Synchrony Bank vs CIT Bank
Synchrony Bank is a good online bank offering high interest rates. How does it compare to CIT Bank? Read our comparison chart below.
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.
While CIT Bank is an online division of First Citizens Bank. It's known for high interest rates on its savings accounts and CDs. In addition, it offers an eChecking account. All accounts have no monthly service fees.
Compare Synchrony Bank with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Learn More | Visit Site | |
Synchrony Bank | CIT Bank | |
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High Yield Savings - 4.75% APY - | CIT Bank Platinum Savings - | |
Benefits and Features | ||
Savings | 4.75% 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 | Platinum Savings: 5.05% APY with a balance of $5,000 or more Savings Connect: 4.65% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit |
CD | 0.25% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open. | Term CDs up to 3.50% APY. $1,000 minimum opening deposit. |
Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | |
Money Market | 2.25% APY. No monthly service fee and no minimum deposit. | |
Mobile App | ||
ATMs | Any ATMs with Plus or Accel logos | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) |
Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed |
IRA CD | 0.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open. | |
IRA Money Market | 2.25% APY. | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
Money Market | ||
Customer Service | ||
Checking | ||
Mobile App | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Good online bank offering high interest rates... | Solid online bank with excellent rates and no monthly fees... |
Learn More | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Synchrony Bank: Pricing information from published website as of 04/11/2024. CIT Bank: Pricing information and data points from published website as of 04/09/2024. |
CIT Bank Platinum Savings - 5.05% APY
- 5.05% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
CIT Bank Savings Connect - 4.65% APY
- Earn 11x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
CIT Bank No Penalty CD - 3.50% APY
- 3.50% APY
- Option to withdraw full balance and interest after 7 days of CD funding date
- $1,000 minimum to open an account
- 11 months
- No monthly maintenance fee
- Member FDIC
Which is Better: Synchrony Bank or CIT Bank?
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