CIT Bank vs. Ivy Bank
CIT Bank's Platinum Savings pays 3.75% APY while Ivy Bank's High-Yield Savings Account pays 3.85% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Ivy Bank pays $10 more than CIT Bank annually ($385 vs $375).
Choose CIT Bank if you're an Android user (no Android app for Ivy Bank), or you want Zelle for quick transfers.
| Metric | CIT BankPlatinum Savings Sep 10, 2026 | Ivy BankHigh-Yield Savings Account Sep 10, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.85% |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$193 $10,000+$385 $25,000+$963 |
Min. Deposit | $100 | $2,500 |
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 InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingStable Rate | FDIC InsuredMod. MinimumGreat iOS AppDaily 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 4.01% APY.
Executive Summary
CIT Bank held $171,449,000,000 in deposits as of March 31, 2026, while Ivy Bank held $5,516,825,000 on the same date. Ivy Bank has led in the APY since at least January 21, 2026, with its High-Yield Savings Account offering 3.85% at a balance of $10,000. CIT Bank's Platinum Savings offers 3.75% at the same balance, which applies above $5,000. At March 31, 2026, CIT Bank paid 2.69% on average across all deposits, while Ivy Bank paid 2.81% across all deposits.
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 rated Android app (4.7 vs 0.0)
- Offers 2 different high-yield savings options
- Fast transfers via Zelle®
Why Ivy Bank?
No distinct advantages found vs CIT Bank.
Key Feature Differences
Better for Simplicity
Ivy BankIvy Bank's High-Yield Savings Account offers 3.85% APY with no bundling, direct deposit requirement or caps.
Better Mobile App Experience
CIT BankCIT Bank offers an iOS app rated 4.8 (vs. 4.6) and Android app rated 4.7 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $10 more interest on a $10,000 balance than CIT Bank's Platinum Savings.
*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
CIT Bank vs. Ivy Bank Savings Calculator
You earn $10 more with Ivy Bank than CIT Bank 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
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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 CIT Bank and Ivy Bank advertise far more than that typical branch-bank rate.
| Feature | CIT Bank | Ivy Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Observed: 9/10/2026 Stable over 90 days | 3.85% Observed: 9/10/2026 Stable over 90 days |
| Product Name | Platinum Savings | High-Yield Savings Account |
| Minimum Deposit | $100 | $2,500 |
| Min. Balance for APY | $5,000 | $2,500 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA 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 stated APY requires meeting the $5,000 balance requirement. Lower balances earn a lower APY. | - |
| Next Steps | Visit SiteVerify at CIT Bank Non-sponsored link to official site | Visit SiteVerify at Ivy Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Ivy Bank | |
|---|---|---|---|
| Platinum Savings | Savings Connect | High-Yield Savings Account | |
Current APY | 3.75% | 3.65% | 3.85% |
Trend | Stable | Stable | Stable |
Speed of change | -0.01 | -0.01 | -0.06 |
Days Since Change | 294 | 294 | 204 |
10-Month High | 3.85% | 3.75% | 4.25% |
10-Month Low | 3.75% | 3.65% | 3.85% |
Changes per month | 0.10 | 0.10 | 0.30 |
Steadiness | 0.007 | 0.008 | 0.024 |
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 301-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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High Rates (With Checking Bundle)
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More Comparisons
Compare CIT Bank's APY of 3.75% with other banks
Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.00% | $0 |
| Ivy Bank vs American Express | 3.00% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Barclays | 3.65% | $0 |
| Ivy Bank vs Capital One | 3.50% | $0 |
| Ivy Bank vs Chime | 3.75% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $100 |
| Ivy Bank vs Openbank | 3.80% | $500 |
| Ivy Bank vs Pibank | 4.10% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.30% | $0 |
| Ivy Bank vs Varo Bank | 3.75% | $0 |
| Ivy Bank vs Wealthfront | 3.95% | $0 |