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 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.

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

	Ally Bank	CIT Bank
	SPECIAL OFFER Online Savings Account - Learn More Read Ally Bank Review	SPECIAL OFFER CIT Bank Savings Builder - Up to $300 Bonus - Learn More Read CIT Bank Review
	Benefits and Features
Savings	1.70% APY. No monthly service fee and no minimum deposit.	Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
CD	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.	Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
Checking	0.10% 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.	eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000
Money Market	0.75% APY. No monthly service fee and no minimum deposit.	1.85% APY. $100 minimum deposit. No monthly maintenance fee.
Customer Service	24/7	Monday - Friday: 8:00 am - 9:00 pm (ET) Saturday: 9:00 am - 5:00 pm (ET) Sunday: 11:00 am - 4:00 pm (ET)
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: CD options No account minimums 24/7 customer service Cons: Low Checking APY for lower balance customers	Pros: High APY No minimum deposit for savings No monthly service fees Cons: No checking accounts No ATM card
Bottom Line	Solid online bank with a great user-friendly website and customer service... Read full review	Solid online bank with excellent rates and no monthly fees... Read full review
	Online Savings Account Interest Checking Money Market	CIT Bank Savings Builder - Up to $300 Bonus Open a CIT Bank 1.85% APY Savings Builder High Yield Savings Account CIT Bank Savings Builder - $150 Bonus
What Others View	Discover Bank Chase Axos Bank
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 11/17/2019. CIT Bank: Pricing information from published website as of 10/1/2019

Which is Better: Ally Bank or CIT Bank?

Still need help deciding which bank 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 is outstanding. CIT Bank's money market is outstanding.

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 vs Discover Bank
• Ally Bank vs Marcus
• Ally Bank vs Capital One

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 vs Citibank
• CIT Bank vs Synchrony Bank
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.

Which Do You Think is Best?

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