CIT Bank vs. MutualOne Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 7, 2026 | MutualOne BankMo Premium Savings Jan 7, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 4.07% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$0 $10,000+$0 $25,000+$1,018 |
Min Deposit | $100 | $20,000 |
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 InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
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.
Comparison Analysis
Comparing CIT Bank vs. MutualOne Bank
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to MutualOne Bank's 4.07% APY for its Mo Premium Savings account, with a minimum balance of $20,000.
MutualOne Bank pays $32 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $375, while MutualOne Bank pays $407 - an APY advantage for MutualOne Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0, while MutualOne Bank offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why CIT Bank?
- ✓Offers 2 different high-yield savings options
Why MutualOne Bank?
- ✓Higher potential APY (4.07% vs 3.65%-3.75%)
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $0/yr).
Better Returns at $25,000
MutualOne BankMutualOne Bank's Mo Premium Savings pulls ahead with larger amounts (approx. $1018 vs $938/yr).
Best for Simplicity
MutualOne BankMutualOne Bank's Mo Premium Savings offers 4.07% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, MutualOne Bank's Mo Premium Savings pays $32 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
MutualOne Bank's Mo Premium Savings account stands out with a competitive APY of 4.07%, requiring a minimum deposit and balance of $20,000, making it ideal for larger savers. In comparison, CIT Bank offers the Platinum Savings account with a lower APY of 3.75%, which requires a minimum balance of $5,000 to earn this rate. CIT also provides a Savings Connect account with an APY of 3.65% for those with no minimum balance requirement. Both banks have no maintenance fees and do not require direct deposit, but MutualOne's offering is more favorable for higher balances.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
CIT Bank vs. MutualOne Bank Savings Calculator
You earn $64 more with MutualOne Bank than CIT Bank on a $20,000 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+$750.00(3.6%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,750.00
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | MutualOne Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.07% Verified: 1/7/2026 Stable (90d) |
| Product Name | Platinum Savings | Mo Premium Savings |
| Minimum Deposit | $100 | $20,000 |
| Min. Balance for APY | $5,000 | $20,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.4 | iOS4.9 Android4.4 |
| Zelle® Support | Available Supported for eChecking users post-First Citizens merger. | Available Verified via website and app descriptions. |
| 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 MutualOne Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | MutualOne Bank | ||
|---|---|---|---|---|
| Savings Connect | Platinum Savings | Online Savings | Mo Premium Savings | |
Current APY | 3.65% | 3.75% | 0.40% | 4.07% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -5.4 | -5.4 | 0.0 | -0.0 |
Days Since Change | 48 | 48 | 114 | 114 |
4-Month High | 3.90% | 4.00% | 0.40% | 4.07% |
4-Month Low | 3.65% | 3.75% | 0.40% | 4.07% |
Adjustments / Mo | 0.51 | 0.51 | 0.00 | 0.00 |
Volatility Score | 0.018 | 0.018 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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