Synchrony Bank Review [2026]: Savings + CD Rates

Synchrony Bank overview

	Synchrony Bank
Best for	People who want to save more by earning high interest rates People who want to use ATMs to withdraw savings
Accounts offered	High-yield savings account CDs IRA CDs Money market account
Unique benefits and perks	ATM cards offered with savings account No minimum deposit requirements for CDs
Reviews and ratings	Mobile app App Store: 4.8/5 stars (75K+ reviews) Google Play: 4.6/5 stars (62K+ reviews) Trustpilot: 1.1/5 stars (1.3K+ reviews)
FDIC insurance	Synchrony Bank is a member FDIC (Cert. #27314)
ATMs	55,000+ fee-free ATMs in Allpoint network

Reach Your Savings Goals Faster

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

SoFi Checking and Savings Benefits

• Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Open an account with SoFi® here

What is Synchrony Bank?

Synchrony Bank is a digital bank headquartered in Utah. It's owned by Synchrony Financial, which has been in business since 1932. Synchrony Financial is the largest issuer of private-label credit cards (think store names like Lowe's, Amazon, and Sam's Club) in the U.S. and offers a variety of other lending services.

Synchrony Bank savings rates compared

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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4.3

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Enjoy $400 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.⁷ <p>Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $1,000 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.</p> FDIC Insured. Offer valid through 4/15/2026.

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4.8

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Bank of America Advantage Banking

Up to $500 cash offer. Click ‘Learn More' for more details. Bank of America, N.A. Member FDIC.

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Synchrony High Yield Savings

• APY: 3.50%
• Minimum balance for APY: $0
• Monthly service fee: $0

Synchrony's High Yield Savings (HYS) account is ideal for people saving for a long-term goal, such as a down payment on a car or house, who want to earn high interest rates without restrictive minimums or fees.

This Synchrony HYS account offers 3.50% annual percentage yield (APY), which is significantly higher than the national average of 0.39% (as of 12/15/25) and competitive with the best savings accounts.

Synchrony doesn't require a minimum deposit or minimum balance to earn the highest APY or avoid fees. It could be a good option for you if you're focused on building your savings and letting your money grow. With that said, the Synchrony High Yield Savings account is very unique for offering an ATM card if you need to dip into funds.

Few online savings accounts offer ATM cards. Synchrony High Yield Savings lets you withdraw cash at a Plus or Accel-branded ATM. Plus, it doesn't charge ATM fees and will refund up to $5 per statement cycle for domestic ATM fees charged by another financial institution. The daily cash withdrawal limit is $1,000, and the daily point-of-sale limit is $500. Synchrony limits users to only six transfers or point-of-sale purchases using their ATM card per statement cycle.

Synchrony savings pros and cons

Synchrony Bank CDs

• APY: 0.28%-4.10% (as of 11/03/25)
• Minimum balance for APY: $0
• Monthly service fee: $0

If you're looking for a higher return and won't need to access your money for a few months (or years), CDs can be a good savings strategy. Synchrony offers multiple terms on its CD accounts, ranging from three months to five years, and doesn't have minimum balance requirements or fees.

Synchrony CD rates today range from 0.28%-4.10% (as of 11/03/25) APY, with terms between six months and two years tending to offer the best yields. If you'll need your money within six months, you're better off using the Synchrony High-Yield Savings account.

If you select the Bump-Up CD with a 24-month term, you can "bump up" your APY once during the CD's term, provided CD rates increase.

If you need to access your money before the term is up, you'll pay a penalty. Synchrony's early withdrawal penalty starts at forfeiting three months' worth of simple interest (meaning the interest paid on your initial deposit) for a CD term of up to 12 months, based on the current rate when you make the withdrawal. If your term length is longer, you'll forfeit more interest, up to one year's worth for a 48-month or longer CD term.

We recommend Synchrony CDs if you already have a savings account there because of the mid- and long-term APYs offered. However, you may find similar CD APYs at another bank with more flexibility and account options.

Synchrony Bank IRA CD rates

In addition to standard CDs, Synchrony also offers IRA CDs with various terms lengths available from three months to 60 months. These IRA CDs offer the tax benefits that come with an IRA combine with the security and locked-in interest rate that comes with a CD. 

Synchrony Bank IRA CD rates range from 0.25%-3.90% (as of 12/9/25) APY.

Synchrony CD pros and cons

Synchrony Bank Money Market account

• APY: 2.00% (as of 11/03/25)
• Minimum balance for APY: $0
• Monthly service fee: $0

Although Synchrony Bank doesn't offer a checking account, it has a Money Market account. All balances in the Money Market Account earn 2.00% (as of 11/03/25) APY, whether you have $100 or $10,000 in the account.

The account also has no fees and no minimum balance requirements and comes with an ATM card and checks. However, like the High-Yield Savings account, you are limited to only six transfers or withdrawals during each statement cycle, including checks, automatic transfers, and point-of-sale purchases with your ATM card. ATM withdrawals don't count. Synchrony may charge a fee if you make more than six transactions in a statement cycle.

Synchrony's Money Market account will not replace a checking account. We recommend it if you keep the majority of your balance in the High-Yield Savings account and if you know you'll only need to write a check or two each month. Otherwise, finding another money market account offering a higher APY will help you earn more.

Synchrony Money Market pros and cons

Synchrony Bank fees

Customer service

Since you don't need a minimum balance, Synchrony Bank offers some of the easiest bank accounts to open. However, Synchrony's customer service is a mixed bag. It has a highly rated mobile banking app, but many customers report frustration with app crashes or problems with deposits.

Mobile app

Synchrony Bank's mobile app is available for both Apple and Android devices. It has a 4.8 out of 5-star rating on the Apple App Store with around 30,000 reviews. On the Google Play Store, it has a 4.6 out of 5-star rating and more than 6,000 reviews.

Despite the app being highly rated, customers report slow responses and trouble loading.

Customer support

Synchrony Bank offers customer support by phone at 1-866-226-5638. It has a 24/7 automated telephone service, and bankers are available Monday through Friday, 8 a.m. to 10 p.m. Eastern, and Saturday and Sunday, 8 a.m. to 5 p.m. Eastern.

You can also chat through the Synchrony website, send a secure message after logging into your account, and even send them a letter through the mail.

FAQs

Bottom line

Synchrony Bank may be a good option for people interested in earning a high APY on their savings accounts or CDs and who don't plan to have many transactions in or out of the account. However, the limited accounts and customer reviews of Synchrony Bank and its parent company, Synchrony Financial, suggest that you may find more account options and better service with another bank.

Before you sign up for a new bank account, check out our list of best banks and be sure to read the account disclosures and fee schedules carefully. Look for an account with no minimum balance requirements, no monthly fees, and with tools that help you make the most of your money.

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

High APY of up to 4.00% on Savings (3.30% APY¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>

Paycheck access up to 2 days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>

No monthly maintenance or overdraft fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>

Streamlined savings and savings goals with Vaults

Access to a large ATM network⁸ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>