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. In addition, it offers an eChecking account. All accounts have no monthly service fees.

While 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.

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

	CIT Bank	BMO
	Member FDIC	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER CIT Bank Platinum Savings - Learn More Read CIT Bank Review	SPECIAL OFFER BMO Smart Advantage Checking account - Earn $400 Cash Bonus* - Learn More Read BMO Review
	Benefits and Features
Savings	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	0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD	Term CDs up to 3.50% APY. $1,000 minimum opening deposit.	0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.
Checking	eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000	Smart Advantage, Smart Money, Relationship
Money Market	1.55% APY	Up to 2.68% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
Mobile App	iOS & Android
ATMs	No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account)	40,000+ BMO and Allpoint ATMs
Customer Service	Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed	Mon-Fri: 7am - 11pm (CT); Sat-Sun 8am - 10pm
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	Online Only	981 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	Visit Site
	CIT Bank Platinum Savings CIT Bank Savings Connect CIT Bank Term CDs - Up to 3.50% APY	BMO Smart Advantage Checking account - Earn $400 Cash Bonus* BMO Smart Money Checking account - Earn $400 Cash Bonus* Savings Account - Up to $60 Bonus
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 and data points from published website as of 06/25/2025. BMO: Pricing information from published website as of 07/11/2025 based on 60603 zip code.

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

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

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.

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.

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.