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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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CIT Bank Bonus Offer: $300 for New and Existing Customers - Learn More

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Benefits and Features

Savings0.04% - 0.06% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.Savings Builder up to 1.75% APY with $25,000+ balance or $100 monthly deposit.
CD0.05% - 1.70% 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.
Checking eChecking: 0.25% APY with $25,000+ 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.
1.80% APY
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% - 1.70% 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 yield
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
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

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    Citibank: Pricing information from published website as of 02/26/2020.

    CIT Bank: Pricing information from published website as of 02/20/2020

    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 and checking are notable.


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    CIT Bank Promo Code

    Get $150 cash bonus with $25k deposit or $300 cash bonus with $50k deposit. You must use the promo code to get this deal. CIT Bank promotion is open to new AND existing customers. Limited time offer expires 5/30/2020.

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