Cit Bank vs. Synchrony Bank
High-Yield Savings Account Comparison
Last Updated: October 14, 2025
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Summary of CIT Bank vs. Synchrony Bank
Key Metrics at a Glance
| Feature | CIT Bank | Synchrony Bank |
|---|---|---|
| Top Savings APY | 3.85% Platinum Savings | 3.80% High Yield Savings |
| Minimum to Open | $100 | $0 |
| Minimum Balance for APY | $5,000 | $0 |
CIT Bank
Strengths
- CIT Bank's Platinum Savings offers a higher APY of 3.85% compared to Synchrony Bank's 3.80%.
- CIT Bank has an App Store rating of 4.8, equal to Synchrony Bank's rating.
- CIT Bank's Platinum Savings account has a $0 maintenance fee.
Potential Drawbacks
- CIT Bank's current APY decreased from 4.00% to 3.85% in the last 30 days.
- CIT Bank requires a minimum balance of $5,000 for its highest APY account.
Synchrony Bank
Strengths
- Synchrony Bank's High Yield Savings has no minimum deposit or balance requirements.
- Synchrony Bank has a Google Play rating of 4.5, higher than CIT Bank's 4.3.
Potential Drawbacks
- Synchrony Bank's APY remains unchanged at 3.80% over the last 30 days.
- Synchrony Bank is not rated by the BBB.
→ As of October 14, 2025 CIT Bank offers an APY of 3.85% for its Platinum Savings account, with a minimum balance of $5,000, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account, with a minimum balance of $0.
→ CIT Bank yields $5 more than Synchrony Bank on a $10,000 balance after one year. CIT Bank pays $385, while Synchrony Bank pays $380 - an APY advantage for CIT Bank.
→ In addition, CIT Bank also offers 3.75% APY for the Savings Connect account.
Calculate Savings Growth for CIT Bank vs Synchrony Bank
CIT Bank
Total savings breakdown:
- Interest earned: $2,338 (11.50%)
- Total contributions: $13,000 (63.92%)
- Initial deposit: $5,000 (24.58%)
Your total balance
$20,338.00
Total balance: $20,338
Earnings: $2,338
Bank OverviewSynchrony Bank
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, CIT Bank's total earnings would be $32.1 higher than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare CIT Bank's vs Synchrony Bank's Savings Accounts
| CIT Bank | Synchrony Bank | |||
|---|---|---|---|---|
| Product | Platinum Savings | Savings Connect | vs | High Yield Savings |
| APY | 0.25% - 3.85% (as of 10/14/2025) | 3.75% (as of 10/14/2025) | 3.80% (as of 10/14/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $0 | |
| Minimum Balance for APY | $5,000 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.3/5 | 4.5/5 | ||
| BBB Rating | A- | Not Rated | ||
Comparative Historical APY Insights (Last 9 Months)
| CIT Bank | Synchrony Bank | |||
|---|---|---|---|---|
| Product | Savings Connect | Platinum Savings | vs | High Yield Savings |
| Latest APY | 3.75 % | 3.85 % | 3.80 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -2.4 | -4.9 | -3.7 | |
| Rate Changes / Mo | 0.23 | 0.45 | 0.23 | |
| Days Since Last Change | 22 | 22 | 134 | |
| High (-9 m) | 4.00 % | 4.35 % | 4.10 % | |
| Low (-9 m) | 3.75 % | 3.85 % | 3.80 % | |
| Draw-down from High | -6.3 % | -11.5 % | -7.3 % | |
| Volatility (CV) | 0.019 | 0.034 | 0.027 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-9 m)
- Highest APY in the last 266 days.
- Low (-9 m)
- Lowest APY in the last 266 days.
- Draw-down from High
- How far today sits below the 9-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
More Comparisons
Compare CIT Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| CIT Bank vs Ally Bank | 3.40% | $0 |
| CIT Bank vs American Express | 3.50% | $0 |
| CIT Bank vs Axos Bank | 4.51% | $0 |
| CIT Bank vs Bank of America | 0.01% | $100 |
| CIT Bank vs Barclays | 4.10% | $0 |
| CIT Bank vs BrioDirect | 4.20% | $5,000 |
| CIT Bank vs Capital One | 3.40% | $0 |
| CIT Bank vs Chase Bank | 0.01% | $0 |
| CIT Bank vs Chime | 3.75% | $0 |
| CIT Bank vs Discover Bank | 3.40% | $0 |
| CIT Bank vs Elevault | 4.34% | $0 |
| CIT Bank vs EverBank | 4.05% | $0 |
| CIT Bank vs Fitness Bank | 4.75% | $100 |
| CIT Bank vs FVCbank | 4.10% | $500 |
| CIT Bank vs GO2bank | 4.50% | $0 |
| CIT Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| CIT Bank vs Neighbors Bank | 4.50% | $0 |
| CIT Bank vs Newtek Bank | 4.35% | $0 |
| CIT Bank vs Peak Bank | 4.20% | $100 |
| CIT Bank vs Pibank | 4.60% | $0 |
| CIT Bank vs Presidential Bank | 4.50% | $5,000 |
| CIT Bank vs Santander Bank | 0.01% | $25 |
| CIT Bank vs SoFi Bank | 4.50% | $0 |
| CIT Bank vs TIMBR | 4.40% | $1,000 |
| CIT Bank vs UFB Direct | 3.96% | $5000 |
| CIT Bank vs Varo Bank | 5.00% | $0 |
| CIT Bank vs Wells Fargo | 0.05% | $25 |
| CIT Bank vs Zynlo Bank | 4.20% | $10 |