CIT Bank vs. Popular Direct
Comparing CIT Bank and Popular Direct for high-yield savings: CIT Bank's Platinum Savings pays 3.75% APY while Popular Direct's Popular Direct Select Savings pays 3.90% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Popular Direct pays $15 more than CIT Bank annually ($390 vs $375).
Choose CIT Bank if mobile app quality matters, or you want Zelle for quick transfers. Choose Popular Direct if getting the best rate matters most.
| Metric | CIT BankPlatinum Savings Feb 24, 2026 | Popular DirectPopular Direct Select Savings Feb 24, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.90% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $100 | $100 |
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® SupportedDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing CIT Bank vs. Popular Direct
Executive Summary
Popular Direct offers the highest APY of 3.90% with its Popular Direct Select Savings account, making it the winner among the two banks. This account requires a minimum deposit of $100 and has no maintenance fees or direct deposit requirements, providing a straightforward savings option. In comparison, CIT Bank's Platinum Savings account offers a slightly lower APY of 3.75%, but this rate is contingent on maintaining a minimum balance of $5,000, with lower balances earning only 0.25%. Both banks operate online only, ensuring accessibility without physical branches.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why CIT Bank?
- ✓Higher rated iOS app (4.8 vs 1.3)
- ✓Higher rated Android app (4.7 vs 1.3)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Popular Direct?
- ✓Higher potential APY (3.90% vs 3.65%-3.75%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Popular DirectPopular Direct's Popular Direct Select Savings earns more on smaller deposits (approx. $390 vs $375/yr).
Better Returns at $25,000
Popular DirectPopular Direct's Popular Direct Select Savings pulls ahead with larger amounts (approx. $975 vs $938/yr).
Best for Simplicity
Popular DirectPopular Direct's Popular Direct Select Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
CIT BankCIT Bank offers an iOS app rated 4.8 (vs. 1.3) and Android app rated 4.7 (vs. 1.3)
Shared Benefits
Over a 1-year period, Popular Direct's Popular Direct Select Savings pays $15 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.
* Secure link to our partner
Non-sponsored link to official site
Top Market Contenders
CIT Bank vs. Popular Direct Savings Calculator
You earn $15 more with Popular Direct 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
Popular Direct
Popular Direct Select Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $374 per year in interest.
Both CIT Bank and Popular Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | CIT Bank | Popular Direct |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 2/24/2026 Stable (90d) | 3.90% Verified: 2/24/2026 ↘︎ 0.10%90d Change |
| Product Name | Platinum Savings | Popular Direct Select Savings |
| Minimum Deposit | $100 | $100 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None. You cannot make use of First Citizens Bank's branches. | None. You cannot make use of Popular Bank's branches. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| 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%. | - |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Popular Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Popular Direct | |
|---|---|---|---|
| Savings Connect | Platinum Savings | Popular Direct Select Savings | |
Current APY | 3.65% | 3.75% | 3.90% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -4.4 | -1.9 |
Days Since Change | 96 | 96 | 71 |
12-Month High | 4.00% | 4.30% | 4.30% |
12-Month Low | 3.65% | 3.75% | 3.90% |
Adjustments / Mo | 0.25 | 0.33 | 0.58 |
Volatility Score | 0.037 | 0.042 | 0.021 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare CIT Bank vs...
Comparing against Standard Savings
Compare Popular Direct vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare CIT Bank's APY of 3.75% with other banks
Compare Popular Direct's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Popular Direct vs Ally Bank | 3.20% | $0 |
| Popular Direct vs American Express | 3.30% | $0 |
| Popular Direct vs Axos Bank | 4.21% | $0 |
| Popular Direct vs Bank of America | 0.01% | $100 |
| Popular Direct vs Barclays | 3.85% | $0 |
| Popular Direct vs Capital One | 3.30% | $0 |
| Popular Direct vs Chase Bank | 0.01% | $0 |
| Popular Direct vs Chime | 3.00% | $0 |
| Popular Direct vs Citibank | 3.20% | $0 |
| Popular Direct vs Discover Bank | 3.30% | $0 |
| Popular Direct vs EverBank | 3.90% | $0 |
| Popular Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Popular Direct vs Newtek Bank | 4.20% | $0.01 |
| Popular Direct vs Openbank | 4.09% | $500 |
| Popular Direct vs Pibank | 4.60% | $0 |
| Popular Direct vs SoFi Bank | 4.00% | $0 |
| Popular Direct vs Synchrony Bank | 3.50% | $0 |
| Popular Direct vs Varo Bank | 5.00% | $0 |
| Popular Direct vs Wealthfront | 3.95% | $0 |
| Popular Direct vs Wells Fargo | 0.05% | $25 |