Rule 424(b)(3)
                                    Registration Statement
                                    No. 33-58418

PRICING SUPPLEMENT NO. 16,

Dated November 19, 1996, to
Prospectus, dated May 13, 1996 and
Prospectus Supplement, dated May 15, 1996.

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


(X) Senior Note               ( ) Senior Subordinated Note

Principal Amount:  U.S. $100,000,000.

Proceeds to Corporation:  99.788% or $99,788,000.

Underwriting Discount:  .212%.

Issue Price:  100.0%

Original Issue Date:  November 22, 1996.

Maturity Date:  November 22, 2001.

Interest Rate Per Annum:  6.25%.

Interest  Payment Dates:  Each May 22 and November 22,  commencing May 22, 1997,
provided that if any such day is not a Business Day, the payment will be made on
the next succeeding Business Day as if it were made on the date such payment was
due, and no interest  will accrue on the amount  payable for the period from and
after such Interest Payment Date or the Maturity Date, as the case may be.

      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.

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 November 22, 1996.

                              CHASE SECURITIES INC.

<PAGE>

Form:  Global Note.

Specified Currency:  U.S. Dollars.

Trustee, Registrar, Authenticating and Paying Agent:
      The First  National Bank of Chicago,  under  Indenture  dated as of May 1,
      1994 between the Trustee and the Corporation.

                                  UNDERWRITING

      Chase Securities Inc. ( the "Underwriter") is acting as principal in
      this transaction.

      Subject  to the  terms  and  conditions  set  forth  in a Term  Sheet  and
      Agreement  dated  November 19, 1996 (the "Terms  Agreement"),  between the
      Corporation  and the  Underwriter,  incorporating  the  terms of a Selling
      Agency  Agreement  dated May 15, 1996,  between the Corporation and Lehman
      Brothers,  Lehman  Brothers  Inc., CS First Boston  Corporation,  Goldman,
      Sachs & Co.,  Merrill Lynch & Co., Merrill Lynch,  Pierce,  Fenner & Smith
      Incorporated, Morgan Stanley & Co. Incorporated, Salomon Brothers Inc, and
      UBS Securities LLC, the Corporation has agreed to sell to the Underwriter,
      and  the  Underwriter  has  agreed  to  purchase,  $100,000,000  aggregate
      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

                                      -2-

<PAGE>

      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.

      The Underwriter is a subsidiary of The Chase Manhattan  Corporation and an
      affiliate of CBC Holding (Delaware) Inc., which owns 20% of the issued and
      outstanding   shares  of  common  stock  of  the  Corporation.   See  "The
      Corporation" in the  accompanying  Prospectus.  Peter J. Tobin,  Executive
      Vice  President  and  Chief  Financial  Officer  of  The  Chase  Manhattan
      Corporation,  is a director of the  Corporation.  Pursuant to Rule 2720 of
      the Conduct Rules of the National Association of Securities Dealers,  Inc.
      (the  "NASD"),  the  Underwriter  will  be  deemed  an  affiliate  of  the
      Corporation.  Accordingly,  the  offering  of the  Notes is being  made in
      compliance with Rule 2720, which provides that, among other things, when a
      NASD  member  participates  in  such  an  offering,  it  may  not  execute
      transactions  in any  discretionary  account  without  the prior  specific
      written  approval  of the  customer.  In  addition,  an  affiliate  of the
      Underwriter engages in general financing and banking transactions with the
      Corporation in the ordinary course of business.




                                      -3-