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 Savings Builder - Up to $300 Bonus - Learn More Read CIT Bank Review	SPECIAL OFFER Online Savings Account - Learn More Read Ally Bank Review
	Benefits and Features
Savings	Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.	1.70% APY. No monthly service fee and no minimum deposit.
CD	Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.	0.75% to 2.25% APY. Terms of 3 months to 5 years. 12-month CD APY of 2.00%. No minimum deposit to open.
Checking	eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000	0.10% APY under $15,000; 0.50% APY $15,000 or more. No monthly service fee and no minimum deposit. Ally will refund ATM fees for other banks up to $10 per statement cycle.
Money Market	1.85% APY. $100 minimum deposit. No monthly maintenance fee.	0.75% APY. No monthly service fee and no minimum deposit.
Customer Service	Monday - Friday: 8:00 am - 9:00 pm (ET) Saturday: 9:00 am - 5:00 pm (ET) Sunday: 11:00 am - 4:00 pm (ET)	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 APY No monthly service fees Low opening deposits Cons: No physical locations No check writing	Pros: CD options No account minimums 24/7 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 Savings Builder - Up to $300 Bonus Open a CIT Bank 1.85% APY Savings Builder High Yield Savings Account CIT Bank Savings Builder - $150 Bonus	Online Savings Account Interest Checking Money Market
What Others View		Discover Bank Chase Axos Bank
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 10/1/2019 Ally Bank: Pricing information from published website as of 11/17/2019.

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

CIT Bank Review
Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.
• CIT Bank vs Citibank
• CIT Bank vs Synchrony Bank
• CIT Bank vs Discover Bank
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 CD Rates
CIT Bank is known for competitive interest rates on savings products. How are their CD rates? Find out the current rates and how they compare.
CIT Bank Savings Builder Review
If you can save just $100 per month, you can earn a high APY with CIT Bank's Savings Builder. Find out if this bank is good for you.
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 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 Bank vs Marcus
• Ally Bank vs Capital One
• Ally Bank vs Wealthfront

Which Do You Think is Best?

You Might Also Like

Best High Yield Savings Accounts
Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.

Best Online Bank
Online banks are convenient, pay higher interest rates, and have less fees. Read on for our list of the best online banks for your money.

How to Choose a Bank
The right bank for you depends on your needs. Do you want easy access, low fees, or good interest rates? Here's how to choose the best bank for you.

Top 5 Best CD Rates
CD accounts are fully secured and risk-free. Plus, they offer higher interest rates than traditional savings accounts. Read on for our list of the best high interest CDs to help you start saving.

Top 10 Best Online Savings Account
The best online savings accounts pay a good interest rate, are fully secured, and allow for flexibility. Find the best high interest savings accounts to consider.

Compare CIT Bank to:

You might also be interested in

Related: Bank

	NBKC Bank Review Tired of losing your hard-earned money to banking fees? Consider nbkc bank. They make it easy to save, spend, and transfer money online with no-fee bank accounts. Learn everything you need to know about nbkc below.

Compare Ally Bank to: