CIT Bank vs Charles Schwab Bank
CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Charles Schwab Bank? 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 Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.
Compare CIT Bank with Charles Schwab Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Learn More | |
CIT Bank | Charles Schwab Bank | |
|---|---|---|
CIT Bank Platinum Savings - | High Yield Investor Checking – Unlimited ATM Rebates - | |
Benefits and Features | ||
| Savings | Platinum Savings: 4.30% 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 | |
| CD | Term CDs up to 3.50% APY. $1,000 minimum opening deposit. | Offers brokered CDs from other banks. Minimum deposit of $1,000. |
| Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | |
| Money Market | ||
| Mobile App | ||
| ATMs | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) | Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide. |
| Customer Service | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed | 24/7 Live Customer Service (Telephone and Chat) |
| Locations | 345 branches across the country. You may also open an account online. | |
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Checking |  | |
| Money Market | | |
| Mobile App | | |
| Customer Service | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with excellent rates and no monthly fees... | Popular brokerage with a free checking account that refunds ATM fees... |
| Visit Site | Learn More | |
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 0217/2025. Charles Schwab Bank: Pricing information from published website as of 02/19/2025. | ||
CIT Bank Platinum Savings - 4.30% APY
- 4.30% 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 |
Which is Better: CIT Bank or Charles Schwab Bank?
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 UFB Direct.
In short: CIT Bank's savings is outstanding.
Articles on CIT Bank
CIT Bank Money Market Review
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 Platinum Savings vs Savings Connect
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 Charles Schwab Bank
Charles Schwab Bank Review
Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.
Charles Schwab High Yield Savings
Charles Schwab Bank has a savings account with no fees and a free debit card. But how does its APY stack up against other accounts?
Charles Schwab Routing Number
You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.
Which Do You Think is Best?
Which Bank Account is Right for You?
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