CIT Bank vs. Neighbors Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 21, 2026 | Neighbors BankNeighbors Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 4.20% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
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%. | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat Android AppIn-Person Access |
Comparison Analysis
Comparing CIT Bank vs. Neighbors 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 Neighbors Bank's 4.20% APY for its Neighbors Savings Account, with a minimum balance of $0.
Neighbors Bank pays $45 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $375, while Neighbors Bank pays $420 - an APY advantage for Neighbors 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 iOS app (4.8 vs 3.3)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
Why Neighbors Bank?
- ✓Higher potential APY (4.20% vs 3.65%-3.75%) on all balances
- ✓Physical branch access (One location in Columbia, Missouri)
— Key Feature Differences —
Better Returns at $10,000
Neighbors BankNeighbors Bank's Neighbors Savings Account earns more on smaller deposits (approx. $420 vs $375/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1050 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. 3.3) and Android app rated 4.6 (vs. 4.4)
Shared Benefits
Over a 1-year period, Neighbors Bank's Neighbors Savings Account pays $45 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
Neighbors Bank offers the Neighbors Savings Account, which provides a competitive 4.20% APY on balances up to $250,000, making it the standout choice for savers. In contrast, CIT Bank's highest yielding product, the Platinum Savings account, offers 3.75% APY but requires a minimum balance of $5,000 to achieve this rate, with lower balances earning only 0.25%. Both banks have no maintenance fees and do not require direct deposit. However, Neighbors Bank is not available in Delaware, while CIT Bank operates online only. For those looking for higher returns, Neighbors Bank is the clear winner.
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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CIT Bank vs. Neighbors Bank Savings Calculator
You earn $45 more with Neighbors 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
Neighbors Bank
Neighbors Savings Account
4.20% on first $250,000 and 0.05% thereafter.
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | Neighbors Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 4.20% Verified: 1/21/2026 ↘︎ 0.30%90d Change |
| Product Name | Platinum Savings | Neighbors Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| 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 Android4.6 | iOS3.3 Android4.4 |
| 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%. | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Neighbors Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Neighbors Bank | |
|---|---|---|---|
| Savings Connect | Platinum Savings | Neighbors Savings Account | |
Current APY | 3.65% | 3.75% | 4.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -4.0 | -4.6 | -3.0 |
Days Since Change | 62 | 62 | 6 |
11-Month High | 4.00% | 4.30% | 4.75% |
11-Month Low | 3.65% | 3.75% | 4.20% |
Adjustments / Mo | 0.27 | 0.36 | 0.36 |
Volatility Score | 0.036 | 0.040 | 0.027 |
How to read these metrics(Click to expand)
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