High-Yield Savings Account Comparison

CIT Bank vs. Varo Bank

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 17, 2025

CIT Bank

Platinum Savings

Up to
3.75%
APY
Dec 17, 2025
FDIC InsuredMod. MinimumGreat iOS AppGreat Android App
Range: 0.25% – 3.75%
Show Fine Print & Trends
Min. Deposit$100
Min. Balance$5,000
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 11063)
EligibilityUnited States
Mobile Ratings
iOS:4.8Android:4.3
BBB Rating
A-(Not BBB Accredited (Information provided is for First Citizens Bank & Trust Company))

Important Note

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%.

Rate Stability

30 days
↘︎ 0.10%
90 days
↘︎ 0.25%
Sponsored LinkOpen Account

at CIT Bank, Member FDIC

Read Bank Overview

Varo Bank

High-Yield Savings Account

Up to
5.00%
APY
Dec 16, 2025
FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android App
Range: 2.50% – 5.00%
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0.01
Maintenance Fee$0
Compound FreqDaily
Direct DepositRequired (Min. $1,000/month)
Deposit InsuranceFDIC Insured(Cert: 59190)
EligibilityUnited States
Mobile Ratings
iOS:4.9Android:4.6
BBB Rating
A(BBB Accredited)

Important Note

Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.

Rate Stability

Very StableNo rate changes in last 90 days
Read Bank Overview

Comparison Analysis

Comparing CIT Bank vs. Varo Bank

Updated: Dec 17, 2025

As of both CIT Bank (Platinum Savings) and Varo Bank (High-Yield Savings Account) offer an APY of 3.75% .

Both banks yield $375 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.

In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.

Why CIT Bank?

  • ✓No checking account or direct deposit required
  • ✓Offers 2 different high-yield savings options

Why Varo Bank?

  • ✓Higher potential APY (5.00% vs 3.65%-3.75%) on balances up to $5,000 (requires checking bundle & direct deposit)
  • ✓Higher rated Android app (4.6 vs 4.3)

— Key Feature Differences —

Better Returns at $25,000
CIT Bank

CIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $750/yr).

Best for Simplicity
CIT Bank

CIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.

Shared Benefits

Both offer monthly maintenance-free account options Available Nationwide Available to New & Existing Customers
Automated Data Audit

Executive Summary

Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00% on balances up to $5,000, while balances exceeding this threshold earn 2.50%. However, eligibility requires a Varo bank account and a minimum direct deposit of $1,000 per month. In comparison, CIT Bank's Platinum Savings account provides a lower APY of 3.75%, but it does not impose any direct deposit requirements and only requires a $5,000 balance to earn this rate. For those seeking simplicity, CIT's Savings Connect offers an APY of 3.65% with no minimum balance requirement. Both banks operate online only.

Analysis generated based on current Banksparency database records

* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.

ExploreCIT BankExploreVaro Bank

Prefer In-Person Banking?

Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.

Find Branch Access

CIT Bank vs. Varo Bank Savings Calculator

Calculations based on current APY for Platinum Savings and High-Yield Savings Account
$
$

Both accounts earn exactly the same amount.

CIT Bank

Platinum Savings

3.75% APY

Savings Breakdown

  • Interest Earned
    +$375.00(3.6%)
  • Total Contributions
    $0
  • Initial Deposit
    $10,000

Projected Balance

$10,375.00

Effective APY
3.75%

Varo Bank

High-Yield Savings Account

5.00% APY

5.00% on first $5,000 and 2.50% thereafter.

Savings Breakdown

  • Interest Earned
    +$375.00(3.6%)
  • Total Contributions
    $0
  • Initial Deposit
    $10,000

Projected Balance

$10,375.00

Effective APY
3.75%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

FeatureCIT BankVaro Bank
APY
3.75%
Range: 0.25% - 3.75%
Verified: 12/17/2025
↘︎ 0.25%90d Change
5.00%
Range: 2.50% - 5.00%
Verified: 12/16/2025
Stable (90d)
Product NamePlatinum SavingsHigh-Yield Savings Account
Minimum Deposit$100$0
Min. Balance for APY$5,000$0.01
Monthly Fee$0$0
Branch AccessNoneNone
Account Type
Online Only
Online Only
Direct Deposit Req.None
RequiredMin. $1,000/month
Checking BundleNo Yes
Mobile Apps
iOS4.8
Android4.3
iOS4.9
Android4.6
BBB RatingA-A
Important NotesThis 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%.Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.
Next Steps
SponsoredOpen Account
- View Details

📈 Compare Savings Rates Over Time

Historical Performance

Last 12 Months Analysis
MetricCIT BankVaro Bank
Savings ConnectPlatinum SavingsHigh-Yield Savings Account
Current APY
3.65%3.75%5.00%
Trend
 Stable Stable Stable
Velocity (bps/mo)
-3.4-5.10.0
Days Since Change
2727363
12-Month High
4.00%4.55%5.00%
12-Month Low
3.65%3.75%5.00%
Adjustments / Mo
0.250.490.00
Volatility Score
0.0320.0460.000
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 365-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

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APY
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Comparing against other Bundled Accounts

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Axos BankChecking Bundle
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APY
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APY
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More Comparisons

Compare CIT Bank's APY of 3.75% with other banks
Bank PairCompetitor APYMin Deposit
CIT Bank vs Affirm3.60%$0
CIT Bank vs Ally Bank3.30%$0
CIT Bank vs American Express3.40%$0
CIT Bank vs Axos Bank4.31%$0
CIT Bank vs Bank of America0.01%$100
CIT Bank vs Barclays4.00%$0
CIT Bank vs Bask Bank3.90%$0
CIT Bank vs Betterment3.25%$10
CIT Bank vs BMO Alto3.25%$0
CIT Bank vs Bread Savings4.10%$100
CIT Bank vs BrioDirect3.75%$5,000
CIT Bank vs Capital One3.40%$0
CIT Bank vs Charles Schwab Bank0.15%$0
CIT Bank vs Chase Bank0.01%$0
CIT Bank vs Chime3.50%$0
CIT Bank vs Citibank3.30%$0
CIT Bank vs Citizens Access™3.15%$0.01
CIT Bank vs Climate First Bank4.21%$50
CIT Bank vs Discover Bank3.40%$0
CIT Bank vs E*TRADE from Morgan Stanley3.50%$0
CIT Bank vs Elevault3.82%$0
CIT Bank vs EverBank4.05%$0
CIT Bank vs Fitness Bank4.75%$100
CIT Bank vs FNBO Direct3.00%$1
CIT Bank vs Forbright Bank4.00%$0
CIT Bank vs FVCbank3.85%$500
CIT Bank vs GO2bank4.50%$0
CIT Bank vs Ivy Bank4.10%$2,500
CIT Bank vs LendingClub4.00%$0
CIT Bank vs Marcus by Goldman Sachs3.65%$0
CIT Bank vs Neighbors Bank4.30%$0
CIT Bank vs Newtek Bank4.35%$0.01
CIT Bank vs Openbank4.20%$500
CIT Bank vs Peak Bank4.20%$100
CIT Bank vs Pibank4.60%$0
CIT Bank vs PNC3.30%$0
CIT Bank vs Presidential Bank3.75%$5,000
CIT Bank vs Quontic Bank3.75%$100
CIT Bank vs Salem Five Direct3.61%$10
CIT Bank vs Sallie Mae Bank3.90%$0
CIT Bank vs Santander Bank0.01%$25
CIT Bank vs SoFi Bank4.30%$0
CIT Bank vs Synchrony Bank3.65%$0
CIT Bank vs TD Bank2.75%$0
CIT Bank vs TIMBR4.40%$1,000
CIT Bank vs UFB Direct3.60%$5000
CIT Bank vs Upgrade3.05%$0
CIT Bank vs Valley Direct4.00%$1,000
CIT Bank vs Vio Bank4.16%$100
CIT Bank vs Wealthfront4.15%$0
CIT Bank vs Wells Fargo0.05%$25
CIT Bank vs Zynlo Bank4.05%$10
Compare Varo Bank's APY of 5.00% with other banks
Bank PairCompetitor APYMin Deposit
Varo Bank vs Affirm3.60%$0
Varo Bank vs Ally Bank3.30%$0
Varo Bank vs American Express3.40%$0
Varo Bank vs Axos Bank4.31%$0
Varo Bank vs Bank of America0.01%$100
Varo Bank vs Barclays4.00%$0
Varo Bank vs Bask Bank3.90%$0
Varo Bank vs Betterment3.25%$10
Varo Bank vs BMO Alto3.25%$0
Varo Bank vs Bread Savings4.10%$100
Varo Bank vs BrioDirect3.75%$5,000
Varo Bank vs Capital One3.40%$0
Varo Bank vs Charles Schwab Bank0.15%$0
Varo Bank vs Chase Bank0.01%$0
Varo Bank vs Chime3.50%$0
Varo Bank vs Citibank3.30%$0
Varo Bank vs Citizens Access™3.15%$0.01
Varo Bank vs Climate First Bank4.21%$50
Varo Bank vs Discover Bank3.40%$0
Varo Bank vs E*TRADE from Morgan Stanley3.50%$0
Varo Bank vs Elevault3.82%$0
Varo Bank vs EverBank4.05%$0
Varo Bank vs Fitness Bank4.75%$100
Varo Bank vs FNBO Direct3.00%$1
Varo Bank vs Forbright Bank4.00%$0
Varo Bank vs FVCbank3.85%$500
Varo Bank vs GO2bank4.50%$0
Varo Bank vs Ivy Bank4.10%$2,500
Varo Bank vs LendingClub4.00%$0
Varo Bank vs Marcus by Goldman Sachs3.65%$0
Varo Bank vs Neighbors Bank4.30%$0
Varo Bank vs Newtek Bank4.35%$0.01
Varo Bank vs Openbank4.20%$500
Varo Bank vs Peak Bank4.20%$100
Varo Bank vs Pibank4.60%$0
Varo Bank vs PNC3.30%$0
Varo Bank vs Presidential Bank3.75%$5,000
Varo Bank vs Quontic Bank3.75%$100
Varo Bank vs Salem Five Direct3.61%$10
Varo Bank vs Sallie Mae Bank3.90%$0
Varo Bank vs Santander Bank0.01%$25
Varo Bank vs SoFi Bank4.30%$0
Varo Bank vs Synchrony Bank3.65%$0
Varo Bank vs TD Bank2.75%$0
Varo Bank vs TIMBR4.40%$1,000
Varo Bank vs UFB Direct3.60%$5000
Varo Bank vs Upgrade3.05%$0
Varo Bank vs Valley Direct4.00%$1,000
Varo Bank vs Vio Bank4.16%$100
Varo Bank vs Wealthfront4.15%$0
Varo Bank vs Wells Fargo0.05%$25
Varo Bank vs Zynlo Bank4.05%$10