CIT Bank vs. Santander Bank
Comparing CIT Bank and Santander Bank for savings: CIT Bank's Platinum Savings pays 3.75% APY while Santander Bank's Santander Savings pays 0.01% 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 $374 more than Santander Bank annually ($375 vs $1).
Choose CIT Bank if getting the best rate matters most, or you're an Android user. Choose Santander Bank if you value in-person banking.
| Metric | CIT BankPlatinum Savings Mar 7, 2026 | Santander BankSantander Savings Jan 29, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 0.01% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $100 | $25 |
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 AppIn-Person AccessZelle® SupportedDaily 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. Santander Bank
Executive Summary
CIT Bank offers superior savings options with its Platinum Savings account, which provides a competitive APY of 3.75% for balances of $5,000 or more, while lower balances earn 0.25%. Additionally, the Savings Connect account yields a solid 3.65% APY with no direct deposit requirement or maintenance fees, making it an excellent choice for simplicity. In contrast, Santander Bank's savings account offers a significantly lower APY of just 0.01%, making CIT Bank the clear winner in terms of returns on savings.
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 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.7 vs 4.0)
- ✓Offers 2 different high-yield savings options
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $1/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $3/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $374 more interest on a $10,000 balance than Santander Bank's Santander 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. Santander Bank Savings Calculator
You earn $374 more with CIT Bank than Santander 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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | Santander Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 3/7/2026 Stable (90d) | 0.01% Verified: 1/29/2026 Stable (90d) |
| Product Name | Platinum Savings | Santander Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0 | $1 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None. You cannot make use of First Citizens Bank's branches. | Primarily in the Northeast and Miami, Florida |
| 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 Branch-based retail accounts only. |
| BBB Rating | A+ | Not Rated |
| 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 Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Santander Bank | |
|---|---|---|---|
| Savings Connect | Platinum Savings | Santander Savings | |
Current APY | 3.65% | 3.75% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.5 | -4.5 | -0.2 |
Days Since Change | 70 | 70 | 132 |
12-Month High | 4.00% | 4.35% | 0.03% |
12-Month Low | 3.65% | 3.75% | 0.01% |
Adjustments / Mo | 0.25 | 0.41 | 0.08 |
Volatility Score | 0.038 | 0.047 | 0.462 |
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 Santander Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Santander Bank vs Ally Bank | 3.20% | $0 |
| Santander Bank vs American Express | 3.30% | $0 |
| Santander Bank vs Axos Bank | 4.21% | $0 |
| Santander Bank vs Bank of America | 0.01% | $100 |
| Santander Bank vs Barclays | 3.85% | $0 |
| Santander Bank vs Capital One | 3.30% | $0 |
| Santander Bank vs Chase Bank | 0.01% | $0 |
| Santander Bank vs Chime | 3.00% | $0 |
| Santander Bank vs Citibank | 3.20% | $0 |
| Santander Bank vs Discover Bank | 3.30% | $0 |
| Santander Bank vs EverBank | 3.90% | $0 |
| Santander Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Santander Bank vs Newtek Bank | 4.20% | $0.01 |
| Santander Bank vs Openbank | 4.09% | $500 |
| Santander Bank vs Pibank | 4.60% | $0 |
| Santander Bank vs SoFi Bank | 4.00% | $0 |
| Santander Bank vs Synchrony Bank | 3.50% | $0 |
| Santander Bank vs Varo Bank | 5.00% | $0 |
| Santander Bank vs Wealthfront | 4.20% | $0 |
| Santander Bank vs Wells Fargo | 0.05% | $25 |