INSANE! CIT Bank vs SoFi HYSA Comparison. Which is BETTER? | Best High Yield Savings 2024
ฝัง
- เผยแพร่เมื่อ 30 ก.ค. 2024
- 🏦 SoFi Checking & Savings (up to $325 Bonus): alexisidro.com/SoFi
Detailed comparison between SoFi and CIT Bank High Yield Savings Account (HYSA), we go over the best features and which is best for YOU?
A few notes:
Today we compare SoFi and CIT Bank High Yield Savings Account (HYSA), and which gives the best benefits, and this is coming from someone who's used both of these organizations in the past. We go over the interest rate, maintenance fees, minimum deposits, and overall, which is better in my personal opinion and experience. Al of this with the hopes of helping you make better decisions for yourself, and improve your personal finance (remember, I'm not a financial advisor).
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Helpful links and resources:
BANKS:
🏦 SoFi Checking & Savings (up to $325 Bonus): alexisidro.com/SoFi
🏦 Marcus by Goldman Sachs Savings (1% Additional APY Bonus for 3 months):
alexisidro.com/marcus
BUDGETING APP I RECOMMEND:
Track, save, and take control of your money: alexisidro.com/Quicken
CREDIT CARDS I USE:
💳 Chase Sapphire Preferred (for Travelers): alexisidro.com/Chase
💳 Capital One Quicksilver (for Beginners building credit): alexisidro.com/Quicksilver
Times:
0:00 Sofi vs CIT Bank
1:01 HYSA Requirements
1:51 Best feature comparison
10:18 Head to head
11:20 Which would I recommend to my mom? :)
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New to the channel? Hello! My name is Alex. Welcome.
I’m a father, husband, engineering professional and online entrepreneur/content creator based in the Washington, DC area.
I have 11+ years of professional experience, four years+ of social media (15,000+ subscribers in the channels I own), and I’ve been a career consultant and mentor for the last four years. I’ve helped clients get jobs in different industries and get them into high profile organizations like Amazon, Northrop Grumman, and Government.
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DISCLAIMER:
I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
AFFILIATE DISCLAIMER:
Some of the card or bank links and other products that appear on this website may be from companies for which Alex Isidro will earn an affiliate commission or referral bonus. This means that if you click on one of the product links, I may receive a commission. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
My opinions and reviews are my own personal views and are not influenced by whether or not I earn a commission. I only recommend products I've used or which I would recommend to my mom! :)
🏦 SoFi Checking & Savings (up to $325 Bonus): alexisidro.com/SoFi
BUDGETING APP I RECOMMEND:
Track, save, and take control of your money: alexisidro.com/Quicken
Thanks for this. Opening CIT first thing tomorrow.
Great! Why did you go for CIT?
@@alexisidro I didn’t need any of the extra features SoFi offers. I just need something to just deposit with high APY. Plus I wasn’t sold with opening SoFi account with direct deposit. This helped me a lot whereas I was stuck between the two.
Man this was exactly what I was looking for. So thorough yet specific. Thanks a ton for putting this together!
Glad it was helpful! Which did you end up choosing?
@@alexisidro I still haven't made my decision. I'm still weighing my options with the information you provided tbh
Sounds good! Any questions I can help answer, you let me know!
I am going with CIT
Great! Other than the APY, what else did you like about it?
I don't like how SoFi requires you to have a Direct Deposit to get the high APY.
CIT-Platinum is the winner for me in this comparison.
Sounds good! Let me know how you like it! CIT is a good choice for sure.
ive had CIT for 1 year with 230k - they never missed a beat. easy money ....
That's wonderful! What do you like about it the most
Like you mentioned in the video they have a super simple account dashboard and maybe the simple features makes them about to share a most consistent rate of return... i worry that other HYS ive heard start dropping the rates after a few months. @@alexisidro
Do they offer an ATM card?
If you have the checking account, yes.
They offer it with the Savings Connect @ 4.65%@@alexisidro
I recommend SOFI because they have ATM’s everywhere!! Walgreens, Rite Aid, Duane Reade, McDonald’s 7-Eleven and many other places! I’m also considering to put my money in UFB direct bank 5.25 % interest!
Thank you for sharing!
Do any of these banks charge a fee or make it difficult to close an account?
From the ones I've seen, they're usually easy to close. Of course, i can only speak to the ones I've used.
SOFI now has Zelle. Does CIT?
Do these banks charge fees for transferring money out of the high yield savings account to another account in a different bank?
Also, what is the process and fees to transfer money to these banks from another bank account (e.g. Bank of America)?
Unless it’s a wire transfer, there shouldn’t be ANY fees when transferring money from bank to bank.
You just set up your account and that’s it. You can transfer.
Wire transfers are usually charged to the sender. There’s a small fee which depends on the organization.
I'm not sold on SoFi
I’m curious, what do you like or not like?