CIT Bank vs Ally Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Ally Bank? Read our comparison chart below.

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.

While 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.

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

	CIT Bank	Ally Bank


	SPECIAL OFFER CIT Bank Money Market Account - 0.60% APY - Learn More Read CIT Bank Review	SPECIAL OFFER Online Savings Account - 0.60% APY - Learn More Read Ally Bank Review
	Benefits and Features
Savings	Savings Builder up to 0.55% APY with $25,000+ balance or $100 monthly deposit.	0.60% APY
CD	Term CDs up to 0.50% APY. $1,000 minimum opening deposit.	0.20% to 1.00% APY. Terms of 3 months to 5 years. 12-month CD APY of 0.65%
Checking	eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000	0.10% APY under $15,000; 0.25% APY $15,000 or more
Money Market	0.60% APY	0.50% APY
Customer Service	Monday - Friday: 9:00 am - 9:00 pm (ET) Saturday: 10:00 am - 6:00 pm (ET) Sunday: Closed	24/7
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: High yield No monthly service fees Low opening deposits Cons: No physical locations No check writing	Pros: CD options No account minimums Good customer service Cons: Low Checking APY for lower balance customers
Bottom Line	Solid online bank with excellent rates and no monthly fees... Read full review	Solid online bank with a great user-friendly website and customer service... Read full review

	CIT Bank Money Market Account - 0.60% APY CIT Savings Builder - Earn 0.55% APY CIT Bank Term CDs	Online Savings Account - 0.60% APY Interest Checking Money Market
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. CIT Bank: Pricing information from published website as of 06/03/2020 Ally Bank: Pricing information from published website as of 10/17/2020.

Which is Better: CIT Bank or Ally Bank?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing CIT Bank or Chase.

In short: CIT Bank's money market is outstanding. Ally Bank's customer service is outstanding.

Articles on CIT Bank

Bank Of Cit

CIT Bank offers a high interest rate. But is it safe? Read this review to find out if what you heard is true.

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 CD Rates

CIT Bank has competitive interest rates on online savings accounts. But how do their CD rates compare? Find out below.

How to Open CIT Bank Application

Opening an account with CIT Bank is simple. Take a look at what you'll need and check out your account options in our guide.

Is CIT Bank Online Only

CIT Bank offers high interest rates and no monthly fees. But is this online bank legit? Find out the details here.

Is CIT Bank Safe

CIT Bank offers online checking and savings with high interest rates and low fees. But is it safe? Find out before you sign up.

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 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 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.

Articles on Ally Bank

Ally Bank Reviews

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 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.