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Citibank vs CIT Bank

Citibank is a large national bank best for high balance customers. How does it compare to CIT Bank? Read our comparison chart below.

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.

While 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.

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

 CIT Bank
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Citibank

CIT Bank

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Citi Priority Package - $700 Bonus - Learn More

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SPECIAL OFFER
CIT Bank Savings Builder - Up to $300 Bonus - Learn More

Read CIT Bank Review

 

Benefits and Features

Savings0.04% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
CD0.05% - 1.75% 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.Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
Checking eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000
Money MarketA.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.1.85% APY. $100 minimum deposit. No monthly maintenance fee.
Customer Service24/7 Live Customer Service (Telephone)Monday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
ATMs2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs. 
IRA CDCan convert an IRA to a regular CD account. 0.05% - 1.75% 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 MarketCan convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100. 
Locations700 Citibank branches across 13 states (mostly in California and New York)
Online Only
 

CreditDonkey® Reviews

 CIT Bank
Savings
CD
Checking
Customer Service
Mobile App
Money Market
Pros & ConsPros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Pros:
  • High APY
  • No minimum deposit for savings
  • No monthly service fees
Cons:
  • No checking accounts
  • No ATM card
Bottom LineLarge national bank best for high balance customers... Read full reviewSolid online bank with excellent rates and no monthly fees... 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.

    Citibank: Pricing information from published website as of 11/15/2019.

    CIT Bank: Pricing information from published website as of 10/1/2019

    Which is Better: Citibank or CIT Bank?

    Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Citibank or Chase.

    In short: CIT Bank's savings is notable.


    Articles on Citibank


    Articles on CIT Bank

      CIT Bank Review

      Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.

      CIT Bank Login

      Forgot your CIT Bank username? We'll show you how to login your online bank account.

      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 CD Rates

      CIT Bank is known for competitive interest rates on savings products. How are their CD rates? Find out the current rates and how they compare.

      CIT Bank Savings Builder Review

      If you can save just $100 per month, you can earn a high APY with CIT Bank's Savings Builder. Find out if this bank is good for you.

      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.

      CIT Bank Locations

      CIT Bank is an online only bank with no physical branches. Find out how to manage your account, reach customer service, and the bank's current offers.

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