CIT Bank offers accounts for savings and multiple CDs, including a no-penalty CD.

There are no monthly service fees, but both the savings and money market requires a $100 minimum deposit while term CDs require a $1,000 minimum.

Whereas, Regions Bank is located in 15 states in the South and Midwest with 1,500 branches. You can open a checking and savings account with as little as $50, plus they have lower requirements to waive fees.

To add on, the Now Banking solution offers prepaid Visa savings, and check cashing services with no account required.

See our table below for a side-by-side comparison between the two banks.


	CIT Bank	Regions Bank
Locations	Online-only bank	More than 1500 branches in 15 Southern and Midwestern US states. (Locator)
ATMs		More than 4,700 ATMs
Savings	4.5/5	4/5
CD		3.5/5
Checking	4.5/5	3.5/5
Money Market	5/5	3/5
Customer Service	4/5	3.5/5
Mobile App	4.5/5	3/5
Pros	-High yield -No monthly service fees -Low opening deposits	-Virtual Wallet tools -Relatively easy to waive fees -Free student account
Cons	-No physical locations -No check writing	-$50 to open checking account -Relationship Rewards Program -LifeGreen Savings annual bonus
Bottom Line	CIT Bank is a good online bank that offers a good eChecking account and savings options.	Regions Bank offers a variety of deposit products, special reward programs, and more!

Table of Contents

CIT Bank Promotions

CIT Bank Savings BuilderCIT Bank Money MarketCIT Bank CDCIT Bank No-Penalty CD

Learn more about CIT Bank Savings Builder from CIT Bank. Our full list of CIT Bank bonuses here.

Learn more about CIT Bank Money Market from CIT Bank. Our full list of CIT Bank bonuses here.

Learn more about CIT Bank CD from CIT Bank. Our full list of CIT Bank bonuses here.

Learn more about CIT Bank No-Penalty CD from CIT Bank. Our full list of CIT Bank bonuses here.

Compare to Other Banks

CIT Bank:

Regions Bank:

Bottom Line

Which Bank is Better: CIT Bank or Regions Bank?

In summary:

CIT Bank’s money market account is outstanding. They offer high rates without the balance requirements, so this is a good choice if you aren’t able to commit saving a certain amount each month.
Regions Bank’s CDs and savings account are another great way to save, but their rates may not be the best.

For other banking options, see our list of the best bank account bonuses & savings account offers.

More on Regions Bank: