Ally Bank vs CIT Bank
Ally Bank is a solid online bank with a great user-friendly website and customer service. How does it compare to CIT Bank? Read our comparison chart below.
Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.
While CIT Bank offers savings accounts and multiple CDs, including a no-penalty CD. Savings and Money Market account requires $100 minimum deposit, while term CDs require $1,000 minimum deposit. There are no monthly service fees.
Compare Ally Bank with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Ally Bank | CIT Bank | |
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Online Savings Account - 0.90% APY - | CIT Bank Money Market Account - | |
Benefits and Features | ||
Savings | Savings Builder up to 0.65% APY with $25,000+ balance or $100 monthly deposit. | |
CD | 0.50% to 2.50% APY. Terms of 3 months to 5 years. 12-month CD APY of 1.50% | Term CDs up to 0.50% APY. $1,000 minimum opening deposit. |
Checking | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 |
Money Market | ||
Customer Service |
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ATMs | Over 43,000 no-fee Allpoint ATMs | |
Locations | ||
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Pros & Cons | Pros:
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Bottom Line | Solid online bank with a great user-friendly website and customer service... | Solid online bank with excellent rates and no monthly fees... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Ally Bank: Pricing information from published website as of 06/14/2022. CIT Bank: Pricing information and data points from published website as of 06/29/2021 |
Money Market Account - Get a Year of Amazon Prime
- Open a new Money Market account using promo code AMZN22.
- Fund your account with $15,000 within 15 days.
- Keep a minimum balance of $15,000 for 60 days.
CIT Bank Money Market Account - 0.85% APY
- 0.85% APY
- $100 minimum opening deposit
- No monthly maintenance fee
CIT Savings Builder - 0.65% APY
Earn up to 0.65% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC
Which is Better: Ally Bank or CIT Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Ally Bank or Chase.
In short: Ally Bank's customer service is outstanding. CIT Bank's money market is outstanding.