Cit Bank vs Presidential Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of CIT Bank vs. Presidential Bank
As of August 29, 2025 CIT Bank offers an APY of 4.00% for its Platinum Savings account, compared to Presidential Bank's 4.50% APY for its Advantage Savings account.
Presidential Bank yields $50 more than CIT Bank on a $10,000 balance after one year. CIT Bank pays $400, while Presidential Bank pays $450 - an APY advantage for Presidential Bank.
In addition, CIT Bank also offers 3.90% APY for the Savings Connect account.
CIT Bank
Strengths
- CIT Bank offers a Platinum Savings account with a current APY of 4.00%.
- CIT Bank has no maintenance fees for its savings accounts.
- CIT Bank has a higher App Store rating of 4.8.
Potential Drawbacks
- CIT Bank has no physical branches for in-person banking.
- CIT Bank's Platinum Savings requires a minimum balance of $5,000.
- CIT Bank's current APY is lower than Presidential Bank's 4.50%.
Presidential Bank
Strengths
- Presidential Bank offers an Advantage Savings account with a current APY of 4.50%.
- Presidential Bank has 10 physical branch locations for customer convenience.
- Presidential Bank's current APY has remained stable at 4.50%.
Potential Drawbacks
- Presidential Bank requires a monthly direct deposit of $500 to earn the higher APY.
- Presidential Bank has a lower Google Play rating of 4.2.
- Presidential Bank's minimum deposit for the Advantage Savings account is $5,000.
Summary: CIT Bank provides a competitive APY of 4.00% with no maintenance fees but lacks physical branches. In contrast, Presidential Bank offers a higher APY of 4.50% with branch access, although it requires a monthly direct deposit to achieve this rate. Both banks have strong App Store ratings, but CIT Bank outperforms in that area. However, both banks have similar minimum deposit requirements of $5,000 for their high-yield savings accounts.
Compare CIT Bank's vs Presidential Bank's Savings Accounts
| CIT Bank | Presidential Bank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | Advantage Savings |
| APY | 0.25% - 4.00% (as of 8/29/2025) | 3.90% (as of 8/29/2025) | 4.00% - 4.50% (as of 8/29/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | |
| Compound Frequency | Daily | Daily | Monthly | |
| Minimum Deposit | $100 | $100 | $5,000 | |
| Minimum Balance for APY | $5,000 | $0 | N/A | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.6/5 | 4.2/5 | ||
| BBB Rating | A- | A- | ||
Comparative Historical APY Insights (Last 8 Months)
| CIT Bank | Presidential Bank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Advantage Savings |
| Latest APY | 3.90 % | 4.00 % | 4.50 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -1.8 | -5.4 | 0.0 | |
| Rate Changes / Mo | 0.12 | 0.47 | 0.00 | |
| Days Since Last Change | 80 | 80 | 255 | |
| High (-8 m) | 4.00 % | 4.55 % | 4.50 % | |
| Low (-8 m) | 3.90 % | 4.00 % | 4.50 % | |
| Draw-down from High | -2.5 % | -12.1 % | 0.0 % | |
| Volatility (CV) | 0.012 | 0.033 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 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 (-8 m)
- Highest APY in the last 257 days.
- Low (-8 m)
- Lowest APY in the last 257 days.
- Draw-down from High
- How far today sits below the 8-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 Presidential 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 OverviewPresidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $325.4 lower than Presidential 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 | Best 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 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 Fitness Bank | 4.85% | $100 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs SoFi Bank | 3.80% | $0 |
| CIT Bank vs Synchrony Bank | 3.80% | $0 |
| CIT Bank vs UFB Direct | 4.21% | $5000 |
| CIT Bank vs Varo Bank | 5.00% | $0 |
| CIT Bank vs Wells Fargo | 2.51% | $25 |
Compare Presidential Bank's APY of 4.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Presidential Bank vs Ally Bank | 3.50% | $0 |
| Presidential Bank vs American Express | 3.50% | $0 |
| Presidential Bank vs Axos Bank | 4.46% | $0 |
| Presidential Bank vs Bank of America | 0.01% | $100 |
| Presidential Bank vs Barclays | 4.10% | $0 |
| Presidential Bank vs Capital One | 3.50% | $0 |
| Presidential Bank vs Chase Bank | 0.01% | $0 |
| Presidential Bank vs Chime | 3.75% | $0 |
| Presidential Bank vs Discover Bank | 3.50% | $0 |
| Presidential Bank vs Fitness Bank | 4.85% | $100 |
| Presidential Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Presidential Bank vs SoFi Bank | 3.80% | $0 |
| Presidential Bank vs Synchrony Bank | 3.80% | $0 |
| Presidential Bank vs UFB Direct | 4.21% | $5000 |
| Presidential Bank vs Varo Bank | 5.00% | $0 |
| Presidential Bank vs Wells Fargo | 2.51% | $25 |