CIT Bank vs BMO

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

CIT Bank is an online division of First Citizens Bank. It's known for high interest rates on its savings accounts and CDs. All accounts have no monthly service fees.

While BMO has over 900 branches and is the 7th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings Builder needs just $25 to open and has $0 monthly fee. Standard and Special CDs require a minimum opening deposit of $1,000.

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

	Member FDIC	BMOLive Oak BankUFB DirectBank of AmericaU.S. BankWells Fargo Member FDIC
	Visit Site	Learn More
	CIT Bank	BMO
	SPECIAL OFFER CIT Bank Platinum Savings - Learn More Read CIT Bank Review	SPECIAL OFFER Savings Account - Up to $60 Bonus - Learn More Read BMO Review
	Benefits and Features
Savings	Platinum Savings: 3.75% APY with a balance of $5,000 or more Savings Connect: 3.65% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit	0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD	Term CDs up to 3.75% APY. $1,000 minimum opening deposit.	0.05% - 2.60% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.
Checking		Smart Advantage, Smart Money, Relationship
Money Market	1.55% APY	Up to 2.30% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
Mobile App	iOS & Android
ATMs		40,000+ BMO and Allpoint ATMs
Customer Service	Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed	Monday–Friday, 7 a.m.–11 p.m. (CT), and Saturday–Sunday, 8 a.m.–10 p.m. (CT)
IRA CD		0.05% - 1.00% 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	Online Only	900+ branches
	CreditDonkey® Reviews
Savings
Checking
Money Market
Mobile App
Customer Service
CD
Pros & Cons	Pros: High savings APY No monthly fees Low opening deposits Cons: No check writing	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY
Bottom Line	Solid online bank with excellent rates and no monthly fees... Read full review	Midwest bank with options for low and high-balance customers... Read full review
	Visit Site	Learn More
	CIT Bank Platinum Savings CIT Bank Savings Connect CIT Bank No Penalty CD - 3.75% APY	Savings Account - Up to $60 Bonus BMO Alto Online Savings Account - 3.25% APY Business Platinum Money Market - Up to 2.30% APY
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: For complete list of account details and fees, see our Personal Account disclosures. BMO: Pricing information from published website as of 01/03/2026 based on 60603 zip code.

Member FDIC

CIT Bank Platinum Savings - 3.75% APY

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• 3.75% 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

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

Member FDIC

CIT Bank Savings Connect - 3.65% APY

Learn More

• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Disclosures

APY — Annual Percentage Yield is accurate as of January 9, 2026. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

For complete list of account details and fees, see our Personal Account disclosures.

Member FDIC

CIT Bank No Penalty CD - 3.75% APY

Get Deal

• 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

Disclosures

APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum to open the account.

With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.

For complete list of account details and fees, see our Personal Account disclosures.

Which is Better: CIT Bank or BMO?

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

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

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.

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CIT Bank CD Rates

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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.

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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 Locations

CIT Bank is an online bank that offers a variety of savings products. Find out how to manage your account, reach customer service, and the bank's current offers.

CIT Platinum Savings

CIT Platinum Savings Account boasts a higher APY than its other savings accounts. But there's a catch. Read on to learn how to get the highest APY.

CIT Bank No Penalty CD Review

CIT Bank offers a CD account that has no penalty for early withdrawal. Read on to learn about the APY and any requirements or fees that come with it.

CIT Bank High Yield Savings Review

CIT Bank savings accounts offer some of the highest APYs with minimal requirements. Read on to learn how CIT can help you grow your money.

What is CIT Bank

In the modern world, there are some things you just don't have to do anymore. Like drawing water from a well. Or paying fees just to keep your bank account open.

CIT Bank Login

Forgot your CIT Bank username? We'll show you how to login your online bank account.

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.

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.

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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 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.

Which Do You Think is Best?