Rule 424(b)(3)
                                       Registration Statement Nos. 333-84859 and
                                         333-56172
                                       CUSIP # 12560PBZ3

PRICING SUPPLEMENT NO. 1
Dated April 3, 2001 to
Prospectus, dated March 12, 2001 and
Prospectus Supplement, dated April 3, 2001.

                               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. $1,000,000,000.

Proceeds to Corporation:  99.94279% or $999,427,900.00

Agent Commission:  0.05721% or $572,100.00

Issue Price:  $1,000,000,000.

Original Issue Date:  April 6, 2001.

Maturity Date: April 7, 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:   Three months.

Spread:  +45 basis points ( 0.45%).

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

It is expected that the Notes will be ready for delivery in book-entry form on
or about April 6, 2001.

LEHMAN BROTHERS                                   BANC OF AMERICA SECURITIES LLC
SALOMON SMITH BARNEY                              CREDIT SUISSE FIRST BOSTON
JPMORGAN                                          FIRST UNION SECURITIES, INC.
UBS WARBURG LLC                                   DRESDNER KLEINWORT WASSERSTEIN



Form:  Global Note.

Interest Reset Dates: July 7, 2001, October 7, 2001, January 7, 2002, April 7,
      2002, July 7, 2002, October 7, 2002 and January 7, 2003, commencing July
      7, 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: July 7, 2001, October 7, 2001, January 7, 2002, April 7,
      2002, July 7, 2002, October 7, 2002, January 7, 2003 and on April 7, 2003,
      commencing July 7, 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. (successor in interest to The First National
      Bank of Chicago), under Indenture dated as of September 24, 1998 between
      the Trustee and the Corporation.

Agents:

          Agent                                                 Principal Amount
          Lehman Brothers Inc.                                    $  775,000,000
          Banc of America Securities LLC                              75,000,000
          Salomon Smith Barney Inc.                                   50,000,000
          Credit Suisse First Boston Corporation                      40,000,000
          Chase Securities Inc.                                       25,000,000
          First Union Securities Inc.                                 20,000,000
          UBS Warburg LLC                                             10,000,000
          Dresdner Kleinwort Wasserstein                               5,000,000

           Total                                                  $1,000,000,000