CIT and Bask are rate-chaser favorites that often top the APY tables. CIT tiers its top rate to a balance threshold; Bask keeps it flat. Here's which fits your balance level.
First-Citizens Bank & Trust Company
Highest APY in market — at a $5,000 minimum balance.
Pros
Texas Capital Bank, N.A. (FDIC insured)
Top-tier base APY with boosts — a no-gimmick rate from a Texas Capital Bank-backed online bank.
Pros
Pick CIT Bank Platinum Savings if: Savers with $5K+ to park who want the absolute maximum APY available.
Pick Bask Bank Interest Savings if: Rate-maximizers who want a no-frills savings account with one of the highest base APYs and no rate tricks.
Apply at First-Citizens Bank & Trust Company →Apply at Texas Capital Bank, N.A. (FDIC insured) →
Yes — CIT Bank Platinum Savings applies its highest APY tier only to balances at or above a published threshold (currently $5,000; verify the current threshold at cit.com). Balances below that threshold earn a lower rate. Bask Bank Interest Savings applies a single flat APY to the full balance regardless of amount, making it simpler for savers who can't consistently keep the balance at CIT's tier threshold.
Yes — both are FDIC-insured. CIT Bank is CIT Bank, N.A., a federally chartered bank, member FDIC. Bask Bank is a division of Texas Capital Bank, N.A., member FDIC. FDIC insurance covers deposits up to $250,000 per depositor, per insured bank, per ownership category — the standard limit for any FDIC-member institution (FDIC.gov). Neither account charges a monthly maintenance fee.
Yes — there is no rule preventing you from holding savings accounts at multiple FDIC-insured banks. Some depositors open both: keeping the minimum needed to earn CIT Platinum's top tier at CIT while keeping the remainder at Bask (or another high-yield account) to maximize blended yield. Each account is separately FDIC insured up to $250,000. Opening both is a common rate-optimization strategy among high-yield savings rate chasers.
Yes — Bask Bank offers two savings products: the Bask Interest Savings Account (earns cash interest at a competitive APY) and the Bask Mileage Savings Account (earns American Airlines AAdvantage miles at a rate tied to your balance instead of cash interest). The mileage option targets frequent American Airlines flyers who value miles at above-market rates; the interest option is better for savers who don't fly American Airlines regularly. CIT Bank offers only cash interest — no miles-based savings product. Verify current mileage earn rates and interest APYs at baskbank.com.
Yes — both offer mobile apps for iOS and Android. CIT Bank's mobile app supports transfers, mobile deposit, and account management. Bask Bank's mobile app supports transfers and account viewing. Neither offers branch access (both are online-only institutions), so mobile and web are the primary service channels. Customer service for both is available via phone and secure message; verify current app reviews in the App Store or Google Play before opening an account.
CIT Bank is the stronger fit for customers who want savings and checking under one roof — it offers a CIT Bank eChecking account alongside its high-yield savings and money market products. Bask Bank is savings-and-CD focused and does not offer a checking account. If you want to consolidate everyday banking and high-yield savings at a single online bank, CIT Bank provides the more complete ecosystem; Bask Bank is better suited as a dedicated savings parking spot paired with checking at another institution.
Independent editorial comparison. ClearValue Lending is not the issuer of any product compared here; affiliate links may pay a referral commission at no cost to you — selection is independent of compensation.