Synchrony Bank

ACH 021213591

Deposit Rates APY Vs.Others
Savings 4.75% 5.50% →
1-Year CD 5.00% 5.50% →
2-Year CD 4.20% 5.00% →
3-Year CD 4.15% 5.10% →
4-Year CD 4.00% 4.60% →
5-Year CD 4.00% 4.61% →

2024 Overview

General Online Bank Information

Money that you deposit is held by Synchrony Bank. Synchrony Bank is an FDIC insured institution founded in 1988. It has approximately $105.28 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Synchrony Bank
FDIC Certificate # 27314
Date Established 1988
Assets $105.28 billion
Loans $83.37 billion
Deposits $79.56 billion
Capital $12.09 billion

For a more detailed analysis of Synchrony Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 26, 2024

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Savings
4.75% $0 - Learn More
Money Market
Money Market
2.25% $0 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
6 Month CD
4.80% $0 - Learn More
9-Month CD
5.15% $0 - Learn More
12 Month CD
5.00% $0 - Learn More
18 Month CD
4.50% $0 - Learn More
2 Year CD
4.20% $0 - Learn More
24 Months - Bump Up
3.90% $0 - Learn More
36 Month CD
4.15% $0 - Learn More
48 Month CD
4.00% $0 - Learn More
60 Month CD
4.00% $0 - Learn More


Bank Offers

Synchrony Raises Savings Rate to 1.75%
Jun 6, 2018

Synchrony Bank has raised their online savings rate to 1.75%.

Synchrony Raises Its Online Savings Rate to 2.20%
Dec 26, 2018

Synchrony has raised its online savings rate to 2.20%.

Synchrony Lowers Savings Rate to 2.15%; Lowers All CD Rates
Jul 11, 2019

Synchrony has lowered their online savings rate by 10 basis points from 2.25% to 2.15% APY.   They have also lowered all of the CD rates today.

Synchrony Lowers CD Rates Again
Aug 13, 2019

Synchrony Bank has lowered its CD rates again this morning.   Their 1-year rate is now 2.45% from 2.50% and their 5-year CD is now 2.65% from 2.80%.   Other maturities were also adjusted downward.

Synchrony Cuts its Online Savings Rate to 2.00% APY
Sep 4, 2019

Synchrony has cut its online savings rate to 2.00% APY.   Once very competitive in the online savings and CD market, Synchrony's savings and CD offerings are no longer competitive.

Synchrony Cuts its Online Savings Rate to 1.50% APY
Mar 18, 2020

Synchrony also cut its CD rates.   1-year is now 1.50% APY and 5-year is now 1.65% APY.

Synchrony's CD rates just go lower and lower
Jul 23, 2020

Synchrony has dropped their 1-year CD rate from 0.90% to 0.75% APY.   A 5-year CD is now 1% APY.   There are no circumstances where someone should be locking into a 5-year CD at 1%.

Synchrony Slashes Online Savings Rate to 0.75% APY
Jul 31, 2020

Synchrony cut its online savings rate from 1.05% to 0.75% APY today.

Synchrony Lowers Online Savings Rate Again
Sep 30, 2020

Synchrony has lowered its online savings rates from 0.75% APY to 0.65% APY overnight.

Synchrony Lowers Everything Again
Oct 27, 2020

Synchrony has lowered its online savings rates by 5 bps to 0.60% APY.

It has also adjsuted most of its CD rates lower.

Synchrony Lowers Online Savings Rate to 0.55% APY
Jan 27, 2021

Synchrony has lowered its savings rate by 5 bps from 0.60%.

Synchrony Lowers Online Savings Rate to 0.50% APY
Feb 25, 2021

Synchrony has lowered its online savings rate to 0.50%, down 5 basis points again.   It has also lowered all of its online CD rates by 0.05%, except the 5-year which remains at 0.80%. 

Synchrony Raises Its Online Savings Rate to 2.05% APY
Sep 1, 2022

Synchrony has raised its online savings rate to 2.05% from 1.80% today.

Synchrony Raises Its Online Savings Rate to 2.75% APY
Oct 26, 2022

Synchrony's rate is still well below the leading online banks, including the CIT and Citizens that are already at 3%.

Synchrony Raises Online Savings to 3.00%
Nov 4, 2022

Synchrony raised its online savings rate from 2.75% to 3.00% today.   It was raised from 2.40% about a week ago.

Synchrony Bank raises online savings rate to 3.25% APY
Nov 16, 2022

Among the well recognized online banks, Synchrony is again a rate leader, but lesser known names are paying more on online savings.

Synchrony Raises Online Savings to 4.75% APY
Sep 13, 2023

Synchrony's online savings rate was raised today from 4.50% to 4.75% APY, making it the highest yielding savings offer of the major online banks.

Climate Initiatives

Synchrony Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.

Customer Reviews for Synchrony Bank (76)

  • October 23, 2023

    Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push notification with Credit Karma. I am more so concerned about the Levin account. I called into customer service and the first representative I spoke with was extremely rude. He told me a letter was sent to me and he read the text of that letter. He eventually hung up on me. The reasons for my closure is completely bogus. I understand I agreed to their terms and conditions upon opening the account, but that doesn't mean I can't dispute their decision. I called back in and spoke with a friendly rep who transferred me to a supervisor. The supervisor told me it is impossible to reinstate my account, although reading some of the other complaints on BBB it seems they did reinstate other accounts for people. She gave me the corporate address to which I mailed a letter. I also filed a
    complaint through the chat system on their website. They sent me an email a few days letter with another letter that basically said the same thing as the first one. It was a do not reply email address so I couldn't send a response back. I have made every single payment on time for all 3 accounts that were closed, I had these accounts for years! It's no wonder why these guys have a 1.9 BBB rating. Closing your customers' accounts for bogus reasons is terrible customer service. I will consider my complaint resolved when all 3 of my closed accounts are re-opened. Until then, I will continue mailing letters and filing complaints with customer service.

  • June 13, 2022 |

    Online Savings Rates

    3 days for an ach is not market when most banks on this list do it instantly. even frigging rising bank. customer service is beyond dreadful.

  • April 17, 2022 |

    Impossible to deal with customer service. Impossible to change phone number, email, etc. Worst of all - they send letter of renewal AFTER expiration of new terms, and it's impossible to withdraw money. They advertise 24/7hours of service; in fact, they work five short days per week. The only plus - they usually have competitive rates.

  • January 23, 2021 |

    Online Savings Rates

    In terms of service, you cannot do anything online. On every other bank, you can message someone online and get a quick response. You need to call Synchrony and speak with someone in the Philippines. Nice folks, but I don't want them handling my banking info! To boot, you cannot turn off paper statements. Even the people in the Philippines cannot do that for you. Pick any other bank from this list and you'll be better off!

  • January 23, 2021 |

    Online Savings Rates

    Synchrony is the only thing left over from the old GE. Here in Stamford, CT, you will see their building on Long Ridge Road where GE used to be. It is like a shit stain, except Synchrony today never would have made GE proud.

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