Rule 424(b)(3)
                                            Registration Statement No. 333-84859
                                            CUSIP # 12560PBW0

PRICING SUPPLEMENT NO. 27
Dated February 23, 2001 to
Prospectus, dated September 23, 1999 and
Prospectus Supplement, dated November 2, 1999.

                               THE CIT GROUP, INC.
                         MEDIUM-TERM FLOATING RATE NOTES
                   DUE NINE MONTHS OR MORE FROM DATE OF ISSUE

|X| Senior Note            |_| Senior Subordinated Note

Principal Amount: U.S. $50,000,000.

Proceeds to Corporation: 99.94295% or $49,971,475.00

Underwriting Discount: 0.06% or $28,525.00

Issue Price: $50,000,000.

Original Issue Date: February 28, 2001.

Maturity Date: February 28, 2003, provided that if such day is not a Business
     Day,  the  payment  of  principal  and  interest  may be made  on the  next
     succeeding  Business  Day,  and no interest on such payment will accrue for
     the period from and after the Maturity Date.

Interest Rate Basis: LIBOR.

Index Maturity: One month.

Spread: +37 basis points (0.37%).

Interest Rate Calculation:  LIBOR determined on the Interest  Determination Date
     plus the Spread.

Initial Interest Rate:  LIBOR  determined two London  Business Days prior to the
     Original Issue Date plus the Spread.

Specified Currency:  U.S. Dollars

The Notes are  offered  by the  Underwriter,  as  specified  herein,  subject to
receipt  and  acceptance  by it and  subject to its right to reject any order in
whole or in part.  It is expected  that the Notes will be ready for  delivery in
book-entry form on or about February 28, 2001.

                               MERRILL LYNCH & CO.



Form: Global Note.

Interest  Reset  Dates:  Monthly  on the  28th day of each  month of each  year,
     commencing  March 28, 2001,  provided that if any Interest Reset Date would
     otherwise fall on a day that is not a Business Day (as defined below), then
     the Interest Reset Date will be the first  following day that is a Business
     Day,  except that if such Business Day is in the next  succeeding  calendar
     month, such Interest Reset Date will be the immediately  preceding Business
     Day.

Interest  Payment  Dates:  Monthly  on the 28th day of each  month of each year,
     commencing March 28, 2001,  provided that if any such day is not a Business
     Day, the Interest  Payment Date will be the next  succeeding  Business Day,
     except that if such Business Day is in the next succeeding  calendar month,
     such Interest Payment Date will be the immediately  preceding Business Day,
     and no interest on such  payment  will accrue for the period from and after
     the Maturity Date.

Accrual of Interest:  Accrued  interest  will be computed by adding the Interest
     Factors  calculated  for each day from the Original  Issue Date or from the
     last date to which  interest  has been paid or duly  provided for up to but
     not including the day for which accrued interest is being  calculated.  The
     "Interest  Factor"  for any  Note for each  such  day will be  computed  by
     multiplying  the face amount of the Note by the interest rate applicable to
     such day and dividing the product thereof by 360.

     Interest  payments  will  include the amount of interest  accrued  from and
     including the most recent Interest  Payment Date to which interest has been
     paid (or from and including  the Original  Issue Date) to but excluding the
     applicable Interest Payment Date.

Interest  Determination  Date:  Two London  Business Days prior to each Interest
     Reset Date.

Calculation Date:  The earlier of (i) the fifth Business Day after each Interest
     Determination  Date,  or (ii) the Business Day  immediately  preceding  the
     applicable Interest Payment Date.

Maximum Interest Rate: Maximum rate permitted by New York law.

Minimum Interest Rate:  0.0%.

Other Provisions:

     "LIBOR"  means  the rate for  deposits  in U.S.  dollars  having  the Index
     Maturity  specified  above which appears on the Telerate Page 3750 (defined
     below)  as  of  11:00  a.m.,  London  time,  on  the  applicable   Interest
     Determination Date.

     "Telerate Page 3750" means the display page  designated as page 3750 on the
     Bridge Telerate,  Inc. service (or such other page as may replace page 3750
     on that  service for the purpose of  displaying  London  interbank  offered
     rates).



     "Business  Day" means any day,  other than a  Saturday  or Sunday,  that is
     neither  a  legal  holiday  nor a day on  which  banking  institutions  are
     generally  authorized or required by law or regulation to close in The City
     of New York.

     "London  Business Day" means any day on which deposits in U.S.  dollars are
     transacted in the London interbank market.

     Trustee, Registrar, Authenticating and Paying Agent:

     Bank One  Trust  Company,  N.A.  (as  successor  in  interest  to The First
     National Bank of Chicago),  under  Indenture dated as of September 24, 1998
     between the Trustee and the Corporation.

                                  UNDERWRITING

Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Underwriter") is acting
as principal in this transaction.

Subject  to the terms and  conditions  set forth in a Term  Sheet and  Agreement
dated as of February 23, 2001 (the "Terms  Agreement"),  between the Corporation
and the Underwriter, incorporating the terms of a Selling Agency Agreement dated
November  2,  1999,  among the  Corporation  and  Lehman  Brothers  Inc.,  Chase
Securities Inc., Credit Suisse First Boston Corporation,  J.P. Morgan Securities
Inc., Merrill Lynch, Pierce,  Fenner & Smith Incorporated,  Salomon Smith Barney
Inc.,  and UBS  Warburg LLC  (formerly  known as Warburg  Dillon Read LLC),  the
Corporation  has  agreed to sell to the  Underwriter,  and the  Underwriter  has
agreed to purchase the principal amount of the Notes.

Under the terms  and  conditions  of the Terms  Agreement,  the  Underwriter  is
committed to take and pay for all of the Notes, if any are taken.

The Underwriter has advised the Corporation  that it proposes to offer the Notes
for sale from time to time in one or more transactions  (which may include block
transactions), in negotiated transactions or otherwise, or a combination of such
methods of sale,  at market  prices  prevailing  at the time of sale,  at prices
related  to  such  prevailing  market  prices  or  at  negotiated   prices.  The
Underwriter  may effect  such  transactions  by selling  the Notes to or through
dealers,  and such dealers may receive  compensation in the form of underwriting
discounts, concessions or commissions from the Underwriter and/or the purchasers
of the Notes for whom it may act as agent.  In  connection  with the sale of the
Notes,  the  Underwriter  may be deemed to have received  compensation  from the
Corporation in the form of underwriting discounts,  and the Underwriter may also
receive  commissions  from the  purchasers  of the  Notes for whom it may act as
agent.  The Underwriter and any dealers that participate with the Underwriter in
the  distribution  of the  Notes  may be  deemed  to be  underwriters,  and  any
discounts  or  commissions  received by them and any profit on the resale of the
Notes by them may be deemed to be underwriting discounts or commissions.

The Notes are a new issue of securities with no established  trading market. The
Corporation  currently  has no  intention  to list the  Notes on any  securities
exchange. The Corporation has been



advised by the Underwriter  that it intends to make a market in the Notes but is
not obligated to do so and may discontinue any market making at any time without
notice.  No assurance can be given as to the liquidity of the trading market for
the Notes.

The  Corporation  has  agreed  to  indemnify  the  Underwriter  against  certain
liabilities, including liabilities under the Securities Act of 1933, as amended.