CIT Bank vs BMO
CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to BMO? Read our comparison chart below.
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.
While BMO has over 900 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.
Compare CIT Bank with BMO, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Visit Site | Visit Site | |
CIT Bank | BMO | |
|---|---|---|
CIT Bank Platinum Savings - | BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus* - | |
Benefits and Features | ||
| Savings | Platinum Savings: 4.35% APY with a balance of $5,000 or more Savings Connect: 4.00% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit | 0.01% APY. $5 reward every month you save $200 or more, for the first year. |
| CD | Term CDs up to 3.50% APY. $1,000 minimum opening deposit. | 0.05% - 3.50% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. |
| Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | Smart Advantage, Smart Money, Relationship |
| Money Market | 0.80% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
| Mobile App | ||
| ATMs | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) | |
| Customer Service | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm |
| IRA CD | 0.05% - 1.50% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | |
| IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Checking |  | |
| Money Market | | |
| Mobile App | | |
| Customer Service | | |
| CD | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with excellent rates and no monthly fees... | Midwest bank with options for low and high-balance customers... |
| Visit Site | 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. CIT Bank: Pricing information and data points from published website as of 12/04/2024. BMO: Pricing information from published website as of 12/20/2024 based on 60603 zip code. | ||
CIT Bank Platinum Savings - 4.35% APY
- 4.35% 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 - 4.00% APY
- Earn 9x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
CIT Bank Term CDs - Up to 3.50% APY
- Up to 3.50% APY
- $1,000 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
| Term | CD Rates |
|---|---|
| 6 Month | 3.00% APY |
| 1 Year | 0.30% APY |
| 13 Month | 3.50% APY |
| 18 Month | 3.00% APY |
| 2 Year | 0.40% APY |
| 3 Year | 0.40% APY |
| 4 Year | 0.50% APY |
| 5 Year | 0.50% APY |
BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus*
$300 Cash Bonus* when you have $4,000 in direct deposits within 90 days of opening between 11/1/24 – 2/3/25. *Conditions Apply. Available in the U.S. BMO Bank N.A. Member FDIC
Which is Better: CIT Bank or BMO?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing CIT Bank or Discover Bank.
In short: CIT Bank's savings and money market are notable. In particular, the savings is outstanding.
Articles on CIT Bank
CIT Bank
CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.
CIT Bank CD Rates
CIT Bank is a well-known online bank with high savings interest rates. Find out how CIT Bank's CD rates compares to other trustworthy banks.
Who is CIT Bank
CIT Bank offers accounts with high interest rates and low fees. But just who is CIT Bank? And should you trust them with your money?
CIT Bank Savings Connect vs Platinum Savings
CIT Platinum Savings is CIT Bank's newest savings account. It advertises a higher APY. Check out how it compares to Savings Connect. Get a higher rate now.
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 Locations
CIT Bank is an online bank that offers a variety of savings products. Find out how to manage your account, reach customer service, and the bank's current offers.
CIT Platinum Savings
CIT Platinum Savings Account boasts a higher APY than its other savings accounts. But there's a catch. Read on to learn how to get the highest APY.
CIT Bank No Penalty CD Review
CIT Bank offers a CD account that has no penalty for early withdrawal. Read on to learn about the APY and any requirements or fees that come with it.
CIT Bank High Yield Savings Review
CIT Bank savings accounts offer some of the highest APYs with minimal requirements. Read on to learn how CIT can help you grow your money.
What is CIT Bank
In the modern world, there are some things you just don't have to do anymore. Like drawing water from a well. Or paying fees just to keep your bank account open.
CIT Bank Login
Forgot your CIT Bank username? We'll show you how to login your online bank account.
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.
Articles on BMO
BMO Review
BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.
BMO Routing Number
If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.
Who Owns BMO
BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.
Is BMO an Ethical Bank
BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.
BMO Relationship Minimum Balance
Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.
Is BMO a Good Bank
Is BMO a good choice for your banking needs? Find out here.
Is BMO a Safe Bank
Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.
What is BMO
BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.
BMO Smart Money vs Smart Advantage
BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.
Is BMO a Real Bank
BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.
Which Do You Think is Best?
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