CIT Bank vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 21, 2026 | Santander BankSantander Savings Jan 21, 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® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing CIT Bank vs. Santander Bank
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
CIT Bank pays $374 more than Santander Bank on a $10,000 balance after one year. CIT Bank pays $375, while Santander Bank pays $1 - an APY advantage for CIT Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
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 (4.6 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.
Executive Summary as of
CIT Bank offers a competitive savings product landscape, with its Platinum Savings account providing the highest APY of 3.75%, contingent on maintaining a $5,000 balance. For those seeking simplicity, the Savings Connect account yields 3.65% APY with no balance requirement, making it an appealing option without direct deposit needs. In contrast, Santander Bank's savings account offers a significantly lower APY of just 0.01%, which may not meet the needs of those looking for better returns. Overall, CIT Bank stands out as the more attractive choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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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: 1/21/2026 ↘︎ 0.10%90d Change | 0.01% Verified: 1/21/2026 Stable (90d) |
| Product Name | Platinum Savings | Santander Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0 | $1 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.0 |
| 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) | -3.6 | -4.9 | -0.2 |
Days Since Change | 62 | 62 | 124 |
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 | 0.036 | 0.046 | 0.450 |
How to read these metrics(Click to expand)
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