CIT Bank vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CIT BankPlatinum Savings Jan 21, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.25% - 3.75% | 3.65% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $100 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%. | - |
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing CIT Bank vs. Synchrony Bank
As of CIT Bank offers an APY of 3.75% for its Platinum Savings account, with a minimum balance of $5,000, compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
CIT Bank pays $10 more than Synchrony Bank on a $10,000 balance after one year. CIT Bank pays $375, while Synchrony Bank pays $365 - an APY advantage for CIT Bank.
In addition, CIT Bank also offers 3.65% APY for the Savings Connect account, with a minimum balance of $0.
Why CIT Bank?
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
No distinct advantages found vs CIT Bank.
— Key Feature Differences —
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $912/yr).
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $10 more interest on a $10,000 balance than Synchrony Bank's High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
CIT Bank offers a competitive savings option with its Platinum Savings account, which features a higher APY of 3.75% for balances of $5,000 or more, while lower balances earn 0.25%. In comparison, Synchrony Bank's High Yield Savings account provides an APY of 3.65%, making the rates between the two banks nearly identical. Both accounts are online-only, require no maintenance fees, and have no direct deposit requirements. However, for those able to meet the balance requirement, CIT Bank's Platinum Savings account yields better returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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CIT Bank vs. Synchrony Bank Savings Calculator
You earn $10 more with CIT Bank than Synchrony Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | CIT Bank | Synchrony Bank |
|---|---|---|
| APY | 3.75% Range: 0.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Platinum Savings | High Yield Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.5 |
| Zelle® Support | Available Supported for eChecking users post-First Citizens merger. | Not Supported |
| BBB Rating | A- | Not Rated |
| Important Notes | This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%. | - |
| Next Steps | Visit SiteGo to CIT Bank * Secure link to our partner | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | CIT Bank | Synchrony Bank | |
|---|---|---|---|
| Savings Connect | Platinum Savings | High Yield Savings | |
Current APY | 3.65% | 3.75% | 3.65% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.6 | -4.9 | -3.5 |
Days Since Change | 62 | 62 | 64 |
12-Month High | 4.00% | 4.35% | 4.10% |
12-Month Low | 3.65% | 3.75% | 3.65% |
Adjustments / Mo | 0.25 | 0.41 | 0.25 |
Volatility Score | 0.036 | 0.046 | 0.035 |
How to read these metrics(Click to expand)
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