Deposit Rates APY Vs.Others
Savings 1.05% 1.40% →
1-Year CD 0.90% 1.15% →
2-Year CD 1.00% 1.26% →
3-Year CD 1.15% 1.26% →
4-Year CD 1.15% 1.31% →
5-Year CD 1.20% 1.56% →

2020 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 $85.81 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Synchrony Bank
FDIC Certificate # 27314
Date Established 1988
Assets $85.81 billion
Loans $64.47 billion
Deposits $67.1 billion
Capital $9.42 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 - July 12, 2020

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Savings
1.05% $1 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12 Month CD
0.90% $2,000 - Learn More
18 Month CD
0.90% $2,000 - Learn More
2 Year CD
1.00% $2,000 - Learn More
36 Month CD
1.15% $2,000 - Learn More
48 Month CD
1.15% $2,000 - Learn More
60 Month CD
1.20% $2,000 - 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.

Customer Reviews for Synchrony Bank (60)

  • June 09, 2020 |

    Online Savings Rates

    I had stuck with Synchrony for years even though the website is so much worse than any of the others. Quietly dropping the rate - with no notice to customers - it is the final straw.

  • April 23, 2020 |

    Online CDs 12 Month Rates

    Their CD rates fell below those of other reputable banks so I am not using them right now. At maturity, my funds were transferred to my bank the next business day. It can't get any better than that.

  • February 14, 2020 |

    Online Savings Rates

    Plenty not to like about Synchrony's service (no ability to contact the bank through the interface). Add to the list that it is impossible to go paperless.

  • October 14, 2019 |

    Online CDs 12 Month Rates

    Have accts with all major online banks and this is by far the worst. 4 days to make a transfer - factor that in and your rate is much lower than advertised. Plus, there is no ability to contact CSR through website which is terrrrrible. It really should not be listed as one of the majors on the site.

  • September 21, 2019 |

    Online CDs 36 Month Rates

    My CD matured and they held the money for 3 days before moving it to my savings account with Synchrony! That is called highway robbery.

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