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CIT Bank vs Synchrony Bank

CIT is a solid online bank with excellent rates and no monthly fees. How does it compare to Synchrony Bank? Read our comparison chart below.

CIT offers savings accounts and multiple CDs, including a no-penalty CD. Savings and Money Market account requires $100 minimum deposit, while term CDs require $1,000 minimum deposit. There are no monthly service fees.

While Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. There is no minimum deposit. Their CDs require a $2,000 minimum deposit to open. There are no service fees for any products.

Compare CIT with Synchrony Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 CIT Bank
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CIT Bank

Synchrony Bank

SPECIAL OFFER
Savings Builder High Yield Savings - 1.80% APY - Learn More

Read CIT Review

SPECIAL OFFER
High Yield Savings - 1.70% APY - Learn More

Read Synchrony Bank Review

 

Benefits and Features

SavingsSavings Builder up to 1.80% APY with $25,000+ balance or $100 monthly deposit.1.70% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit.0.75% to 2.15% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 
Money Market
1.85% APY
1.20% APY. No monthly service fee and no minimum deposit.
Customer ServiceMonday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
Mon-Fri 7am - 12am (ET); Sat-Sun 8am - 5pm (ET)
ATMs Any ATMs with Plus or Accel logos
IRA CD 0.75% to 2.15% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
IRA Money Market 1.20% APY.
Locations
Online Only
Online Only
 

CreditDonkey® Reviews

 CIT Bank
Savings
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • High APY
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Pros:
  • Savings with ATM card
  • High APY
  • All balance tiers receive same rate
Cons:
  • No checking account
  • $2,000 minimum deposit for CDs
  • Limited customer service hours
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewGood online bank offering high interest rates... Read full review
 Visit SiteLearn More
What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    CIT: Pricing information from published website as of 10/1/2019

    Synchrony Bank: Pricing information from published website as of 01/22/2020.

    Which is Better: CIT or Synchrony Bank?

    Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing CIT or Chase.

    In short: CIT's money market is impressive.


    Articles on CIT Bank

      CIT Bank Review

      Want a high interest rate at a good FDIC insured bank? CIT is tempting, but has some downsides. Read this CIT Bank review before you open an account.

      CIT Bank Savings Builder Review

      If you can save just $100 per month, you can earn a high APY with CIT Bank Savings Builder. Find out if this bank is good for you.

      CIT Bank CD Rates

      CIT Bank is known for competitive interest rates on online savings products. How are their CD rates? Check out the current rates and how they compare below.
      CIT Bank

      CIT Bank Promo Code

      View list of latest CIT Bank online promotions. CIT Bank offers high yield online bank accounts with low minimum deposit requirements and minimal fees.

      Who is CIT Bank

      CIT Bank offers accounts with high interest rates and low fees. But just who is CIT Bank? And should you trust them with your money? Read on to learn more.

      CIT Bank Login

      Forgot your CIT Bank username? We'll show you how to login your online bank account.

      CIT Bank Complaints

      CIT Bank offers a high APY. But there are some downsides, too. Read on to learn more about CIT Bank common complaints and possible solutions.

      CIT Bank Routing Number

      Want to transfer money in or out of your CIT Bank account? Read this review to find your ABA routing number.

      CIT Bank Locations

      CIT Bank is an online only bank with no physical branches. Find out how to manage your account, reach customer service, and the bank's current offers.

    Articles on Synchrony Bank

      Synchrony Bank Review

      Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.

    Which Do You Think is Best?

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