Cit Bank vs Neighbors Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of CIT Bank vs. Neighbors Bank
As of September 5, 2025 CIT Bank offers an APY of 4.00% for its Platinum Savings account, with a minimum balance of $5,000, compared to Neighbors Bank's 4.60% APY for its Neighbors Savings Account, with a minimum balance of $0.
Neighbors Bank yields $60 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $400, while Neighbors Bank pays $460 - an APY advantage for Neighbors Bank.
In addition, CIT Bank also offers 3.90% APY for the Savings Connect account.
CIT Bank
Strengths
- CIT Bank's Platinum Savings offers a competitive APY of 4.00%.
- CIT Bank has a higher App Store rating of 4.8 compared to Neighbors Bank's 3.3.
- CIT Bank has no maintenance fees on its accounts.
Potential Drawbacks
- CIT Bank has no physical branches for in-person banking.
- CIT Bank's Platinum Savings requires a minimum balance of $5,000.
Neighbors Bank
Strengths
- Neighbors Bank's Neighbors Savings Account offers a higher APY of 4.60%.
- Neighbors Bank has a physical branch in Columbia, Missouri.
Potential Drawbacks
- Neighbors Bank has a lower App Store rating of 3.3 compared to CIT Bank.
- Balances above $250,000 earn a significantly lower APY of 0.05%.
Summary: CIT Bank offers a 4.00% APY on its Platinum Savings account, while Neighbors Bank provides a higher 4.60% APY on its Neighbors Savings Account. However, CIT Bank has no branches and requires a $5,000 minimum balance, whereas Neighbors Bank has a physical location and no minimum balance requirement. CIT Bank also boasts a better App Store rating, but Neighbors Bank's APY is more attractive for lower balance holders.
Compare CIT Bank's vs Neighbors Bank's Savings Accounts
| CIT Bank | Neighbors Bank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | Neighbors Savings Account |
| APY | 0.25% - 4.00% (as of 9/5/2025) | 3.90% (as of 9/5/2025) | 4.60% (as of 9/5/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | |
| Compound Frequency | Daily | Daily | N/A | |
| Minimum Deposit | $100 | $100 | $0 | |
| Minimum Balance for APY | $5,000 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| Eligibility | United States | United States | Not available in Delaware. | |
| Note | Balances up to $250,000 earn 4.60% APY. Anything above will earn 0.05% APY. | |||
| App Store Rating | 4.8/5 | 3.3/5 | ||
| Google Play Rating | 4.6/5 | 4.3/5 | ||
| BBB Rating | A- | A+ | ||
Comparative Historical APY Insights (Last 6 Months)
| CIT Bank | Neighbors Bank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Neighbors Savings Account |
| Latest APY | 3.90 % | 4.00 % | 4.60 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -2.3 | -4.2 | -0.9 | |
| Rate Changes / Mo | 0.16 | 0.31 | 0.16 | |
| Days Since Last Change | 85 | 85 | 177 | |
| High (-6 m) | 4.00 % | 4.30 % | 4.75 % | |
| Low (-6 m) | 3.90 % | 4.00 % | 4.60 % | |
| Draw-down from High | -2.5 % | -7.0 % | -3.2 % | |
| Volatility (CV) | 0.013 | 0.023 | 0.008 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-6 m)
- Highest APY in the last 191 days.
- Low (-6 m)
- Lowest APY in the last 191 days.
- Draw-down from High
- How far today sits below the 6-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for CIT Bank vs Neighbors Bank
All calculations are based on APY.
CIT Bank
APY: 4.00%
Total savings breakdown:
- Interest earned: $2,434.7 (11.91%)
- Total contributions: $13,000 (63.62%)
- Initial deposit: $5,000 (24.47%)
Your total balance
$20,434.70
Effective APY: 4.00% (based on your deposit and contributions)
Total balance: $20,434.7
Earnings: $2,434.7
Bank OverviewNeighbors Bank
APY: 4.60%
Total savings breakdown:
- Interest earned: $2,825.8 (13.57%)
- Total contributions: $13,000 (62.42%)
- Initial deposit: $5,000 (24.01%)
Your total balance
$20,825.80
Effective APY: 4.60% (based on your deposit and contributions)
Total balance: $20,825.8
Earnings: $2,825.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $391.1 lower than Neighbors Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare CIT Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| CIT Bank vs Ally Bank | 3.50% | $0 |
| CIT Bank vs American Express | 3.50% | $0 |
| CIT Bank vs Axos Bank | 4.46% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Barclays | 4.10% | $0 |
| CIT Bank vs BrioDirect | 4.30% | $5,000 |
| CIT Bank vs Capital One | 3.50% | $0 |
| CIT Bank vs Chase Bank | 0.01% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.50% | $0 |
| CIT Bank vs Elevault | 4.60% | $0 |
| CIT Bank vs EverBank | 4.30% | $0 |
| CIT Bank vs Fitness Bank | 4.75% | $100 |
| CIT Bank vs FVCbank | 4.35% | $500 |
| CIT Bank vs GO2bank | 4.50% | $0 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs Newtek Bank | 4.35% | $0 |
| CIT Bank vs Peak Bank | 4.35% | $100 |
| CIT Bank vs Pibank | 4.60% | $0 |
| CIT Bank vs Presidential Bank | 4.50% | $5,000 |
| CIT Bank vs Santander Bank | 0.03% | $25 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs TIMBR | 4.40% | $1,000 |
| CIT Bank vs UFB Direct | 4.21% | $5000 |
| CIT Bank vs Varo Bank | 5.00% | $0 |
| CIT Bank vs Wells Fargo | 2.51% | $25 |
| CIT Bank vs Zynlo Bank | 4.35% | $10 |