CreditDonkey is a bank comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†





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 BankAlly Bank
 Visit SiteLearn More
 

CIT Bank

Ally Bank

SPECIAL OFFER
CIT Bank Savings Builder - Up to $300 Bonus - Learn More

Read CIT Bank Review

SPECIAL OFFER
Online Savings Account - Learn More

Read Ally Bank Review

 

Benefits and Features

SavingsSavings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.1.70% APY. No monthly service fee and no minimum deposit.
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.0.75% to 2.25% APY. Terms of 3 months to 5 years. 12-month CD APY of 2.00%. No minimum deposit to open.
CheckingeChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,0000.10% APY under $15,000; 0.50% APY $15,000 or more. No monthly service fee and no minimum deposit. Ally will refund ATM fees for other banks up to $10 per statement cycle.
Money Market1.85% APY. $100 minimum deposit. No monthly maintenance fee.0.75% APY. No monthly service fee and no minimum deposit.
Customer ServiceMonday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
24/7
ATMs Over 43,000 no-fee Allpoint ATMs
Locations
Online Only
Online Only
 

CreditDonkey® Reviews

 CIT BankAlly Bank
Savings
Money Market
Customer Service
Mobile App
Checking
Pros & ConsPros:
  • High APY
  • No minimum deposit for savings
  • No monthly service fees
Cons:
  • No checking accounts
  • No ATM card
Pros:
  • CD options
  • No account minimums
  • 24/7 customer service
Cons:
  • Low Checking APY for lower balance customers
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewSolid online bank with a great user-friendly website and customer service... Read full review
 Visit SiteLearn More
What Others View

    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 from published website as of 10/1/2019

    Ally Bank: Pricing information from published website as of 11/17/2019.

    Which is Better: CIT Bank or Ally Bank?

    Still need help deciding which bank 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 Review

      Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.

      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 CD Rates

      CIT Bank is known for competitive interest rates on savings products. How are their CD rates? Find out the current rates and how they compare.

      CIT Bank Savings Builder Review

      If you can save just $100 per month, you can earn a high APY with CIT Bank's Savings Builder. Find out if this bank is good for you.

      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


    Which Do You Think is Best?


    You Might Also Like

      Best High Yield Savings Accounts

      Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.

      Best Online Bank

      Online banks are convenient, pay higher interest rates, and have less fees. Read on for our list of the best online banks for your money.

      How to Choose a Bank

      The right bank for you depends on your needs. Do you want easy access, low fees, or good interest rates? Here's how to choose the best bank for you.

      Top 5 Best CD Rates

      CD accounts are fully secured and risk-free. Plus, they offer higher interest rates than traditional savings accounts. Read on for our list of the best high interest CDs to help you start saving.

      Top 10 Best Online Savings Account

      The best online savings accounts pay a good interest rate, are fully secured, and allow for flexibility. Find the best high interest savings accounts to consider.

    Compare CIT Bank to:


    You might also be interested in

    Chase Bank Total Checking

    Chase Total Checking has a big bonus coupon code. But are the fees worth it? Read this review to see the requirements and how it compares.

    Compare Ally Bank to:


    Next Page:

    About CreditDonkey®
    CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

    Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

    †Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

    *See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

    CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.