CIT Bank vs. Upgrade
Comparing CIT Bank and Upgrade for high-yield savings: CIT Bank's Platinum Savings pays 3.75% APY while Upgrade's Premier Savings pays 3.05% 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 $70 more than Upgrade annually ($375 vs $305).
Choose CIT Bank if getting the best rate matters most, or you want Zelle for quick transfers.
| Metric | CIT BankPlatinum Savings Mar 24, 2026 | UpgradePremier Savings Mar 24, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.05% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$153 $10,000+$305 $25,000+$763 |
Min Deposit | $100 | $0 |
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 AppDaily 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.
Executive Summary
CIT Bank offers two online-only savings accounts, with the Platinum Savings account providing the highest APY of 3.75% for balances of $5,000 or more, while lower balances earn 0.25%. The Savings Connect account offers a competitive 3.65% APY with no balance requirements or direct deposit needed, making it a simpler option. In contrast, Upgrade's Premier Savings account yields a lower APY of 3.05%, requiring a minimum balance of $1,000 but no direct deposit. Overall, CIT Bank's Platinum Savings account stands out as the winner based on higher APY offerings.
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 3.05%)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Upgrade?
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 $305/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $763/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 $70 more interest on a $10,000 balance than Upgrade's Premier 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. Upgrade Savings Calculator
You earn $70 more with CIT Bank than Upgrade 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
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$305.00(3.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,305.00
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 $304 per year in interest.
Both CIT Bank and Upgrade dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | CIT Bank | Upgrade |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 3/24/2026 Stable (90d) | 3.05% Verified: 3/24/2026 Stable (90d) |
| Product Name | Platinum Savings | Premier Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $1,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None. You cannot make use of First Citizens Bank's branches. | N/A |
| 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. | Not Supported |
| 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 Upgrade Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Upgrade | |
|---|---|---|---|
| Savings Connect | Platinum Savings | Premier Savings | |
Current APY | 3.65% | 3.75% | 3.05% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -3.8 | -11.8 |
Days Since Change | 124 | 124 | 143 |
12-Month High | 4.00% | 4.10% | 4.14% |
12-Month Low | 3.65% | 3.75% | 3.05% |
Adjustments / Mo | 0.25 | 0.25 | 0.25 |
Volatility Score | 0.037 | 0.036 | 0.131 |
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 Upgrade's APY of 3.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Upgrade vs Ally Bank | 3.20% | $0 |
| Upgrade vs American Express | 3.20% | $0 |
| Upgrade vs Axos Bank | 4.21% | $0 |
| Upgrade vs Barclays | 3.85% | $0 |
| Upgrade vs Capital One | 3.20% | $0 |
| Upgrade vs Chime | 3.00% | $0 |
| Upgrade vs Discover Bank | 3.30% | $0 |
| Upgrade vs EverBank | 3.90% | $0 |
| Upgrade vs Marcus by Goldman Sachs | 3.65% | $0 |
| Upgrade vs Newtek Bank | 4.20% | $0.01 |
| Upgrade vs Openbank | 4.09% | $500 |
| Upgrade vs Pibank | 4.60% | $0 |
| Upgrade vs SoFi Bank | 4.00% | $0 |
| Upgrade vs Synchrony Bank | 3.50% | $0 |
| Upgrade vs Varo Bank | 5.00% | $0 |
| Upgrade vs Wealthfront | 4.20% | $0 |