CIT Bank vs. LendingClub
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 21, 2026 | LendingClubLevelUp Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.00% - 4.00% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $100 | $0 |
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%. | The advertised "LevelUp Rate" APY of 4.00% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.00% applies. |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing CIT Bank vs. LendingClub
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to LendingClub's 4.00% APY for its LevelUp Savings account, with a minimum balance of $0.
LendingClub pays $25 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $375, while LendingClub pays $400 - an APY advantage for LendingClub.
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
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
Why LendingClub?
- ✓Higher potential APY (4.00% vs 3.65%-3.75%) on all balances
— Key Feature Differences —
Better Returns at $10,000
LendingClubLendingClub's LevelUp Savings earns more on smaller deposits (approx. $400 vs $375/yr).
Better Returns at $25,000
LendingClubLendingClub's LevelUp Savings pulls ahead with larger amounts (approx. $1000 vs $938/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, LendingClub's LevelUp Savings pays $25 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
LendingClub offers a competitive LevelUp Savings account with an APY of 4.00%, which is higher than CIT Bank's Savings Connect at 3.65%. The LevelUp Savings requires a monthly deposit of $250 to earn the advertised rate, while CIT Bank's Savings Connect has no such requirement, making it simpler for users. Both accounts are online-only and have no maintenance fees. For those with larger balances, LendingClub may provide better returns, especially at $10,000 and $25,000. However, CIT Bank's account is more accessible for those preferring no deposit conditions.
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. LendingClub Savings Calculator
You earn $25 more with LendingClub 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
LendingClub
LevelUp Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | LendingClub |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 4.00% Range: 3.00% - 4.00% Verified: 1/21/2026 ↘︎ 0.20%90d Change |
| Product Name | Platinum Savings | LevelUp Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| 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 Android4.6 | iOS4.8 Android4.8 |
| 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%. | The advertised "LevelUp Rate" APY of 4.00% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.00% applies. |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at LendingClub Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | LendingClub | |
|---|---|---|---|
| Savings Connect | Platinum Savings | LevelUp Savings | |
Current APY | 3.65% | 3.75% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.6 | -4.9 | -4.2 |
Days Since Change | 62 | 62 | 40 |
12-Month High | 4.00% | 4.35% | 4.50% |
12-Month Low | 3.65% | 3.75% | 4.00% |
Adjustments / Mo | 0.25 | 0.41 | 0.25 |
Volatility Score | 0.036 | 0.046 | 0.038 |
How to read these metrics(Click to expand)
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