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

PRICING SUPPLEMENT NO. 3,

Dated  August  5,  1997,  to  
Prospectus,  dated  June 6,  1997  and  
Prospectus Supplement, dated June 12, 1997.

                          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. $150,000,000.

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

Underwriting Discount:  0.075%

Issue Price:  100.00%.
Original Issue Date:  August 8, 1997.

Maturity Date:  August 9, 1999.

Interest Rate Per Annum:  6.100%.

InterestPayment  Dates:  Each  February 9 and August 9,  commencing  February 9,
        1998,  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  Underwriters,  as  specified  herein,  subject to
receipt and acceptance by them and subject to their 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 August 8, 1997.

                           MORGAN STANLEY DEAN WITTER
                              CHASE SECURITIES INC.
                          ABN AMRO CHICAGO CORPORATION

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Form:  Global Note.

Specified Currency:  U.S. Dollars.

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


                                  UNDERWRITING

        Morgan Stanley & Co. Incorporated, Chase Securities Inc. and ABN AMRO 
        Securities Inc.( the "Underwriters") are acting as principal in this 
        transaction.

        Subject  to the  terms  and  conditions  set  forth in a Term  Sheet and
        Agreement  dated  August 5, 1997 (the  "Terms  Agreement"),  between the
        Corporation and the  Underwriters,  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  Underwriters,
        and the  Underwriters  have  each  severally  agreed  to  purchase,  the
        principal amount of the Notes set forth opposite its name below:

                                                          Principal Amount of
                                                          ------------------  
               Underwriter                                     the Notes
               -----------                                     ---------
  
        Morgan Stanley & Co. Incorproated                    $100,000,000
        Chase Securities Inc.                                  25,000,000
        ABN AMRO Securities Inc.                               25,000,000
                                                           --------------
                                               Total         $150,000,000
                                                           -------------- 


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

        The  Underwriters  have  advised the  Corporation  that they  propose to
        initially  offer  the Notes to the  public at the Issue  Price set forth
        above,  and to certain  dealers at such price less a  concession  not in
        excess  of  .050%  of  the  principal  amount  of  the  Notes,  and  the
        Underwriters  may allow,  and such dealers may reallow,  a concession to
        certain other dealers not in excess of .025% of such  principal  amount.
        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 Notes, the Underwriters may be deemed to have received  compensation
        from the  Corporation  in the form of  underwriting  discounts,  and the
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        Underwriters  may also receive  commissions  from the  purchasers of the
        Notes for whom it may act as agent.  The  Underwriters  and any  dealers
        that  participate with the Underwriters 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
        Underwriters  that they intend to make a market in the Notes but are 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 Underwriters against certain
        liabilities,  including liabilities under the Securities Act of 1933, as
        amended.