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 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.

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, reviews, pros and cons.

	CIT Bank	Ally Bank


	SPECIAL OFFER CIT Bank Money Market Account - Learn More Read CIT Bank Review	SPECIAL OFFER Online Savings Account - 0.90% APY - Learn More Read Ally Bank Review
	Benefits and Features
Savings	Savings Builder up to 0.65% APY with $25,000+ balance or $100 monthly deposit.	0.90% APY
CD	Term CDs up to 0.50% APY. $1,000 minimum opening deposit.	0.50% to 2.50% APY. Terms of 3 months to 5 years. 12-month CD APY of 1.50%
Checking	eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000	0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000
Money Market	0.85% APY	0.90% APY
Customer Service	Monday - Friday: 9:00 am - 9:00 pm (ET) Saturday: 10:00 am - 6:00 pm (ET) Sunday: Closed	24/7
ATMs		Over 43,000 no-fee Allpoint ATMs
Locations	Online Only	Online Only
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: High yield No monthly service fees Low opening deposits Cons: No physical locations No check writing	Pros: CD options No account minimums Good customer service Cons: Low Checking APY for lower balance customers
Bottom Line	Solid online bank with excellent rates and no monthly fees... Read full review	Solid online bank with a great user-friendly website and customer service... Read full review

	CIT Bank Money Market Account CIT Bank Money Market Account CIT Savings Builder - 0.65% APY	Online Savings Account - 0.90% APY Interest Checking Money Market - 0.90% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. CIT Bank: Pricing information and data points from published website as of 06/29/2021 Ally Bank: Pricing information from published website as of 06/14/2022.

Member FDIC

Money Market Account - Get a Year of Amazon Prime

Learn More

Expires 9/23/2022

To get your year of Amazon Prime ($139 cash value):

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.

After 60 days, if you've fulfilled the requirements, CIT will send you an email with your Prime membership code. Existing Amazon Prime members can use the one year of Amazon Prime to renew their membership for an additional year. Limit one Money Market promotion per account and per customer. Conditions apply. See advertiser website for details.

Member FDIC

CIT Bank Money Market Account - 0.85% APY

Learn More

0.85% APY
$100 minimum opening deposit
No monthly maintenance fee

Member FDIC

CIT Savings Builder - 0.65% APY

Learn More

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: 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 Chase.

In short: CIT Bank's money market is outstanding. Ally Bank's customer service is outstanding.

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 Savings Builder Review

If you can save $100 per month, you can earn a high interest rate with CIT Bank Savings Builder. Find out if this bank is any good.

CIT Bank CD Rates

CIT Bank is trustworthy. But does CIT have the best CD rates right now? Find out how CIT Bank's interest rate compares.

CIT Bank Savings Builder vs Money Market

CIT Bank offers both money market and savings accounts. But which is better to keep your money safe? Find out how to choose between the two.

CIT Bank Savings Connect vs Savings Builder

CIT Bank has even more ways to save now. Savings Connect and Savings Builder both offer competitive rates. Find out the bank account that is best for you.

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.

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 Login

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

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 Routing Number

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

CIT Bank Locations

CIT Bank is an online only bank with no physical branches. Find out how to manage your account, reach customer service, and the bank's current offers.

Articles on Ally Bank

Ally Bank Review

Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.

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.