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CIT Bank vs Regions Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Regions Bank? 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 Regions Bank has 1,500 branches in 15 states in the South and Midwest. Checking and savings accounts require just $50 to open, with relatively lower requirements to waive fees. The unique Now Banking solution offers prepaid Visa, savings, and check cashing services with no account required.

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

 CIT Bank
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CIT Bank

Regions Bank

SPECIAL OFFER
CIT Savings Builder - Earn 1.25% APY - Learn More

Read CIT Bank Review

SPECIAL OFFER
Regions Refer a Business - $150 Visa Reward Card - Learn More

Read Regions Bank Review

 

Benefits and Features

SavingsSavings Builder up to 1.25% APY with $25,000+ balance or $100 monthly deposit.Two types of Savings Account - Regions Savings, and Regions Lifegreen Savings. 0.01% APY. Regions Savings Account - minimum opening deposit $50. $5 monthly maintenance fee, unless you have $300 minimum daily balance. Regions Lifegreen Account - minimum opening deposit $50. Must have Regions Checking Account. No monthly maintenance fee.
CDTerm CDs up to 1.30% APY. $1,000 minimum opening deposit.0.01% - 0.50% APY. Terms ranging from 1 - 72 months. (Promotional rate of 0.50% APY for 7 Months) $500 minimum opening deposit for CDs with terms 90 days or longer. $2,500 minimum opening deposit for CDs with terms 7 - 89 days.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 
Money Market
1.30% APY
Two types of Money Market accounts - Regions Money Market Account and Premium Money Market Account. Regions Money Market: $12 monthly fee. Premium Money Market: $15 monthly fee.
Customer ServiceMonday - Friday: 9:00 am - 9:00 pm (ET)
Saturday: 10:00 am - 6:00 pm (ET)
Sunday: Closed
24/7 Telephone Customer Service
ATMs More than 1900 ATMs in 15 Southern and Midwestern US states.
IRA CD 0.10% - 0.50% APY. (Promotional rate of 0.50% APY for 7 Months) Terms ranging from 6 months - 72 months. $250 minimum opening deposit.
IRA Money Market 0.01% APY. Minimum $50 opening deposit.
Locations
Online Only
More than 1500 branches in 15 Southern and Midwestern US states.
 

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:
  • $50 to open checking account
  • Relationship Rewards program
  • LifeGreen Savings annual bonus
Cons:
  • No free checking option
  • Limited branches
  • Low savings APY
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewSouth and Midwest bank with special reward programs... 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

    Regions Bank: Pricing information from published website as of 05/30/2020 based on 35203 zip code.

    Which is Better: CIT Bank or Regions Bank?

    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 checking, money market, and mobile app are notable. In particular, the money market is outstanding.


    Articles on CIT Bank


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