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Synchrony Bank vs CIT Bank: Which Is Better?

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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.
HSBC Bank vs Synchrony Bank CIT Bank
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
Learn more about CIT Bank Money Market. Our full list of CIT Bank bonuses here.
Learn more about CIT Bank Savings Builder. Our full list of CIT Bank bonuses here.
Learn more about CIT CD account. Our full list of CIT Bank bonuses here.
Learn more about CIT No Penalty CD account. Our full list of CIT Bank bonuses here.

Compare to Other Banks

Synchrony Bank:

CIT Bank:
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Chase Business Checking Bonus Banner Ad

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:

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Filed under: Bank Guides

Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

About Anthony Nguyen

Anthony Nguyen, founder of HustlerMoneyBlog.com, has a passion for finding the best deals, bank promotions, credit card offers, cash back, points & miles, and everything in between. Contact Anthony for media/advertising.

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Advertiser Disclosure: Many of the credit card, cd, savings, checking offers that appear on this site are from credit card companies and other financial institutions from which HustlerMoneyBlog.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). We do not feature all available credit card, cd, savings, checking offers or all financial institutions.
Editorial Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.