Cit Bank vs Presidential Bank
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of CIT Bank vs. Presidential Bank
As of July 15, 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's Platinum Savings offers a competitive APY of 4.00%.
- CIT Bank has a higher App Store rating of 4.8 compared to Presidential Bank.
- No direct deposit requirement for CIT Bank's savings accounts.
Potential Drawbacks
- CIT Bank has no physical branches for in-person banking.
- CIT Bank's BBB rating is A-, not accredited.
- CIT Bank's lower APY is only 0.25%.
Presidential Bank
Strengths
- Presidential Bank's Advantage Savings offers a higher APY of 4.50%.
- Presidential Bank has 10 physical locations for customer convenience.
- Presidential Bank's lower APY is 4%, higher than CIT Bank's.
Potential Drawbacks
- Presidential Bank requires a direct deposit to earn the higher APY.
- Presidential Bank has a lower Google Play rating of 4.2.
- Presidential Bank's BBB rating is B-, not accredited.
Summary: CIT Bank offers a competitive 4.00% APY with no direct deposit requirement, while Presidential Bank provides a higher 4.50% APY but requires direct deposits. CIT Bank lacks physical branches, whereas Presidential Bank has 10 locations. CIT Bank holds a better App Store rating, but Presidential Bank's lower APY is more favorable than CIT's. Both banks are not BBB accredited, with CIT rated A- and Presidential rated B-.
Compare CIT Bank's vs Presidential Bank's Savings Accounts
| CIT Bank | Presidential Bank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Advantage Savings |
| APY | 3.90% (as of 7/15/2025) | 0.25% - 4.00% (as of 7/15/2025) | 4.00% - 4.50% (as of 7/16/2025) | |
| 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 | $0 | $5,000 | 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. | |
| Visit Bank | Savings Connect | Platinum Savings | Advantage Savings | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.6/5 | 4.2/5 | ||
| BBB Rating | A- | B- | ||
Comparative Historical APY Insights (Last 7 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) | -1.4 | -6.5 | 0.0 | |
| Rate Changes / Mo | 0.14 | 0.57 | 0.00 | |
| Days Since Last Change | 34 | 34 | 209 | |
| High (-7 m) | 4.00 % | 4.55 % | 4.50 % | |
| Low (-7 m) | 3.90 % | 4.00 % | 4.50 % | |
| Draw-down from High | -2.5 % | -12.1 % | 0.0 % | |
| Volatility (CV) | 0.009 | 0.031 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 211 days.
- Low (-7 m)
- Lowest APY in the last 211 days.
- Draw-down from High
- How far today sits below the 7-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: $40 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.15%)
Your total balance
$1,040.00
Effective APY: 4.00% (based on your deposit and contributions)
Total balance: $1,040
Earnings: $40
Bank DetailsPresidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $45 (4.31%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.69%)
Your total balance
$1,045.00
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $1,045
Earnings: $45
Bank DetailsAfter 1 year CIT Bank would earn you $5 less than Presidential Bank.
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 | 3.60% | $0 |
| CIT Bank vs Axos Bank | 4.66% | $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 | 5.00% | $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 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 | 3.60% | $0 |
| Presidential Bank vs Axos Bank | 4.66% | $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 | 5.00% | $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 Varo Bank | 5.00% | $0 |
| Presidential Bank vs Wells Fargo | 2.51% | $25 |