Synchrony Bank vs CIT Bank: Which Is Better? Archives

Synchrony Bank vs CIT Bank

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
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 Money MarketCIT Savings BuilderCIT CDCIT No Penalty CD

Learn more about CIT CD account. Our full list of CIT Bank bonuses here.

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.

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