Ally Bank vs CIT Bank
Ally Bank is a solid online bank with a great user-friendly website and customer service. How does it compare to CIT Bank? Read our comparison chart below.
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.
While 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.
Compare Ally Bank with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Ally Bank | CIT Bank | |
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Online Savings Account - 3.30% APY - | CIT Bank Savings Connect - | |
Benefits and Features | ||
Savings | Savings Connect: 4.05% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit. | |
CD | 2.00% to 4.35% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.25% | Term CDs up to 4.65% APY. $1,000 minimum opening deposit. |
Checking | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 |
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 a great user-friendly website and customer service... | Solid online bank with excellent rates and no monthly fees... |
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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. Ally Bank: Pricing information from published website as of 01/25/2023. CIT Bank: Pricing information and data points from published website as of 10/18/2022. |
CIT Bank Savings Connect - 4.05% APY
- Earn 12x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
CIT Bank Term CDs - Up to 4.65% APY
- Up to 4.65% APY
- $1,000 minimum opening deposit
- No monthly maintenance fee
Term | CD Rates |
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6 Month | 4.15% APY |
1 Year | 0.30% APY |
13 Month | 4.65% APY |
18 Month | 4.60% APY |
2 Year | 0.40% APY |
3 Year | 0.40% APY |
4 Year | 0.50% APY |
5 Year | 0.50% APY |
CIT Bank No Penalty CD - 4.10% APY
- 4.10% APY
- Option to withdraw full balance and interest after 7 days of CD funding date
- $1,000 minimum to open an account
- 11 months
- No monthly maintenance fee
Which is Better: Ally Bank or CIT Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Ally Bank or Chase.
In short: Ally Bank's customer service and mobile app are outstanding. CIT Bank's savings is outstanding.