CIT Bank vs Citibank
CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Citibank? 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 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 Bank with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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CIT Bank | Citibank | |
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CIT Bank Money Market Account - 0.45% APY - | Citi Accelerate Savings Account - 0.50% APY - | |
Benefits and Features | ||
Savings | Savings Builder up to 0.40% APY with $25,000+ balance or $100 monthly deposit. | 0.04% - 0.15% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500. |
CD | Term CDs up to 0.50% APY. $1,000 minimum opening deposit. | 0.05% - 0.25% 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. |
Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | |
Money Market | A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100. | |
Customer Service | Monday - Friday: 9:00 am - 9:00 pm (ET) Saturday: 10:00 am - 6:00 pm (ET) Sunday: Closed | 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% - 0.25% 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. | |
IRA Money Market | Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100. | |
Locations | 700 Citibank branches across 13 states (mostly in California and New York) | |
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
CD | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Solid online bank with excellent rates and no monthly fees... | Large national bank best for high balance customers... |
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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 02/16/2021 Citibank: Pricing information from published website as of 2/24/2021. |
Which is Better: CIT Bank or Citibank?
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 and checking are notable.