Chime vs. CIT Bank
Chime's Chime High-Yield Savings Account advertises 3.75% APY.
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, Chime's Chime High-Yield Savings Account and CIT Bank's Platinum Savings earn the same: about $375 in a year each.
The Chime and CIT Bank savings accounts are very similar. Choose CIT Bank if you want Zelle for quick transfers.
Important Considerations
Chime's Chime High-Yield Savings Account advertises its top rate only if you also open a checking account with Chime, while CIT Bank's Platinum Savings stands alone.
| Metric | ChimeChime High-Yield Savings Account Oct 5, 2026 | CIT BankPlatinum Savings Oct 5, 2026 |
|---|---|---|
| APY | 3.75% | 3.75%Needs at least $5,000 |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $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 AppDirect Deposit ReqChecking BundleDaily Compounding | 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.
Executive Summary
Chime last changed on April 30, 2026, up 75 basis points; CIT Bank last changed on February 4, 2026, up 10 basis points. Both banks offer the same standard rate of 3.75% at a balance of $10,000. Chime's High-Yield Savings Account has no minimum balance requirement, while CIT Bank's Platinum Savings requires a minimum of $5,000. Each bank's rate has not changed since at least their respective series start dates, with Chime's beginning on February 17, 2026, and CIT Bank's starting on January 21, 2026.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chime?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- No checking account or direct deposit required
- Offers 2 different high-yield savings options
- Fast transfers via Zelle®
Key Feature Differences
Better for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. CIT Bank Savings Calculator
Both accounts earn exactly the same amount.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
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 $370 a year in interest.
Both Chime and CIT Bank advertise far more than that typical branch-bank rate.
| Feature | Chime | CIT Bank |
|---|---|---|
| APY | 3.75% Observed: 10/5/2026 Stable over 90 days | 3.75% Range: 0.25% - 3.75% Observed: 10/5/2026 Stable over 90 days |
| Product Name | Chime High-Yield Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0.01 | $5,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branches | None | None |
| Physical Branches | Not reported | Not reported |
| Direct Deposit Req. | Required | None |
| Checking Bundle | Yes | 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 Chime 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.
Chime
Chime 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
Chime 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% |
Chime: 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.
Chime
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.
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