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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.

 CIT Bank
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CIT Bank

Citibank

SPECIAL OFFER
CIT Savings Builder - Earn 0.95% APY - Learn More

Read CIT Bank Review

SPECIAL OFFER
Citi Accelerate Savings Account - 1.10% APY - Learn More

Read Citibank Review

 

Benefits and Features

SavingsSavings Builder up to 0.95% 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.
CDTerm CDs up to 1.05% APY. $1,000 minimum opening deposit.0.10% - 0.40% 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
1.00% APY
A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Customer ServiceMonday - 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. 0.10% - 0.40% 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 yield
  • 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 Bank: Pricing information from published website as of 06/03/2020

    Citibank: Pricing information from published website as of 07/29/2020.

    Which is Better: CIT Bank or Citibank?

    Still need help deciding which bank 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.


    Articles on CIT Bank


    Articles on Citibank


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