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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 BankAlly Bank
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CIT Bank

Ally Bank

SPECIAL OFFER
CIT Savings Builder - Earn 1.25% APY - Learn More

Read CIT Bank Review

SPECIAL OFFER
Online Savings Account - 1.25% APY - Learn More

Read Ally Bank Review

 

Benefits and Features

SavingsSavings Builder up to 1.25% APY with $25,000+ balance or $100 monthly deposit.
1.25% APY
CDTerm CDs up to 1.35% APY. $1,000 minimum opening deposit.0.50% to 1.35% APY. Terms of 3 months to 5 years. 12-month CD APY of 1.25%
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,0000.10% APY under $15,000; 0.50% APY $15,000 or more
Money Market
1.30% APY
0.50% APY
Customer ServiceMonday - 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

 CIT BankAlly Bank
Savings
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • 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 LineSolid online bank with excellent rates and no monthly fees... Read full reviewSolid online bank with a great user-friendly website and customer service... Read full review
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What Others View

    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 05/14/2020

    Ally Bank: Pricing information from published website as of 05/29/2020.

    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


    Articles on Ally Bank


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