CIT Bank vs. Salem Five Direct
Comparing CIT Bank and Salem Five Direct for high-yield savings: CIT Bank's Platinum Savings pays 3.75% APY while Salem Five Direct's eOne Savings pays 3.61% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? CIT Bank pays $14 more than Salem Five Direct annually ($375 vs $361).
Choose CIT Bank if getting the best rate matters most, or you're an Android user.
| Metric | CIT BankPlatinum Savings Feb 21, 2026 | Salem Five DirecteOne Savings Feb 21, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.61% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $100 | $10 |
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 MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate 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. Salem Five Direct
Executive Summary
CIT Bank offers a competitive savings option with its Platinum Savings account, providing a high APY of 3.75% for balances of $5,000 or more, while lower balances earn 0.25%. This account is online-only and requires a minimum deposit of $100. In contrast, Salem Five Direct's eOne Savings account features a slightly lower APY of 3.61%, with a minimal initial deposit of just $10 and no maintenance fees. Both accounts do not require direct deposit, making them accessible for various savers. Overall, CIT Bank's Platinum Savings account stands out as the winner based on the highest APY.
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 potential APY (3.65%-3.75% vs 3.61%)
- ✓Higher rated Android app (4.7 vs 4.1)
- ✓Offers 2 different high-yield savings options
Why Salem Five Direct?
No distinct advantages found vs CIT Bank.
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $361/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $903/yr).
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $14 more interest on a $10,000 balance than Salem Five Direct's eOne 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. Salem Five Direct Savings Calculator
You earn $14 more with CIT Bank than Salem Five Direct 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
Salem Five Direct
eOne Savings
Savings Breakdown
- Interest Earned+$361.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,361.00
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 $360 per year in interest.
Both CIT Bank and Salem Five Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | CIT Bank | Salem Five Direct |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 2/21/2026 Stable (90d) | 3.61% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Platinum Savings | eOne Savings |
| Minimum Deposit | $100 | $10 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None. You cannot make use of First Citizens Bank's branches. | None |
| 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. | Available Uses shared Salem Five mobile platform. |
| 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 Salem Five Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Salem Five Direct | |
|---|---|---|---|
| Savings Connect | Platinum Savings | eOne Savings | |
Current APY | 3.65% | 3.75% | 3.61% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -4.4 | -4.2 |
Days Since Change | 93 | 93 | 66 |
12-Month High | 4.00% | 4.30% | 4.01% |
12-Month Low | 3.65% | 3.75% | 3.61% |
Adjustments / Mo | 0.25 | 0.33 | 0.25 |
Volatility Score | 0.037 | 0.042 | 0.045 |
How to read these metrics(Click to expand)
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More Comparisons
Compare CIT Bank's APY of 3.75% with other banks
Compare Salem Five Direct's APY of 3.61% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Salem Five Direct vs Ally Bank | 3.20% | $0 |
| Salem Five Direct vs American Express | 3.30% | $0 |
| Salem Five Direct vs Axos Bank | 4.21% | $0 |
| Salem Five Direct vs Bank of America | 0.01% | $100 |
| Salem Five Direct vs Barclays | 3.85% | $0 |
| Salem Five Direct vs Capital One | 3.30% | $0 |
| Salem Five Direct vs Chase Bank | 0.01% | $0 |
| Salem Five Direct vs Chime | 3.00% | $0 |
| Salem Five Direct vs Citibank | 3.20% | $0 |
| Salem Five Direct vs Discover Bank | 3.30% | $0 |
| Salem Five Direct vs EverBank | 3.90% | $0 |
| Salem Five Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Salem Five Direct vs Newtek Bank | 4.20% | $0.01 |
| Salem Five Direct vs Openbank | 4.09% | $500 |
| Salem Five Direct vs Pibank | 4.60% | $0 |
| Salem Five Direct vs SoFi Bank | 4.00% | $0 |
| Salem Five Direct vs Synchrony Bank | 3.50% | $0 |
| Salem Five Direct vs Varo Bank | 5.00% | $0 |
| Salem Five Direct vs Wealthfront | 3.95% | $0 |
| Salem Five Direct vs Wells Fargo | 0.05% | $25 |