BMO Bank vs CIT Bank
BMO Bank is a midwest bank with options for low and high-balance customers. How does it compare to CIT Bank? Read our comparison chart below.
BMO Bank has over 600 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.
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 BMO Bank with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
BMO Bank | CIT Bank | |
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BMO Smart Advantage Checking - $250 Cash Bonus - | CIT Bank Platinum Savings - | |
Benefits and Features | ||
Savings | 0.01% APY. $5 reward every month you save $200 or more, for the first year. | 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 |
CD | 0.05% - 4.90% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. | Term CDs up to 5.00% APY. $1,000 minimum opening deposit. |
Checking | Smart Advantage, Smart Money, Relationship | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 |
Money Market | 1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
Mobile App | ||
ATMs | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) | |
Customer Service | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed |
IRA CD | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | |
IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Midwest bank with options for low and high-balance customers... | Solid online bank with excellent rates and no monthly fees... |
Visit Site | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO Bank: Pricing information from published website as of 03/15/2024 based on 60603 zip code. CIT Bank: Pricing information and data points from published website as of 03/15/2024. |
BMO Smart Advantage Checking - $250 Cash Bonus
Open a new BMO Smart Advantage Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Smart Money Checking - $250 Cash Bonus
Open a new BMO Smart Money Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Relationship Checking - $400 Cash Bonus
Open a new BMO Relationship Checking account and get a $400 cash bonus when you have a cumulative total of $7,500 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
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 Savings Connect - 4.65% APY
- Earn 11x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- 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
Term | CD Rates |
---|---|
6 Month | 5.00% 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 |
Which is Better: BMO 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 BMO Bank or Chase.
In short: CIT Bank's savings and money market are notable. In particular, the savings is outstanding.