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TD Bank vs CIT Bank

TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to CIT Bank? Read our comparison chart below.

TD Bank has 1,300 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.

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

 TD BankCIT Bank
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TD Bank

CIT Bank

SPECIAL OFFER
TD Beyond Checking - $300 Cash Bonus - Learn More

Read TD Bank Review

SPECIAL OFFER
CIT Bank Money Market Account - 0.60% APY - Learn More

Read CIT Bank Review

 

Benefits and Features

Savings0.05% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.Savings Builder up to 0.55% APY with $25,000+ balance or $100 monthly deposit.
CD0.05% APY (up to 0.20% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).Term CDs up to 0.50% 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 Market0.01% - 0.10% APY (up to 0.15% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old.
0.60% APY
Customer Service24/7 Live Customer Service (Telephone)Monday - Friday: 9:00 am - 9:00 pm (ET)
Saturday: 10:00 am - 6:00 pm (ET)
Sunday: Closed
ATMsApproximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida 
IRA CD0.05% APY (up to 0.20% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). 
Locations1300 locations along the east coast.
Online Only
 

CreditDonkey® Reviews

 TD BankCIT Bank
Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • Extended banking hours
  • Low requirements to waive monthly fees
  • No foreign transaction fees
Cons:
  • No free checking
  • Low APY
  • Only on East Coast
Pros:
  • High yield
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Bottom LineEast Coast bank with relatively low minimum balance requirements... Read full reviewSolid 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.

TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code.

CIT Bank: Pricing information from published website as of 06/03/2020

Which is Better: TD Bank or CIT Bank?

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

In short: TD Bank's customer service is outstanding. CIT Bank's savings and money market are notable. In particular, the money market is outstanding.


Articles on TD Bank


Articles on CIT Bank


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