Cit Bank vs. Ivy Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of CIT Bank vs. Ivy Bank
Key Metrics at a Glance
| Feature | CIT Bank | Ivy Bank |
|---|---|---|
| Top Savings APY | 3.85% Platinum Savings | 4.25% High-Yield Savings Account |
| Minimum to Open | $100 | $2,500 |
| Minimum Balance for Top APY | $5,000 | $2,500 |
CIT Bank
Strengths
- CIT Bank's Platinum Savings offers an APY of 3.85%, consistent over the last 30 days.
- CIT Bank has a higher App Store rating of 4.8 compared to Ivy Bank's 4.7.
- CIT Bank has no maintenance fees for both savings accounts.
Potential Drawbacks
- CIT Bank's highest APY of 3.85% is lower than Ivy Bank's 4.25%.
- CIT Bank requires a minimum balance of $5,000 for its Platinum Savings account.
Ivy Bank
Strengths
- Ivy Bank's High-Yield Savings Account offers a competitive APY of 4.25%.
- Ivy Bank has no minimum balance requirement for its High-Yield Savings Account.
Potential Drawbacks
- Ivy Bank has a lower Google Play rating of 3.5 compared to CIT Bank's 4.3.
- Ivy Bank does not have a higher APY compared to CIT Bank's Platinum Savings.
→ 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 Ivy Bank's 4.25% APY for its High-Yield Savings Account, with a minimum balance of $2,500.
→ Ivy Bank yields $40 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $385, while Ivy Bank pays $425 - an APY advantage for Ivy Bank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.
Calculate Savings Growth for CIT Bank vs Ivy 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 OverviewIvy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $258.8 lower than Ivy 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 Ivy Bank's Savings Accounts
| CIT Bank | Ivy Bank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | High-Yield Savings Account |
| APY | 0.25% - 3.85% (as of 11/12/2025) | 3.75% (as of 11/12/2025) | 0.05% - 4.25% (as of 11/12/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $2,500 | |
| Minimum Balance for APY | $5,000 | $0 | $2,500 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| Eligibility | United States | United States | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | |
| App Store Rating | 4.8/5 | 4.7/5 | ||
| Google Play Rating | 4.3/5 | 3.5/5 | ||
| BBB Rating | A- | A- | ||
No historical data available.