M&T Bank vs CIT Bank
M&T Bank is an upper East Coast bank with free checking option and good promo CD rates. How does it compare to CIT Bank? Read our comparison chart below.
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.
While 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.
Compare M&T Bank with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Learn More | Visit Site | |
M&T Bank | CIT Bank | |
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Referral Program - Up to $500 Bonus - | CIT Bank Platinum Savings - | |
Benefits and Features | ||
Savings | 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 | Platinum 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 |
CD | 3.75% - 4.75% APY. Terms of 6 - 24 months. Minimum opening deposit $1,000. | Term CDs up to 3.50% 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 Market | ||
Mobile App | ||
ATMs | 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. | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) |
Customer Service | Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET). | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed |
Locations | 700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida | |
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Upper East Coast bank with free checking option and good promo CD rates... | Solid online bank with excellent rates and no monthly fees... |
Learn More | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. M&T Bank: Pricing information from published website as of 04/03/2024 based on 14203 zip code CIT Bank: Pricing information and data points from published website as of 04/09/2024. |
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 Savings Connect - 4.65% APY
- Earn 11x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
CIT Bank No Penalty CD - 3.50% APY
- 3.50% APY
- Option to withdraw full balance and interest after 7 days of CD funding date
- $1,000 minimum to open an account
- 11 months
- No monthly maintenance fee
- Member FDIC
Which is Better: M&T Bank or CIT Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing M&T Bank or Chase.
In short: CIT Bank's savings and money market are notable. In particular, the savings is outstanding.