CIT Bank vs. Ivy Bank
Comparing CIT Bank and Ivy Bank for high-yield savings: CIT Bank's Platinum Savings pays 3.75% APY while Ivy Bank's High-Yield Savings Account pays 3.85% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Ivy Bank pays $10 more than CIT Bank annually ($385 vs $375).
Choose CIT Bank if you're an Android user, or you want Zelle for quick transfers.
| Metric | CIT BankPlatinum Savings Apr 7, 2026 | Ivy BankHigh-Yield Savings Account Apr 7, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 0.05% - 3.85% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$193 $10,000+$385 $25,000+$963 |
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® SupportedDaily CompoundingRate Changes Often | FDIC InsuredMod. MinimumGreat iOS AppDaily 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 4.15% APY.
Executive Summary
Ivy Bank's High-Yield Savings Account stands out with a competitive 3.85% APY, making it the winner in this comparison. This account requires a minimum deposit and balance of $2,500, and is available online only, with no maintenance fees. In contrast, CIT Bank offers the Savings Connect account with a slightly lower APY of 3.65%, which has no balance requirements or fees, making it a simpler option. However, Ivy Bank's account is limited to residents outside California and U.S. Territories, excluding the District of Columbia.
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 Android app (4.7 vs 3.4)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
Why Ivy Bank?
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. 4.6) and Android app rated 4.7 (vs. 3.4)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $10 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
Top Market Contenders
CIT Bank vs. Ivy Bank Savings Calculator
You earn $10 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+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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 Ivy Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | CIT Bank | Ivy Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 4/7/2026 Stable (90d) | 3.85% Range: 0.05% - 3.85% Verified: 4/7/2026 ↘︎ 0.25%90d Change |
| 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 |
| 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. | None |
| 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%. | - |
| 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% | 3.85% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -0.6 | -0.6 | -10.4 |
Days Since Change | 138 | 138 | 48 |
5-Month High | 3.75% | 3.85% | 4.25% |
5-Month Low | 3.65% | 3.75% | 3.85% |
Adjustments / Mo | 0.21 | 0.21 | 0.62 |
Volatility Score | 0.006 | 0.006 | 0.038 |
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 Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.20% | $0 |
| Ivy Bank vs American Express | 3.20% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Barclays | 3.85% | $0 |
| Ivy Bank vs Capital One | 3.20% | $0 |
| Ivy Bank vs Chime | 3.00% | $0 |
| Ivy Bank vs Discover Bank | 3.30% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $0.01 |
| Ivy Bank vs Openbank | 4.00% | $500 |
| Ivy Bank vs Pibank | 4.60% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.50% | $0 |
| Ivy Bank vs Varo Bank | 5.00% | $0 |
| Ivy Bank vs Wealthfront | 4.20% | $0 |