High-Yield Savings Account Comparison

CIT Bank vs. Wells Fargo

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

Analysis by Aviel Fahl

Updated December 6, 2025

Advertising Disclosure: We may earn a commission from partner links.

CIT Bank

Platinum Savings

Up to

3.75%

APY

Dec 6, 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 Freq	Daily
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 11063)
Eligibility	United States
Mobile Ratings	iOS:4.8 Android:4.3
BBB Rating	A-(Not BBB Accredited (Information provided is for First Citizens Bank & Trust Company))

Rate Stability

30 days

↘︎ 0.10%

90 days

↘︎ 0.25%

Read Bank Overview

Wells Fargo

Platinum Savings

0.05%

APY

Dec 6, 2025

FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person Access

Show Fine Print & Trends

Min. Deposit	$25
Min. Balance	$1,000,000
Maintenance Fee	$12. Waived with $3,500 minimum daily balance.
Compound Freq	Daily
Direct Deposit	Not required
Branch Access	Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.
Deposit Insurance	FDIC Insured(Cert: 3511)
Eligibility	United States
Mobile Ratings	iOS:4.9 Android:4.8
BBB Rating	D-(Not BBB Accredited)

Important Note

This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details.

Rate Stability

Rate Adjusted

-2.46%

Since 90 days ago

Read Bank Overview

Market Reality Check

Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.

See Top Rates

Comparison Analysis

Comparing CIT Bank vs. Wells Fargo

Updated: Dec 6, 2025

Why CIT Bank?

✓Higher potential APY (3.65%-3.75% vs 0.01%-0.05%) on all balances
✓No checking account or direct deposit required

Why Wells Fargo?

✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
✓Higher rated Android app (4.8 vs 4.3)

— Key Feature Differences —

Better Returns at $10,000

CIT Bank

CIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $5/yr).

Better Returns at $25,000

CIT Bank

CIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $13/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

Available Nationwide Available to New & Existing Customers

The Bottom Line

Over a 1-year period, CIT Bank's Platinum Savings pays $370 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.

Wells FargoCIT Bank

Automated Data Audit

Executive Summary

CIT Bank offers a superior savings option with its Platinum Savings account, providing an APY of 3.75%, significantly higher than Wells Fargo's Way2Save Savings account, which yields only 0.01%. CIT Bank's Platinum Savings is an online-only product, requiring a minimum deposit of $100 and maintaining a balance of $5,000 to avoid fees, with no direct deposit requirement. In contrast, Wells Fargo's offerings, including the Platinum Savings account with an APY of 0.05%, are tiered and require linking to a Premier checking account for higher rates. Overall, CIT Bank stands out for higher returns and fewer restrictions.

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 Bank ExploreWells Fargo

Top Market Contenders

See who beats both CIT Bank and Wells Fargo.

Compare All High-Yield Savings Accounts

Pibank

Pibank Savings

FDIC InsuredNo Minimums

4.60% APY

+0.85% vs CIT Bank

Better Rate

Pibank vs CIT Bank Pibank vs Wells Fargo

Neighbors Bank

Neighbors Savings Account

FDIC InsuredNo MinimumsGreat Android App

4.50% APY

+0.75% vs CIT Bank

Better Rate

Neighbors Bank vs CIT Bank Neighbors Bank vs Wells Fargo

Axos Bank

Axos ONE

FDIC InsuredNo MinimumsGreat iOS AppGreat Android App

4.31% APY

+0.56% vs CIT Bank

Better Rate

Axos Bank vs CIT Bank Axos Bank vs Wells Fargo

Feature	CIT Bank	Wells Fargo
APY	3.75% Range: 0.25% - 3.75% Verified: 12/6/2025 ↘︎ 0.25%90d Change	0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change
Product Name	Platinum Savings	Platinum Savings
Minimum Deposit	$100	$25
Min. Balance for APY	$5,000	$1,000,000
Monthly Fee	$0	$12. Waived with $3,500 minimum daily balance.
Branch Access	None	Yes
Account Type	Online Only	Online & Branches
Direct Deposit Req.	None	None
Checking Bundle	No	Yes
Mobile Apps	iOS4.8 Android4.3	iOS4.9 Android4.8
BBB Rating	A-	D-
Important Notes	-	This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details.
Next Steps	- View Details	- View Details

Savings Comparison

Calculations based on current APY.

Initial Deposit

Recurring Deposit

Frequency

Duration

CIT Bank earns $2,245.2 more than Wells Fargo.

CIT Bank

Platinum Savings

3.75% APY

Savings Breakdown

Interest Earned
+$2,273.80(11.2%)
Total Contributions
$13,000
Initial Deposit
$5,000

Projected Balance

$20,273.80

Effective APY

3.75%

View Details

Wells Fargo

Platinum Savings

0.05% APY

Higher APY requires $1,000,000

Savings Breakdown

Interest Earned
+$28.60(0.2%)
Total Contributions
$13,000
Initial Deposit
$5,000

Projected Balance

$18,028.60

Effective APY

0.05%

View Details

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

📈 Compare Savings Rates Over Time

Historical Performance

Last 5 Months Analysis

Metric	CIT Bank		Wells Fargo
	Savings Connect	Platinum Savings	Platinum Savings	Way2Save Savings
Current APYMost recent advertised annual-percentage yield.	3.65%	3.75%	0.05%	0.01%
TrendDirection over the last 5 months (regression slope).	Stable	Stable	Stable	Stable
Velocity (bps/mo)Average monthly change; 10 bps = 0.10 pp.	-6.0	-6.0	-72.0	0.0
Days Since ChangeRecency of the latest APY adjustment.	16	16	50	143
5-Month HighHighest APY in the last 144 days.	3.90%	4.00%	2.51%	0.01%
5-Month LowLowest APY in the last 144 days.	3.65%	3.75%	0.05%	0.01%
Adjustments / MoTypical number of APY moves per month.	0.42	0.42	0.63	0.00
Volatility ScoreCoefficient of variation (stdev ÷ mean). Lower is more stable.	0.024	0.024	0.843	0.000

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 144-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.

Compare Similar Alternatives

Compare CIT Bank vs...

Comparing against Standard Savings

Neighbors BankNo Bundle Req

Compare Wells Fargo vs...

Comparing against other Bundled Accounts

vs Wells Fargo

Axos BankChecking Bundle

4.31%

APY

vs Wells Fargo

SoFi BankChecking Bundle

4.30%

APY

vs Wells Fargo

Presidential BankChecking Bundle

4.00%

APY

More Comparisons

Compare CIT Bank's APY of 3.75% with other banks

Bank Pair	Competitor APY	Min Deposit
CIT Bank vs Ally Bank	3.30%	$0
CIT Bank vs American Express	3.40%	$0
CIT Bank vs Axos Bank	4.31%	$0
CIT Bank vs Bank of America	0.01%	$100
CIT Bank vs Barclays	4.00%	$0
CIT Bank vs Bask Bank	3.90%	$0
CIT Bank vs BMO Alto	3.25%	$0
CIT Bank vs BrioDirect	4.00%	$5,000
CIT Bank vs Capital One	3.40%	$0
CIT Bank vs Chase Bank	0.01%	$0
CIT Bank vs Chime	3.50%	$0
CIT Bank vs Citibank	3.30%	$0
CIT Bank vs Citizens Access™	3.35%	$0.01
CIT Bank vs Climate First Bank	4.21%	$50
CIT Bank vs Discover Bank	3.40%	$0
CIT Bank vs Elevault	4.08%	$0
CIT Bank vs EverBank	4.05%	$0
CIT Bank vs Fitness Bank	4.75%	$100
CIT Bank vs FNBO Direct	3.00%	$1
CIT Bank vs Forbright Bank	4.00%	$0
CIT Bank vs FVCbank	3.85%	$500
CIT Bank vs GO2bank	4.50%	$0
CIT Bank vs Ivy Bank	4.25%	$2,500
CIT Bank vs LendingClub	4.20%	$0
CIT Bank vs Marcus by Goldman Sachs	3.65%	$0
CIT Bank vs Neighbors Bank	4.50%	$0
CIT Bank vs Newtek Bank	4.35%	$0.01
CIT Bank vs Openbank	4.20%	$500
CIT Bank vs Peak Bank	4.20%	$100
CIT Bank vs Pibank	4.60%	$0
CIT Bank vs PNC	3.53%	$0
CIT Bank vs Presidential Bank	4.00%	$5,000
CIT Bank vs Quontic Bank	3.75%	$100
CIT Bank vs Salem Five Direct	3.71%	$10
CIT Bank vs Santander Bank	0.01%	$25
CIT Bank vs SoFi Bank	4.30%	$0
CIT Bank vs Synchrony Bank	3.65%	$0
CIT Bank vs TIMBR	4.40%	$1,000
CIT Bank vs UFB Direct	3.71%	$5000
CIT Bank vs Valley Direct	4.10%	$1,000
CIT Bank vs Varo Bank	5.00%	$0
CIT Bank vs Vio Bank	4.16%	$100
CIT Bank vs Wealthfront	4.15%	$0
CIT Bank vs Zynlo Bank	4.05%	$10

Compare Wells Fargo's APY of 0.05% with other banks

Bank Pair	Competitor APY	Min Deposit
Wells Fargo vs Ally Bank	3.30%	$0
Wells Fargo vs American Express	3.40%	$0
Wells Fargo vs Axos Bank	4.31%	$0
Wells Fargo vs Bank of America	0.01%	$100
Wells Fargo vs Barclays	4.00%	$0
Wells Fargo vs Bask Bank	3.90%	$0
Wells Fargo vs BMO Alto	3.25%	$0
Wells Fargo vs BrioDirect	4.00%	$5,000
Wells Fargo vs Capital One	3.40%	$0
Wells Fargo vs Chase Bank	0.01%	$0
Wells Fargo vs Chime	3.50%	$0
Wells Fargo vs Citibank	3.30%	$0
Wells Fargo vs Citizens Access™	3.35%	$0.01
Wells Fargo vs Climate First Bank	4.21%	$50
Wells Fargo vs Discover Bank	3.40%	$0
Wells Fargo vs Elevault	4.08%	$0
Wells Fargo vs EverBank	4.05%	$0
Wells Fargo vs Fitness Bank	4.75%	$100
Wells Fargo vs FNBO Direct	3.00%	$1
Wells Fargo vs Forbright Bank	4.00%	$0
Wells Fargo vs FVCbank	3.85%	$500
Wells Fargo vs GO2bank	4.50%	$0
Wells Fargo vs Ivy Bank	4.25%	$2,500
Wells Fargo vs LendingClub	4.20%	$0
Wells Fargo vs Marcus by Goldman Sachs	3.65%	$0
Wells Fargo vs Neighbors Bank	4.50%	$0
Wells Fargo vs Newtek Bank	4.35%	$0.01
Wells Fargo vs Openbank	4.20%	$500
Wells Fargo vs Peak Bank	4.20%	$100
Wells Fargo vs Pibank	4.60%	$0
Wells Fargo vs PNC	3.53%	$0
Wells Fargo vs Presidential Bank	4.00%	$5,000
Wells Fargo vs Quontic Bank	3.75%	$100
Wells Fargo vs Salem Five Direct	3.71%	$10
Wells Fargo vs Santander Bank	0.01%	$25
Wells Fargo vs SoFi Bank	4.30%	$0
Wells Fargo vs Synchrony Bank	3.65%	$0
Wells Fargo vs TIMBR	4.40%	$1,000
Wells Fargo vs UFB Direct	3.71%	$5000
Wells Fargo vs Valley Direct	4.10%	$1,000
Wells Fargo vs Varo Bank	5.00%	$0
Wells Fargo vs Vio Bank	4.16%	$100
Wells Fargo vs Wealthfront	4.15%	$0
Wells Fargo vs Zynlo Bank	4.05%	$10