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CIT Bank vs Citibank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Citibank? 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 Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

 CIT Bank
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CIT Bank

Citibank

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

Read CIT Bank Review

SPECIAL OFFER
Citi Priority Package - $700 Bonus - Learn More

Read Citibank Review

 

Benefits and Features

SavingsSavings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.0.04% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
CheckingeChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000 
Money Market1.85% APY. $100 minimum deposit. No monthly maintenance fee.A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
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 Live Customer Service (Telephone)
ATMs 2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.
IRA CD Can convert an IRA to a regular CD account. 0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
IRA Money Market Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Locations
Online Only
700 Citibank branches across 13 states (mostly in California and New York)
 

CreditDonkey® Reviews

 CIT Bank
Savings
Money Market
Customer Service
Mobile App
CD
Checking
Pros & ConsPros:
  • High APY
  • No minimum deposit for savings
  • No monthly service fees
Cons:
  • No checking accounts
  • No ATM card
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewLarge national bank best for high balance customers... Read full review
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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

    Citibank: Pricing information from published website as of 11/15/2019.

    Which is Better: CIT Bank or Citibank?

    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 savings is notable.


    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 Citibank


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