BMO vs CIT Bank

BMO 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 has over 900 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 with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	BMO	CIT Bank
	Member FDIC	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER BMO Smart Advantage Checking account - Earn $400 Cash Bonus* - Learn More Read BMO Review	SPECIAL OFFER CIT Bank Platinum Savings - Learn More Read CIT Bank Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.	Platinum Savings: 4.00% APY with a balance of $5,000 or more Savings Connect: 3.90% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit
CD	0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	Term CDs up to 3.50% 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	Up to 2.68% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.	1.55% APY
Mobile App		iOS & Android
ATMs	40,000+ BMO and Allpoint 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 - 11pm (CT); Sat-Sun 8am - 10pm	Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed
IRA CD	0.05% - 1.25% 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	981 branches	Online Only
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY	Pros: High savings APY No monthly fees Low opening deposits Cons: No check writing
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	Solid online bank with excellent rates and no monthly fees... Read full review
	Visit Site	Visit Site
	BMO Smart Advantage Checking account - Earn $400 Cash Bonus* BMO Smart Money Checking account - Earn $400 Cash Bonus* Savings Account - Up to $60 Bonus	CIT Bank Platinum Savings CIT Bank Savings Connect CIT Bank Term CDs - Up to 3.50% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO: Pricing information from published website as of 06/25/2025 based on 60603 zip code. CIT Bank: Pricing information and data points from published website as of 06/25/2025.

Member FDIC

BMO Smart Advantage Checking account - Earn $400 Cash Bonus*

$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 5/5/25 - 9/8/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 9/8/2025

Member FDIC

BMO Smart Money Checking account - Earn $400 Cash Bonus*

Get Deal

Expires 9/8/2025

Member FDIC

CIT Bank Platinum Savings - 4.00% APY

Learn More

4.00% 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

Member FDIC

CIT Bank Savings Connect - 3.90% APY

Learn More

Earn 9x the national average
$100 minimum opening deposit
No monthly maintenance fee
Member FDIC

Member FDIC

CIT Bank No Penalty CD - 3.50% APY

Get Deal

3.50% 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
Member FDIC

Which is Better: BMO 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 or Chase.

In short: CIT Bank's savings and money market are notable. In particular, the savings is outstanding.

Articles on BMO

BMO Review

BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

BMO Routing Number

If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

BMO Checking Account Bonus & Promotions

BMO rolls out enticing checking offers from time to time to attract new customers. Find the latest bonus deals here.

Who Owns BMO

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Money vs Smart Advantage

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

Is BMO a Real Bank

BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.

Articles on CIT Bank

CIT Bank

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 Savings Connect vs Platinum Savings

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