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CIT Bank vs Citibank

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

CIT 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 Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

 CIT Bank
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CIT Bank

Citibank

SPECIAL OFFER
Savings Builder High Yield Savings - 1.80% APY - Learn More

Read CIT Review

SPECIAL OFFER
Citigold Package - $1,500 Bonus - Learn More

Read Citibank Review

 

Benefits and Features

SavingsSavings Builder up to 1.80% APY with $25,000+ balance or $100 monthly deposit.0.04% - 0.06% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit.0.05% - 1.25% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 
Money Market
1.85% APY
A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Customer ServiceMonday - 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 Live Customer Service (Telephone)
ATMs 2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.
IRA CD Can convert an IRA to a regular CD account. 0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
IRA Money Market Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Locations
Online Only
700 Citibank branches across 13 states (mostly in California and New York)
 

CreditDonkey® Reviews

 CIT Bank
Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & ConsPros:
  • High APY
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewLarge national bank best for high balance customers... 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: Pricing information from published website as of 10/1/2019

    Citibank: Pricing information from published website as of 01/22/2020.

    Which is Better: CIT or Citibank?

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

    In short: CIT's savings and checking are noteworthy.


    Articles on CIT Bank

      CIT Bank Review

      Want a high interest rate at a good FDIC insured bank? CIT is tempting, but has some downsides. Read this CIT Bank review before you open an account.

      CIT Bank Savings Builder Review

      If you can save just $100 per month, you can earn a high APY with CIT Bank Savings Builder. Find out if this bank is good for you.

      CIT Bank CD Rates

      CIT Bank is known for competitive interest rates on online savings products. How are their CD rates? Check out the current rates and how they compare below.
      CIT Bank

      CIT Bank Promo Code

      View list of latest CIT Bank online promotions. CIT Bank offers high yield online bank accounts with low minimum deposit requirements and minimal fees.

      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? Read on to learn more.

      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 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 Citibank


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