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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.

 CIT Bank
Member FDIC
 Learn MoreVisit Site
 

Ally Bank

CIT Bank

SPECIAL OFFER
Online Savings Account - 4.35% APY - Learn More

Read Ally Bank Review

SPECIAL OFFER
CIT Bank Platinum Savings - Learn More

Read CIT Bank Review

 

Benefits and Features

Savings
4.35% APY
Platinum Savings: 5.05% APY with a balance of $5,000 or more
Savings Connect: 4.65% APY
Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit
CD3.00% to 4.65% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.65%Term CDs up to 5.00% APY. $1,000 minimum opening deposit.
Checking0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000
Money Market
4.40% APY
1.55% APY
Mobile App
iOS & Android
iOS & Android
ATMsOver 43,000 no-fee Allpoint ATMsNo ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account)
Customer Service
24/7
Mon - Fri: 9 am - 9 pm ET
Sat: 10 am - 6 pm ET
Sunday: Closed
Locations
Online only
Online Only
 

CreditDonkey® Reviews

 CIT Bank
SavingsStarStarStarStarEmpty StarStarStarStarStarStar
CheckingStarStarStarStarEmpty StarStarStarStarStarHalf Star
Money MarketStarStarStarStarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Pros & ConsPros:
  • CD options
  • No account minimums
  • Good customer service
Cons:
  • Low Checking APY for lower balance customers
Pros:
  • High savings APY
  • No monthly fees
  • Low opening deposits
Cons:
  • No check writing
Bottom LineSolid online bank with a great user-friendly website and customer service... Read full reviewSolid online bank with excellent rates and no monthly fees... Read full review
 Learn MoreVisit Site

Ally Bank: Pricing information from published website as of 02/16/2024.

CIT Bank: Pricing information and data points from published website as of 02/07/2024.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.05% APY

  • 5.05% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
CIT Bank
Member FDIC

CIT Bank Savings Connect - 4.65% APY

  • Earn 11x the national average
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
CIT Bank
Member FDIC

CIT Bank Term CDs - Up to 5.00% APY

  • Up to 5.00% APY
  • $1,000 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

TermCD Rates
6 Month5.00% APY
1 Year0.30% APY
13 Month4.65% APY
18 Month4.60% APY
2 Year0.40% APY
3 Year0.40% APY
4 Year0.50% APY
5 Year0.50% APY

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 mobile app and customer service are outstanding. CIT Bank's savings 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 High Yield Savings Review

Ally Savings offers a strong APY and various savings tools to help you boost your funds. Read on to find out more.

Ally Bank Problems

Ally Bank is well-known for having attractive APYs and practically no fees. But, what's the catch? Read on to know what nuisances you may encounter.

Ally Money Market vs Savings

Ally's Money Market and Savings accounts boast high APYs with no hidden fees. But, how do they differ? Read on to find out.

Ally Bank CD Rates

Ally Bank CD accounts offer high APYs and require no minimum deposit. But what is the catch? Learn more about Ally CD rates in this review.

Ally Bank Routing Number

Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.

Articles on CIT Bank

CIT Bank Money Market Review

CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.

CIT Bank CD Rates

CIT Bank is a well-known online bank with high savings interest rates. Find out how CIT Bank's CD rates compares to other trustworthy banks.

Who is CIT Bank

CIT Bank offers accounts with high interest rates and low fees. But just who is CIT Bank? And should you trust them with your money?

CIT Bank Platinum Savings vs Savings Connect

CIT Platinum Savings is CIT Bank's newest savings account. It advertises a higher APY. Check out how it works and how it compares to Savings Connect.

CIT Bank Savings Connect vs Savings Builder

CIT Bank has even more ways to save now. Savings Connect and Savings Builder both offer competitive rates. Find out the bank account that is best for you.

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 Locations

CIT Bank is an online bank that offers a variety of savings products. Find out how to manage your account, reach customer service, and the bank's current offers.

CIT Platinum Savings

CIT Platinum Savings Account boasts a higher APY than its other savings accounts. But there's a slight catch. Read on to learn how to get the highest APY.

CIT Bank No Penalty CD Review

CIT Bank offers a CD account that has no penalty for early withdrawal. Read on to learn about the APY and any requirements or fees that come with it.

CIT Bank High Yield Savings Review

CIT Bank savings accounts offer some of the highest APYs with minimal requirements. Read on to learn how CIT can help you grow your money.

CIT Bank Savings Builder vs Money Market

CIT Bank offers both money market and savings accounts. But which is better to keep your money safe? Find out how to choose between the two.

What is CIT Bank

In the modern world, there are some things you just don't have to do anymore. Like drawing water from a well. Or paying fees just to keep your bank account open.

CIT Bank Login

Forgot your CIT Bank username? We'll show you how to login your online bank account.

CIT Bank Savings Builder Review

If you can save $100 per month, you can earn a high interest rate with CIT Bank Savings Builder. Find out if this bank is any good.

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.

Which Do You Think is Best?





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