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CIT Bank vs M&T Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to M&T 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 M&T Bank has 690 branches serving the Upper East Coast and Florida. Offers a no-fee checking, as well as interest checking but with heavier requirements to waive service fees. Select Promo CD offers high rates for terms up to 36 months with a $1,000 minimum opening deposit.

Compare CIT Bank with M&T 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

M&T Bank

SPECIAL OFFER
CIT Bank Platinum Savings - Learn More

Read CIT Bank Review

SPECIAL OFFER
Referral Program - Up to $500 Bonus - Learn More

Read M&T Bank Review

 

Benefits and Features

SavingsPlatinum Savings: 5.05% 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
0.01% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or more or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account
CDTerm CDs up to 5.00% APY. $1,000 minimum opening deposit.3.75% - 4.75% APY. Terms of 8 - 24 months. Minimum opening deposit $1,000.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 
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)More than 1,800 M&T Bank ATMs in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia.
Customer ServiceMon - Fri: 9 am - 9 pm ET
Sat: 10 am - 6 pm ET
Sunday: Closed
Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET).
Locations
Online Only
700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida
 

CreditDonkey® Reviews

 CIT Bank
SavingsStarStarStarStarStarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarEmpty StarEmpty Star
Pros & ConsPros:
  • High savings APY
  • No monthly fees
  • Low opening deposits
Cons:
  • No check writing
Pros:
  • Free checking option
  • High APY for Promo CD
  • Free savings with checking
Cons:
  • Fee heavy
  • Subpar savings APY
  • Limited branches
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewUpper East Coast bank with free checking option and good promo CD rates... 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 03/01/2024.

M&T Bank: Pricing information from published website as of 03/01/2024 based on 14203 zip code

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.05% APY

  • 5.05% 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 Term CDs - Up to 5.00% APY

  • Up to 5.00% APY
  • $1,000 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

TermCD Rates
6 Month5.00% APY
1 Year0.30% APY
13 Month4.65% APY
18 Month4.60% APY
2 Year0.40% APY
3 Year0.40% APY
4 Year0.50% APY
5 Year0.50% APY

Which is Better: CIT Bank or M&T 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 and money market are notable. In particular, the savings is outstanding.


Articles on CIT Bank

CIT Bank 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 Savings Connect vs Platinum Savings

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

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 M&T Bank

M&T Bank Review

If you are on the upper East Coast, you probably see M&T Bank frequently. With a free checking option and a range of deposit accounts, does it meet your needs?

Which Do You Think is Best?





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