Betterment vs. CIT Bank
Betterment's Cash Reserve advertises up to 4.25% APY. That 4.25% is a promotional rate. The account advertises 3.50% after it ends. New customer offer. On a $10,000 balance the account earns 3.50% overall, about $350 in a year.
CIT Bank's Platinum Savings advertises 3.75% APY. The 3.75% needs a balance of at least $5,000. Below that, the account advertises 0.25%.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
On a $10,000 balance, CIT Bank's Platinum Savings earns about $25 more in a year than Betterment's Cash Reserve: $375 against $350.
Choose CIT Bank if getting the best rate matters most, you want to avoid a promo rate with a scheduled drop, or you want Zelle for quick transfers.
Important Considerations
Betterment's 4.25% APY is a promotional rate, then 3.50%. CIT Bank's 3.75% APY has no scheduled end, though every rate can change.
| Metric | BettermentCash Reserve Oct 5, 2026 | CIT BankPlatinum Savings Oct 5, 2026 |
|---|---|---|
| APY | Up to4.25%Promotional rate | 3.75%Needs at least $5,000 |
Earns in a year | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min. Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account, where the stated APY requires meeting the $5,000 balance requirement. Lower balances earn a lower APY. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingStable Rate |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.36% APY.
Comparison Analysis
Comparing Betterment vs. CIT Bank
Executive Summary
Betterment last changed its rate on September 21, 2026, up 25 basis points, while CIT Bank last changed its rate on February 4, 2026, up 10 basis points. Betterment offers a standard rate of 3.5% on balances of $10 or more, and its effective rate at $10,000 is also 3.5%. CIT Bank's standard rate is 3.75% on balances of $5,000 or more, and it maintains this rate at $10,000. CIT Bank has led since March 6, 2026, with a gap of 25 basis points between the two banks.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Betterment?
- Higher potential APY (4.25% vs 3.75%) (promotional rate)
Why CIT Bank?
- Offers 2 different high-yield savings options
- Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $350/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $875/yr).
Better for Simplicity
BettermentBetterment's Cash Reserve offers 4.25% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $25 more interest on a $10,000 balance than Betterment's Cash Reserve.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Betterment vs. CIT Bank Savings Calculator
You earn $25 more with CIT Bank than Betterment 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.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $345 a year in interest.
Both Betterment and CIT Bank advertise far more than that typical branch-bank rate.
| Feature | Betterment | CIT Bank |
|---|---|---|
| APY | 4.25% Range: 3.50% - 4.25% Observed: 10/5/2026 0.25%90-day change | 3.75% Range: 0.25% - 3.75% Observed: 10/5/2026 Stable over 90 days |
| Product Name | Cash Reserve | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $5,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | Daily |
| Branches | None | None |
| Physical Branches | Not reported | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Supported for eChecking users post-First Citizens merger. |
| BBB Rating | A- | A+ |
| Important Notes | - | This is a tiered savings account, where the stated APY requires meeting the $5,000 balance requirement. Lower balances earn a lower APY. |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at CIT Bank Non-sponsored link to official site |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
Betterment
Betterment is not a bank and files no call report. Its deposits are held at partner banks.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
CIT Bank
The two figures answer different questions, so they sit side by side and are not combined. The 3.75% needs a balance of at least $5,000. Below that, the account advertises 0.25%.
In Q2 2026, First-Citizens Bank&Trust Company paid a higher average rate on savings and money market deposits than 93% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
CD rates, term by term
Betterment has no CD listed on Banksparency. CIT Bank lists 9 CD terms, from 6 to 60 months. Its highest rate is 4.00% APY on the 12-month CD. Each row below is one term, with the FDIC national average for that term beside it.
| Term | CIT Bank APY | FDIC average (Sep 2026) |
|---|---|---|
| 12 months | 4.00% APY$1,000 minimum | 1.73% |
| 6 months | 3.75% APY$1,000 minimum | 1.41% |
| 11 months | 3.90% APY$1,000 minimum | 1.73%12-month average |
| 13 months | 3.25% APY$1,000 minimum | 1.73%12-month average |
| 18 months | 2.75% APY$1,000 minimum | |
| 24 months | 0.40% APY$1,000 minimum | 1.61% |
| 36 months | 0.40% APY$1,000 minimum | 1.36% |
| 48 months | 0.50% APY$1,000 minimum | 1.28% |
| 60 months | 0.50% APY$1,000 minimum | 1.38% |
Betterment: no CD listed on Banksparency.
Money market accounts
A money market account holds a savings balance and adds check or debit card access. The figure each bank advertises is its best APY across every active tier, so the sentence under it says which balance earns that rate.
Betterment
No money market account listed here.
CIT Bank
Money Market
1.55% APY
$100 minimum. As observed Oct 5, 2026.
The FDIC national money market average was 0.63% in Sep 2026.
Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment |
|---|---|
| Cash Reserve | |
Current APY | 4.25% |
Trend | Stable |
Speed of change | 0.08 |
Days Since Change | 14 |
8-Month High | 4.25% |
8-Month Low | 3.25% |
Changes per month | 0.35 |
Steadiness | 0.085 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 255-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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More Comparisons
Compare Betterment's APY of 4.25% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Betterment vs Ally Bank | 3.10% | $0 |
| Betterment vs American Express | 3.10% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.65% | $0 |
| Betterment vs Capital One | 3.10% | $0 |
| Betterment vs Chime | 3.75% | $0 |
| Betterment vs EverBank | 4.20% | $0 |
| Betterment vs Marcus by Goldman Sachs | 3.50% | $0 |
| Betterment vs Newtek Bank | 4.20% | $100 |
| Betterment vs Openbank | 4.15% | $500 |
| Betterment vs Pibank | 4.25% | $0 |
| Betterment vs SoFi Bank | 4.20% | $0 |
| Betterment vs Synchrony Bank | 3.55% | $0 |
| Betterment vs Varo Bank | 3.75% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |