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CIT Bank vs Ally Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Ally Bank? Read our comparison chart below.

CIT Bank is an online division of First Citizens Bank. It's known for high interest rates on its savings accounts and CDs. In addition, it offers an eChecking account. All accounts have no monthly service fees.

While 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.

Compare CIT Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings and reviews.

 CIT Bank
Member FDIC
 Visit SiteLearn More
 

CIT Bank

Ally Bank

SPECIAL OFFER
CIT Bank Platinum Savings - Learn More

Read CIT Bank Review

SPECIAL OFFER
Online Savings Account - 3.80% APY - Learn More

Read Ally Bank Review

 

Benefits and Features

SavingsPlatinum Savings: 4.35% APY with a balance of $5,000 or more
Savings Connect: 4.00% APY
Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit
3.80% APY
CDTerm CDs up to 3.50% APY. $1,000 minimum opening deposit.2.90% to 4.10% APY. Terms of 3 months to 5 years. 12-month CD APY of 3.90%
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,0000.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000
Money Market
1.55% APY
3.80% APY
Mobile App
iOS & Android
iOS & Android
ATMsNo ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account)75,000+ no-fee Allpoint and MoneyPass ATMs
Customer ServiceMon - Fri: 9 am - 9 pm ET
Sat: 10 am - 6 pm ET
Sunday: Closed
24/7
Locations
Online Only
Online only
 

CreditDonkey® Reviews

 CIT Bank
SavingsStarStarStarStarStar
CheckingStarStarStarStarHalf Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty Star
Pros & ConsPros:
  • High savings APY
  • No monthly fees
  • Low opening deposits
Cons:
  • No check writing
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full review Read full review
 Visit SiteLearn More

CIT Bank: Pricing information and data points from published website as of 12/04/2024.

Ally Bank: Pricing information from published website as of 12/10/2024.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 4.35% APY

  • 4.35% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
CIT Bank
Member FDIC

CIT Bank Savings Connect - 4.00% APY

  • Earn 9x the national average
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
CIT Bank
Member FDIC

CIT Bank Term CDs - Up to 3.50% APY

  • Up to 3.50% APY
  • $1,000 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

TermCD Rates
6 Month3.00% APY
1 Year0.30% APY
13 Month3.50% APY
18 Month3.00% APY
2 Year0.40% APY
3 Year0.40% APY
4 Year0.50% APY
5 Year0.50% APY

Which is Better: CIT Bank or Ally Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing CIT Bank or Discover Bank.


Articles on CIT Bank

CIT Bank Money Market Review

CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.

CIT Bank CD Rates

CIT Bank is a well-known online bank with high savings interest rates. Find out how CIT Bank's CD rates compares to other trustworthy banks.

Who is CIT Bank

CIT Bank offers accounts with high interest rates and low fees. But just who is CIT Bank? And should you trust them with your money?

CIT Bank Platinum Savings vs Savings Connect

CIT Platinum Savings is CIT Bank's newest savings account. It advertises a higher APY. Check out how it compares to Savings Connect. Get a higher rate now.

CIT Bank Complaints

CIT Bank offers a high APY. But there are some downsides, too. Read on to learn more about CIT Bank common complaints and possible solutions.

CIT Bank Locations

CIT Bank is an online bank that offers a variety of savings products. Find out how to manage your account, reach customer service, and the bank's current offers.

CIT Platinum Savings

CIT Platinum Savings Account boasts a higher APY than its other savings accounts. But there's a catch. Read on to learn how to get the highest APY.

CIT Bank No Penalty CD Review

CIT Bank offers a CD account that has no penalty for early withdrawal. Read on to learn about the APY and any requirements or fees that come with it.

CIT Bank High Yield Savings Review

CIT Bank savings accounts offer some of the highest APYs with minimal requirements. Read on to learn how CIT can help you grow your money.

What is CIT Bank

In the modern world, there are some things you just don't have to do anymore. Like drawing water from a well. Or paying fees just to keep your bank account open.

CIT Bank Login

Forgot your CIT Bank username? We'll show you how to login your online bank account.

CIT Bank Routing Number

Want to transfer money in or out of your CIT Bank account? Read this review to find your ABA routing number.

Articles on Ally Bank

Ally No Penalty CD

Ally Bank's No Penalty CD offers a competitive APY without early withdrawal penalties. Learn more about this CD here.

Ally Bank Locations

Ally is an excellent online bank with no physical locations. So, how can you access your funds? Read on to find out.

Ally High Yield Savings

Ally Savings offers a strong APY and various savings tools to help you boost your funds. Read on to find out more.

Ally Bank Problems

Ally Bank is well-known for having attractive APYs and practically no fees. But, what's the catch? Read on to know what nuisances you may encounter.

Ally Money Market vs Savings

Ally's Money Market and Savings accounts boast high APYs with no hidden fees. But, how do they differ? Read on to find out.

Ally Bank CD Rates

Ally Bank CD accounts offer high APYs and require no minimum deposit. But what is the catch? Learn more about Ally CD rates in this review.

Ally Bank Routing Number

Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.

Which Do You Think is Best?


Which Bank Account is Right for You?


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