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.
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CIT Bank | Ally Bank | |
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CIT Bank Money Market Account - | Online Savings Account - 0.90% APY - | |
Benefits and Features | ||
Savings | Savings Builder up to 0.65% APY with $25,000+ balance or $100 monthly deposit. | |
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 | ||
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 excellent rates and no monthly fees... | Solid online bank with a great user-friendly website and customer service... |
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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. 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. |
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: 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.