Rule 424(b)(3)
                                                     Registration Statement
                                                     No. 33-64309

PRICING SUPPLEMENT NO. 27,

Dated  April  29,  1997,  to  
Prospectus,  dated  May 13,  1996  and  
Prospectus Supplement, dated May 15, 1996.

                          THE CIT GROUP HOLDINGS, INC.
                           MEDIUM-TERM FIXED RATE NOTE
                   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:  99.733% or $99,733,000.

Underwriting Discount:  0.162%

Issue Price:  99.895%.

Original Issue Date:  May 2, 1997.

Maturity Date:  May 2, 2000.

Interest Rate Per Annum:  6.700%.

Interest Payment Dates: Each May 2 and November 2, commencing  November 2, 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 Note is 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 Note will be ready for delivery in book-entry form
on or about May 2, 1997.

                                 LEHMAN BROTHERS
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Form:  Global Note.

Specified Currency:  U.S. Dollars.

Trustee, Registrar, Authenticating and Paying Agent:
         Harris Trust & Savings Bank,  under  Indenture  dated as of May 1, 1994
         between   the  Trustee  and  The  CIT  Group   Holdings,   Inc.   ("the
         Corporation").


                                  UNDERWRITING

         Lehman Brothers 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 April 29, 1997 (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., Credit Suisse First Boston Corporation
         (formerly known as 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 Note.

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

         The  Underwriter  has  advised  the  Corporation  that it  proposes  to
         initially  offer the Note to the  public  at the Issue  Price set forth
         above,  and to certain  dealers at such price less a concession  not in
         excess  of  .125%  of  the  principal  amount  of  the  Note,  and  the
         Underwriter  may allow,  and such dealers may reallow,  a concession to
         certain other dealers not in excess of .063% of such principal  amount.
         After the initial public  offering,  the public offering price and such
         concessions  may be changed from time to time. In  connection  with the
         sale of the  Note,  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 Note for whom it may act as agent.  The  Underwriter
         and  any  dealers  that   participate   with  the  Underwriter  in  the
         distribution  of the Note may be  deemed  to be  underwriters,  and any
         discounts or commissions  received by them and any profit on the resale
         of the Note by them  may be  deemed  to be  underwriting  discounts  or
         commissions.
<PAGE>

         The  Note is a new  issue of  securities  with no  established  trading
         market. The Corporation  currently has no intention to list the Note on
         any  securities  exchange.  The  Corporation  has been  advised  by the
         Underwriter  that it  intends  to make a market  in the Note 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 Note.

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