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CIT Bank vs TCF Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to TCF 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 TCF Bank has 320 branches mostly in the Midwest. Offers several checking options, including a no-fee checking and specialty accounts for teens, students, and seniors. Savings account fees can be waived with relatively low balance requirements. CDs require $500 to open.

Compare CIT Bank with TCF Bank, side-by-side.

 CIT Bank
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CIT Bank

TCF Bank

SPECIAL OFFER
CIT Bank Money Market Account - 0.50% APY - Learn More

Read CIT Bank Review

 

Benefits and Features

SavingsSavings Builder up to 0.45% APY with $25,000+ balance or $100 monthly deposit.0.01% APY. Minimum deposit of $25 - $50, depending on account. May have monthly maintenance fee of $0 - $10, depending on account. Can be waived with minimum balance of $100 or $1000, depending on account.
CDTerm CDs up to 0.50% APY. $1,000 minimum opening deposit.0.05% - 0.25% APY. Slightly higher APY rates with a TCF Checking Account. Terms ranging from 3 months - 120 months. $500 minimum opening deposit.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 
Money Market
0.50% APY
0.01% APY. $50 minimum opening deposit. $10 monthly maintenance fee, unless you have $1500 minimum balance.
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 836 ATMs across Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, and South Dakota.
IRA CD 0.05% - 0.25% APY. Slightly higher APY rates with a TCF Checking Account. Terms ranging from 3 months - 120 months. $500 minimum opening deposit.
Locations
Online Only
320 branches across Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, and South Dakota.
 

CreditDonkey® Reviews

 CIT Bank
Savings
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • High yield
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full review
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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 from published website as of 06/03/2020

TCF Bank: Pricing information from published website as of 11/27/2020 based on 55441 zip code.

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.


Articles on CIT Bank


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