIT Bank vs. Ivy Bank Savings Calculator
You earn $35 more with Ivy Bank 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
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$410.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,410.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | Ivy Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.10% Range: 0.05% - 4.10% Verified: 1/7/2026 - |
| Product Name | Platinum Savings | High-Yield Savings Account |
| Minimum Deposit | $100 | $2,500 |
| Min. Balance for APY | $5,000 | $2,500 |
| 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 Android4.4 | iOS4.7 Android3.5 |
| 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%. | - |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Ivy Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Ivy Bank | |
|---|---|---|---|
| Savings Connect | Platinum Savings | High-Yield Savings Account | |
Current APY | 3.65% | 3.75% | 4.10% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.2 | -3.2 | -11.9 |
Days Since Change | 48 | 48 | 22 |
2-Month High | 3.75% | 3.85% | 4.25% |
2-Month Low | 3.65% | 3.75% | 4.10% |
Adjustments / Mo | 0.55 | 0.55 | 0.55 |
Volatility Score | 0.009 | 0.008 | 0.018 |
How to read these metrics(Click to expand)
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