High-Yield Savings Account Comparison

CIT Bank vs. Newtek Bank

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 6, 2025
Advertising Disclosure: We may earn a commission from partner links.

CIT Bank

Platinum Savings

Up to
3.75%
APY
Dec 6, 2025
FDIC InsuredMod. MinimumGreat iOS AppGreat Android App
Range: 0.25% – 3.75%
Show Fine Print & Trends
Min. Deposit$100
Min. Balance$5,000
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 11063)
EligibilityUnited States
Mobile Ratings
iOS:4.8Android:4.3
BBB Rating
A-(Not BBB Accredited (Information provided is for First Citizens Bank & Trust Company))

Rate Stability

30 days
↘︎ 0.10%
90 days
↘︎ 0.25%
Read Bank Overview

Newtek Bank

Personal High Yield Savings

4.35%
APY
Dec 6, 2025
FDIC InsuredNo MinimumsGreat iOS AppGreat Android App
Show Fine Print & Trends
Min. Deposit$0.01
Min. Balance$0.01
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 18734)
EligibilityUnited States
Mobile Ratings
iOS:4.5Android:4.2
BBB Rating
A+(BBB Accredited)

Rate Stability

Very StableNo rate changes in last 90 days
Read Bank Overview

Prefer In-Person Banking?

Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.

Find Branch Access

Comparison Analysis

Comparing CIT Bank vs. Newtek Bank

Updated: Dec 6, 2025

Why CIT Bank?

  • ✓Higher rated iOS app (4.8 vs 4.5)
  • ✓Offers 2 different high-yield savings options

Why Newtek Bank?

  • ✓Higher potential APY (4.35% vs 3.65%-3.75%) on all balances

— Key Feature Differences —

Better Returns at $10,000
Newtek Bank

Newtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $375/yr).

Better Returns at $25,000
Newtek Bank

Newtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1087 vs $938/yr).

Best for Simplicity
Newtek Bank

Newtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.

Best Mobile App Experience
CIT Bank

CIT Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.3 (vs. 4.2)

Shared Benefits

Both offer monthly maintenance-free account options Available Nationwide Available to New & Existing Customers
The Bottom Line

Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $60 more interest on a $10,000 balance than CIT Bank's Platinum Savings.

CIT BankNewtek Bank
Automated Data Audit

Executive Summary

Newtek Bank stands out with its Personal High Yield Savings account, offering a competitive APY of 4.35%. This account requires a minimum deposit and balance of just $0.01, making it accessible for new savers. In contrast, CIT Bank's Platinum Savings account provides a lower APY of 3.75% with a higher minimum deposit of $100 and a minimum balance of $5,000. While CIT Bank offers a solid mobile app experience, Newtek Bank is noted for its simplicity, with no direct deposit requirement and no maintenance fees. Both banks operate online only.

Analysis generated based on current Banksparency database records

* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.

ExploreCIT BankExploreNewtek Bank

Top Market Contenders

See who beats both CIT Bank and Newtek Bank.

Compare All High-Yield Savings Accounts
Pibank
Pibank Savings
FDIC InsuredNo Minimums
4.60% APY
+0.25% vs Newtek Bank
Better Rate
Pibank vs CIT BankPibank vs Newtek Bank
Neighbors Bank
Neighbors Savings Account
FDIC InsuredNo MinimumsGreat Android App
4.50% APY
+0.15% vs Newtek Bank
Better Rate
Neighbors Bank vs CIT BankNeighbors Bank vs Newtek Bank
TIMBR
Premium Savings Account
FDIC InsuredLow Minimums
4.40% APY
+0.05% vs Newtek Bank
Better Rate
TIMBR vs CIT BankTIMBR vs Newtek Bank
FeatureCIT BankNewtek Bank
APY
3.75%
Range: 0.25% - 3.75%
Verified: 12/6/2025
↘︎ 0.25%90d Change
4.35%
Verified: 12/6/2025
Stable (90d)
Product NamePlatinum SavingsPersonal High Yield Savings
Minimum Deposit$100$0.01
Min. Balance for APY$5,000$0.01
Monthly Fee$0$0
Branch AccessNoneNone
Account Type
Online Only
Online Only
Direct Deposit Req.NoneNone
Checking BundleNoNo
Mobile Apps
iOS4.8
Android4.3
iOS4.5
Android4.2
BBB RatingA-A+
Next Steps
- View Details
- View Details

Savings Comparison

Calculations based on current APY.
$
$

Newtek Bank earns $388.2 more than CIT Bank.

CIT Bank

Platinum Savings

3.75% APY

Savings Breakdown

  • Interest Earned
    +$2,273.80(11.2%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,273.80

Effective APY
3.75%
View Details

Newtek Bank

Personal High Yield Savings

4.35% APY

Savings Breakdown

  • Interest Earned
    +$2,662.00(12.9%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,662.00

Effective APY
4.35%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

📈 Compare Savings Rates Over Time

Historical Performance

Last 12 Months Analysis
MetricCIT BankNewtek Bank
Savings ConnectPlatinum SavingsPersonal High Yield Savings
Current APY
3.65%3.75%4.35%
Trend
 Stable Stable Stable
Velocity (bps/mo)
-3.2-5.1-2.0
Days Since Change
1616239
12-Month High
4.00%4.55%4.90%
12-Month Low
3.65%3.75%4.35%
Adjustments / Mo
0.250.510.34
Volatility Score
0.0300.0450.022
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 354-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Compare Similar High-Yield Accounts

Compare CIT Bank vs...

Comparing against Standard Savings

vs CIT Bank
PibankNo Bundle Req
4.60%
APY
vs CIT Bank
Neighbors BankNo Bundle Req
4.50%
APY
vs CIT Bank
TIMBRNo Bundle Req
4.40%
APY

Compare Newtek Bank vs...

Comparing against Standard Savings

vs Newtek Bank
PibankNo Bundle Req
4.60%
APY
vs Newtek Bank
Neighbors BankNo Bundle Req
4.50%
APY
vs Newtek Bank
TIMBRNo Bundle Req
4.40%
APY

Higher Rates (With Checking)

Looking for something different? Check out these top-rated alternatives.

Checking Bundle
Axos Bank View Details
4.31%
APY
Checking Bundle
SoFi Bank View Details
4.30%
APY
Checking Bundle
Presidential Bank View Details
4.00%
APY

More Comparisons

Compare CIT Bank's APY of 3.75% with other banks
Bank PairCompetitor APYMin Deposit
CIT Bank vs Ally Bank3.30%$0
CIT Bank vs American Express3.40%$0
CIT Bank vs Axos Bank4.31%$0
CIT Bank vs Bank of America0.01%$100
CIT Bank vs Barclays4.00%$0
CIT Bank vs Bask Bank3.90%$0
CIT Bank vs BMO Alto3.25%$0
CIT Bank vs BrioDirect4.00%$5,000
CIT Bank vs Capital One3.40%$0
CIT Bank vs Chase Bank0.01%$0
CIT Bank vs Chime3.50%$0
CIT Bank vs Citibank3.30%$0
CIT Bank vs Citizens Access™3.35%$0.01
CIT Bank vs Climate First Bank4.21%$50
CIT Bank vs Discover Bank3.40%$0
CIT Bank vs Elevault4.08%$0
CIT Bank vs EverBank4.05%$0
CIT Bank vs Fitness Bank4.75%$100
CIT Bank vs FNBO Direct3.00%$1
CIT Bank vs Forbright Bank4.00%$0
CIT Bank vs FVCbank3.85%$500
CIT Bank vs GO2bank4.50%$0
CIT Bank vs Ivy Bank4.25%$2,500
CIT Bank vs LendingClub4.20%$0
CIT Bank vs Marcus by Goldman Sachs3.65%$0
CIT Bank vs Neighbors Bank4.50%$0
CIT Bank vs Openbank4.20%$500
CIT Bank vs Peak Bank4.20%$100
CIT Bank vs Pibank4.60%$0
CIT Bank vs PNC3.53%$0
CIT Bank vs Presidential Bank4.00%$5,000
CIT Bank vs Quontic Bank3.75%$100
CIT Bank vs Salem Five Direct3.71%$10
CIT Bank vs Santander Bank0.01%$25
CIT Bank vs SoFi Bank4.30%$0
CIT Bank vs Synchrony Bank3.65%$0
CIT Bank vs TIMBR4.40%$1,000
CIT Bank vs UFB Direct3.71%$5000
CIT Bank vs Valley Direct4.10%$1,000
CIT Bank vs Varo Bank5.00%$0
CIT Bank vs Vio Bank4.16%$100
CIT Bank vs Wealthfront4.15%$0
CIT Bank vs Wells Fargo0.05%$25
CIT Bank vs Zynlo Bank4.05%$10
Compare Newtek Bank's APY of 4.35% with other banks
Bank PairCompetitor APYMin Deposit
Newtek Bank vs Ally Bank3.30%$0
Newtek Bank vs American Express3.40%$0
Newtek Bank vs Axos Bank4.31%$0
Newtek Bank vs Bank of America0.01%$100
Newtek Bank vs Barclays4.00%$0
Newtek Bank vs Bask Bank3.90%$0
Newtek Bank vs BMO Alto3.25%$0
Newtek Bank vs BrioDirect4.00%$5,000
Newtek Bank vs Capital One3.40%$0
Newtek Bank vs Chase Bank0.01%$0
Newtek Bank vs Chime3.50%$0
Newtek Bank vs Citibank3.30%$0
Newtek Bank vs Citizens Access™3.35%$0.01
Newtek Bank vs Climate First Bank4.21%$50
Newtek Bank vs Discover Bank3.40%$0
Newtek Bank vs Elevault4.08%$0
Newtek Bank vs EverBank4.05%$0
Newtek Bank vs Fitness Bank4.75%$100
Newtek Bank vs FNBO Direct3.00%$1
Newtek Bank vs Forbright Bank4.00%$0
Newtek Bank vs FVCbank3.85%$500
Newtek Bank vs GO2bank4.50%$0
Newtek Bank vs Ivy Bank4.25%$2,500
Newtek Bank vs LendingClub4.20%$0
Newtek Bank vs Marcus by Goldman Sachs3.65%$0
Newtek Bank vs Neighbors Bank4.50%$0
Newtek Bank vs Openbank4.20%$500
Newtek Bank vs Peak Bank4.20%$100
Newtek Bank vs Pibank4.60%$0
Newtek Bank vs PNC3.53%$0
Newtek Bank vs Presidential Bank4.00%$5,000
Newtek Bank vs Quontic Bank3.75%$100
Newtek Bank vs Salem Five Direct3.71%$10
Newtek Bank vs Santander Bank0.01%$25
Newtek Bank vs SoFi Bank4.30%$0
Newtek Bank vs Synchrony Bank3.65%$0
Newtek Bank vs TIMBR4.40%$1,000
Newtek Bank vs UFB Direct3.71%$5000
Newtek Bank vs Valley Direct4.10%$1,000
Newtek Bank vs Varo Bank5.00%$0
Newtek Bank vs Vio Bank4.16%$100
Newtek Bank vs Wealthfront4.15%$0
Newtek Bank vs Wells Fargo0.05%$25
Newtek Bank vs Zynlo Bank4.05%$10