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

PRICING SUPPLEMENT NO. 29,

Dated May 28, 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. $150,000,000.

Proceeds to Corporation:  99.925% or $149,887,500.

Underwriting Discount:  0.00%

Issue Price:  99.925%.

Original Issue Date:  June 2, 1997.

Maturity Date:  June 2, 2000.

Interest Rate Per Annum:  6.700%.

Interest Payment Dates: Each June 2 and December 2, commencing December 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 June 2, 1997.

                        MORGAN STANLEY & CO. INCORPORATED
<PAGE>



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

      Morgan Stanley & Co. 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  May  28,  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,  $150,000,000  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.

      After the initial  public  offering,  the public  offering price and other
      terms 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.

      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.