Cit Bank vs. Santander Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of CIT Bank vs. Santander Bank
Key Metrics at a Glance
| Feature | CIT Bank | Santander Bank |
|---|---|---|
| Top Savings APY | 3.85% Platinum Savings | 0.01% Santander Savings |
| Minimum to Open | $100 | $25 |
| Minimum Balance for Top APY | $5,000 | $0 |
CIT Bank
Strengths
- CIT Bank's Platinum Savings offers a competitive APY of 3.85%.
- CIT Bank has no maintenance fees for its 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.
Santander Bank
Strengths
- Santander Bank has physical branches primarily in the Northeast and Miami.
- Santander Bank's Santander Savings account has a low minimum deposit of $25.
Potential Drawbacks
- Santander Bank's savings account offers a low APY of 0.01%.
- Santander Bank has a maintenance fee of $1 for its savings account.
- Santander Bank is not rated by the BBB.
→ As of October 21, 2025 CIT Bank offers an APY of 3.85% 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 yields $384 more than Santander Bank on a $10,000 balance after one year. CIT Bank pays $385, while Santander Bank pays $1 - an APY advantage for CIT Bank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.
Calculate Savings Growth for CIT Bank vs Santander Bank
CIT Bank - Platinum Savings
Total savings breakdown:
- Interest earned: $2,338 (11.50%)
- Total contributions: $13,000 (63.92%)
- Initial deposit: $5,000 (24.58%)
Your total balance
$20,338.00
Total balance: $20,338
Earnings: $2,338
Bank OverviewSantander Bank - Santander Savings
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $2,332.3 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare CIT Bank's vs Santander Bank's Savings Accounts
| CIT Bank | Santander Bank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | Santander Savings |
| APY | 0.25% - 3.85% (as of 10/21/2025) | 3.75% (as of 10/21/2025) | 0.01% (as of 10/21/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $25 | |
| Minimum Balance for APY | $5,000 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $1 | |
| Direct Deposit Required | No | No | No | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.3/5 | 4.1/5 | ||
| BBB Rating | A- | Not Rated | ||
Comparative Historical APY Insights (Last 9 Months)
| CIT Bank | Santander Bank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | Santander Savings |
| Latest APY | 3.75 % | 3.85 % | 0.01 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -2.6 | -4.9 | -0.1 | |
| Rate Changes / Mo | 0.22 | 0.44 | 0.11 | |
| Days Since Last Change | 28 | 28 | 32 | |
| High (-9 m) | 4.00 % | 4.35 % | 0.03 % | |
| Low (-9 m) | 3.75 % | 3.85 % | 0.01 % | |
| Draw-down from High | -6.3 % | -11.5 % | -66.7 % | |
| Volatility (CV) | 0.020 | 0.035 | 0.232 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 272 days.
- Low (-9 m)
- Lowest APY in the last 272 days.
- Draw-down from High
- How far today sits below the 9-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.