Synchrony Bank offers one of the highest interest savings including an ATM card for withdrawals.
There are no services fees as well is a minimum deposit.
However, their CDs requires a $2,000 minimum deposit to open.
While CIT Bank offers accounts for savings and multiple CDs, including a no-penalty CD.
There are no monthly service fees, but both the savings and money market requires a $100 minimum deposit while term CDs require a $1,000 minimum.
Continue reading below for a more in-depth look for both Synchrony Bank and CIT Bank. You can choose to see which one you’re looking for the most.
|Synchrony Bank||CIT Bank|
|Locations||Online based banking||Online-only bank|
|ATMs||Any ATMs with Plus or Accel logos|
|Pros||-Savings with ATM card
-All balance tiers receive same rate
-No monthly service fees
-Low opening deposits
|Cons||-No checking account
-All balance tiers receive same rate
|-No physical locations
-No check writing
|Bottom Line||Synchrony Bank offers competitive rates for their savings and CDs accounts.||CIT Bank is a good online bank that offers a good eChecking account and savings options.|
CIT Bank Promotions
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
• Available online nationwide
• Earn up to 4.65% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 4.15% APY on your funds with just a $1,000 minimum deposit.
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Compare to Other Banks
- CIT Bank vs US Bank
- CIT Bank vs Ally Bank
- CIT Bank vs Wells Fargo
- CIT Bank vs KeyBank
- CIT Bank vs Regions Bank
- Ally Bank vs CIT Bank
- Chase vs CIT Bank
Which Bank is Better: Synchrony Bank or CIT Bank?
- Synchrony Bank offers several banking options not only that their APYs is considered one of the higher rates in the industry. However, they fall back on limited customer service.
- CIT Bank’s money market account is outstanding. They offer high rates without the balance requirements, so this is a good choice if you aren’t able to commit saving a certain amount each month.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
More on Synchrony:
More on CIT:
- What Are CIT Bank’s Hours?
- CIT Bank Routing Number
- How to Open CIT Bank Account
- Why CIT Bank is Trustworthy
- How To Use and Find Your CIT Bank Login
- CIT Bank Review
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