- 3.55% APY on High Yield Savings, as of 10/13/2026
- CDs from 4.10% to 4.50% APY, with no minimum deposit
- No monthly service fees on any account
- No checking account and no branches
- FDIC insured up to $250,000 per ownership category
| Type | Online savings bank. Synchrony Bank, Member FDIC |
|---|---|
| Savings APY | 3.55% on High Yield Savings, as of 10/13/2026, variable |
| Money market APY | 2.00% as of 10/13/2026 |
| CD APYs | 4.20% (12 month), 4.40% (13 month), 4.50% (60 month), as of 10/13/2026 |
| Monthly fee | $0 on every account |
| Minimum to open | No minimum deposit on savings, money market or CDs |
| Checking and overdraft | No checking account, so no overdraft |
| ATMs | Optional ATM card on savings and money market. Synchrony refunds other banks’ ATM fees up to $5.00 per statement cycle |
| Sign-up bonus | None shown on Synchrony’s savings pages |
| iPhone app rating | 4.8 out of 5 from 36,931 ratings on the App Store, read October 13, 2026 |
| Android app rating | 4.6 out of 5 from 7,387 ratings on Google Play, read October 13, 2026 |
Our take: Synchrony Bank is a good place for savings and CDs if you already have checking somewhere else. It pays 3.55% APY on savings as of 10/13/2026 with no minimums and no monthly fees.
What Synchrony Bank offers
Three kinds of deposit accounts: High Yield Savings, a Money Market Account and CDs, plus IRA versions of the same. That’s the whole list.
Everything runs online and in the Synchrony Bank app. You can move money in by linked-account transfer, direct deposit, mobile check deposit (up to $2,000 a day per account), wire or a mailed check.
High Yield Savings
The rate is 3.55% APY as of 10/13/2026. On $10,000 for a year, that’s about $355 if the rate never moved. It won’t stay put, though, because the page itself says the rate can change after you open the account.
You get no minimum deposit, no minimum balance and no monthly fee. An optional ATM card works at machines with the Plus or Accel logo, and the bank doesn’t charge you to use one. If another bank’s machine does, you get up to $5.00 a statement cycle back. Diamond status in its Perks Rewards Program removes that cap.
Checks aren’t available on the savings account. The money market account, at 2.00% APY, does let you write checks, but the rate is far lower, so most people won’t bother.
CDs
This is where Synchrony pushes hardest. As of 10/13/2026, the APYs are:
- 6 month 4.10%, 9 month 4.15%, 12 month 4.20%
- 13 month 4.40%, 14 to 16 month 4.30%
- 18, 19 and 24 month 4.35%
- 36 and 48 month 4.40%, 60 month 4.50%
There’s no minimum deposit. Two oddities: the 3-month CD and the 11-month No-Penalty CD both list 0.25% APY, so look past those. There’s also a 24-month Bump-Up CD at 3.00%, which lets you ask for one rate increase during the term if Synchrony’s Bump-Up rate rises.
The early withdrawal penalty is simple interest at the current rate. A CD of 12 months or less loses 90 days of it. One over 12 months and under 48 loses 180 days. At 48 months or more, you give up 365 days.
Say you put $10,000 in the 13-month CD at its 4.30% interest rate. Pulling it out early costs about $212. How bad is that? Not great, not a disaster.
You can take out interest already paid during the term with no penalty. You can’t add money mid-term. After maturity you get a 10-day grace period to add funds, and if you do nothing, the CD rolls over at whatever rate is offered then.
What it costs
Close to nothing. Its own comparison page says no monthly service fees on any account, and transfers to and from savings and money market are free.
The charges you might hit are small. An outgoing wire is $25.00, you’ll cover any ATM owner’s fee beyond the refund, and you’ll eat a penalty if you break a CD early.
Pros and cons
Pros
- 3.55% APY on High Yield Savings as of 10/13/2026, with no minimum deposit and no minimum balance.
- CD APYs run from 4.10% (6 month) to 4.50% (60 month), and there is no minimum deposit.
- No monthly service fees on any account, and transfers to and from savings are free.
- An optional ATM card refunds other banks’ ATM fees up to $5.00 a statement cycle.
- Mobile check deposit up to $2,000 a day per account.
Cons
- No checking account, no debit card and no branches.
- The savings rate is variable, and EverBank shows 4.20% for new accounts as of 10/09/2026.
- The money market account pays only 2.00%, and the 3-month and 11-month No-Penalty CDs show 0.25% APY.
- Breaking a CD early costs 90, 180 or 365 days of interest, depending on the term.
- No sign-up bonus is shown on the savings or CD pages.
Who should open it
Open it if you want an emergency fund or a CD ladder at a bank that doesn’t ask for a minimum. The 12-month CD at 4.20% and the 60-month at 4.50% are the draw for you.
It’s a weaker fit if rate is all you care about on savings. EverBank shows 4.20% on Performance Savings for new accounts as of 10/09/2026, which on $10,000 is about $65 a year more than Synchrony’s 3.55%. Both rates are variable.
And it’s not for you if you want a debit card, bill pay or cash deposits. Synchrony doesn’t do checking.
How to open
Start at Synchrony Bank’s savings site or in the app. Bankers answer at 1-866-226-5638 on Monday to Friday from 8:00 a.m. to 10:00 p.m. ET and on weekends from 8:00 a.m. to 5:00 p.m. ET. Phone service is automated 24/7, and chat is available too.
Synchrony vs. alternatives
- EverBank: Performance Savings pays 4.20% APY on all balances for new accounts as of 10/09/2026, with $0 to open and no monthly fee.
- Ally Bank: Online Savings pays 3.1% APY as of 10/12/26, and Ally also offers a checking account (Spending) with no monthly fee.
- Axos Bank: Summit Savings lists a total of 4.01% APY for the first six statement cycles for new customers who open it with promo code SUM26 by October 31, 2026.
Synchrony Bank could make sense if you want savings or CDs with no minimums and no monthly fees, and you already have a checking account somewhere else.
FAQ
Yes. Synchrony Bank is a member of the FDIC. Your deposit accounts are insured up to $250,000 per ownership category.
3.55% APY on High Yield Savings as of 10/13/2026. It’s variable and can change after you open the account.
No. Its personal banking products are High Yield Savings, a Money Market Account and CDs. The money market account does come with checks.
No minimum deposit is listed on High Yield Savings, the Money Market Account or the CDs.
You lose simple interest at the current rate: 90 days on terms of 12 months or less, 180 days on terms over 12 and under 48 months, and 365 days on terms of 48 months or more.
None is shown on its savings or CD pages today.
Sources (11)
We use primary sources: each company’s own product pages and legal terms.
- Synchrony Bank. High Yield Savings. synchrony.com. Accessed October 13, 2026.
- Synchrony Bank. Certificates of Deposit. synchrony.com. Accessed October 13, 2026.
- Synchrony Bank. Non-IRA Rates and Terms. synchrony.com. Accessed October 13, 2026.
- Synchrony Bank. Money Market Account. synchrony.com. Accessed October 13, 2026.
- Synchrony Bank. Compare Products. synchrony.com. Accessed October 13, 2026.
- Synchrony Bank. Contact Synchrony Bank. synchrony.com. Accessed October 13, 2026.
- Apple App Store. Synchrony Bank. apps.apple.com. Accessed October 13, 2026.
- Google Play. Synchrony Bank. play.google.com. Accessed October 13, 2026.
- EverBank. Rates. everbank.com. Accessed October 13, 2026.
- Ally Bank. Online Savings Account. ally.com. Accessed October 13, 2026.
- Axos Bank. Savings Accounts. axosbank.com. Accessed October 13, 2026.
Take the next step.
See what Synchrony Bank pays today.
Rates, terms and availability change. Check the current terms on Synchrony Bank’s site before you open an account.