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.
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| Synchrony Bank | CIT Bank | |
| Locations | Online based banking | Online-only bank |
| ATMs | Any ATMs with Plus or Accel logos | |
| Savings | 5/5 | 4.5/5 |
| CD | 5/5 | |
| Checking | 4.5/5 | |
| Money Market | N/A | 5/5 |
| Customer Service | 4/5 | 4/5 |
| Mobile App | 4.5/5 | |
| Pros | -Savings with ATM card -High APY -All balance tiers receive same rate |
-High yield -No monthly service fees -Low opening deposits |
| Cons | -No checking account -High APY -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
CIT Money MarketCIT Savings BuilderCIT CDCIT No Penalty CD
 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 |
Learn more about CIT Bank Money Market. Our full list of CIT Bank bonuses here.
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 |
Learn more about CIT Bank Savings Builder. Our full list of CIT Bank bonuses here.
 • Available online nationwide • Earn up to 5.00% 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! |
Learn more about CIT CD account. Our full list of CIT Bank bonuses here.
With the CIT Bank No-Penalty 11-Month CD: • Earn 4.90% 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. |
Learn more about CIT No Penalty CD account. Our full list of CIT Bank bonuses here.
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
Bottom Line
Which Bank is Better: Synchrony Bank or CIT Bank?
In summary:
- 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
