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CIT Bank vs Charles Schwab Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Charles Schwab Bank? 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 Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

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

 CIT Bank
Member FDIC
 Visit SiteLearn More
 

CIT Bank

Charles Schwab Bank

SPECIAL OFFER
CIT Bank Platinum Savings - Learn More

Read CIT Bank Review

SPECIAL OFFER
High Yield Investor Checking – Unlimited ATM Rebates - Learn More

Read Charles Schwab Bank Review

 

Benefits and Features

SavingsPlatinum Savings: 5.00% APY with a balance of $5,000 or more
Savings Connect: 4.65% APY
Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit
0.48% APY
CDTerm CDs up to 3.50% APY. $1,000 minimum opening deposit.Offers brokered CDs from other banks. Minimum deposit of $1,000.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,0000.45% APY, $0.01 account minimum
Money Market
1.55% APY
 
Mobile App
iOS & Android
 
ATMsNo ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account)Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.
Customer ServiceMon - Fri: 9 am - 9 pm ET
Sat: 10 am - 6 pm ET
Sunday: Closed
24/7 Live Customer Service (Telephone and Chat)
Locations
Online Only
345 branches across the country. You may also open an account online.
 

CreditDonkey® Reviews

 CIT Bank
SavingsStarStarStarStarStarStarStarStarStarEmpty Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarHalf Star
Pros & ConsPros:
  • High savings APY
  • No monthly fees
  • Low opening deposits
Cons:
  • No check writing
Pros:
  • No account minimum
  • No service fees
  • Refund all ATM fees
Cons:
  • Only checking or savings
  • Must do banking online
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewPopular brokerage with a free checking account that refunds ATM fees... Read full review
 Visit SiteLearn More

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 05/14/2024.

Charles Schwab Bank: Pricing information from published website as of 05/18/2024.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% 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
CIT Bank
Member FDIC

CIT Bank Savings Connect - 4.65% APY

  • Earn 11x the national average
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
CIT Bank
Member FDIC

CIT Bank No Penalty CD - 3.50% APY

  • 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

Which is Better: CIT Bank or Charles Schwab Bank?

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 Chase.

In short: CIT Bank's savings is outstanding.


Articles on CIT Bank

CIT Bank Money Market Review

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 Platinum Savings vs Savings Connect

CIT Platinum Savings is CIT Bank's newest savings account. It advertises a higher APY. Check out how it works and how it compares to Savings Connect.

CIT Bank Savings Builder vs Savings Connect

CIT Bank has even more ways to save now. Savings Connect and Savings Builder both offer competitive rates. Find out the bank account that is best for you.

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 slight 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.

CIT Bank Savings Builder vs Money Market

CIT Bank offers both money market and savings accounts. But which is better to keep your money safe? Find out how to choose between the two.

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 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 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 Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

Charles Schwab High Yield Savings

Charles Schwab Bank has a savings account with no fees and a free debit card. But how does its APY stack up against other accounts?

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.

Which Do You Think is Best?





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