• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
APY GUY: Maximize Your Savings & Earnings

APY GUY: Maximize Your Savings & Earnings

MENUMENU
  • Saving and Spending
    • CDs
      • CD Rates Forecast 2022 – Will Rates go up in August and September?
      • Capital One CD Rates
      • Ally Bank CD Rates
      • Chase CD Rates
      • Citibank CD Rates
      • Discover Bank CD Rates
      • US Bank CD Rates
      • Fidelity CD Rates
      • Edward Jones CD Rates
      • Charles Schwab CD Rates
      • Navy Federal Credit Union CD Rates
      • Vanguard CD Rates
    • Savings
      • Best High Yield Online Savings Accounts [July 2022]
      • Aspiration Spend & Save
      • Bask Bank High Interest Savings
      • Citi Accelerate Savings
      • Affirm Savings
      • Smarty Pig
      • Tab Bank High Yield Savings
      • Vio Bank Online Savings
      • Crypto Interest Accounts
      • Alternatives to CDs and Savings
    • Checking & Debit
      • 29 Best Debit Cards for Kids & Teens [August, 2022]
      • Best Bank Promotions & Cash Bonuses for 2022
      • Citibank Checking Account Bonuses
      • Huntington Bank Bonuses
      • PNC Bank Bonuses
      • Truist Bank Bonuses
      • Wells Fargo Checking Account Bonus
      • Chase First Banking
      • Fidelity Youth Account
      • Verizon Family Money
      • Copper Banking
      • BusyKid
      • Greenlight
  • Investing
    • Real Estate
      • Top 8 Real Estate Crowdfunding Platforms for 2022
      • Yieldstreet Review 2022 – 9.71% Avg Annual Returns
      • CrowdStreet
      • Fundrise Review: Compare Annual Returns vs Competitors
    • Stocks & More
      • Best Stock Screening Service
      • MotleyFool
      • Stansberry Research
      • Seeking Alpha
      • Zacks Investment Research
      • Citi Personal Wealth Management
      • Robinhood Cash Management
      • Fidelity Cash Management
You are here: Home / CD Rates / Synchrony Bank CD Rates – Now up to 3.10% APY!

Synchrony Bank CD Rates – Now up to 3.10% APY!

Lauren Graves
July 8, 2022

[Update July, 2022: Synchrony Bank’s CD rates are on the rise again this month. All terms have seen a yield increase by between 0.10% and 0.25% APY so far this July. This is the second time Synchrony Bank has increased their CD rates since the FED’s prime rate hike on June 15. We should also note, another major rate hike is expected during the FED’s July 25th and 26th meetings. See all of Synchrony Bank’s CD rates below.]

image credit: Unsplash

Synchrony Bank is an ultra-convenient, online-only bank that you’ve probably seen advertised in various places online over the years.

More than just the result of good marketing, Synchrony has gained a great deal of recognition and praise for regularly having some of the best rates on the market across their product suite. The likes of Nerdwallet, MyBankTracker, and Bankrate have awarded this bank for having the best CD and savings accounts for multiple years.

This bank traces its history all the way back to 1932 when General Electric founded the GE Contracts Corporation for financing appliance purchases. This became the General Electric Capital Corporation or GE Capital in 1943. GE Capital remained in operation for more than a half century before being spun off and rebranded as Synchrony Bank on June 2, 2014.

Synchrony Bank’s current deposit products feature above average rates on a wide range of variable and fixed rate accounts. Synchrony Bank doesn’t offer a checking account at this time however, therefore may not meet all of your banking needs.

Synchrony Bank has a high yield savings account, CDs, IRA CDs, a money market account, and IRA money market accounts in its current lineup. These are all competitive, interest-bearing accounts that can be opened and managed digitally. This can be done online or with the highly-rated MySynchrony mobile app(s) for Apple or Android devices.

All of Synchrony Bank’s deposit products are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint accounts.

Below is our full review of Synchrony Bank’s deposit products.

In this post you'll learn:

  • Synchrony Bank CD Rates + Account Details
  • CD Rates
  • 15 Day Best Rate Guarantee
  • Early Withdrawal Penalties & Grace Period
  • Opening an Account
  • Funding your Deposit Account

Synchrony Bank CD Rates + Account Details

Synchrony Bank has plenty of CD terms to choose from with competitive rates across the board. All certificates of deposit at Synchrony Bank require a minimum opening deposit of $2,000. Like all other savings accounts with Synchrony, interest is compounded daily and credited monthly.

CD Rates

CD TermAPY
3 months0.80%
6 months1.30%
9 months1.35%
11 month No Penalty1.30%
12 months2.00%
13 months2.00%
14 months2.00%
15 months2.00%
16 months2.00%
18 months2.25%
19 months2.25%
24 month2.40%
36 months2.60%
48 months2.60%
60 months3.10%

To put these offers in perspective the current national average for a 12 month CD and a 60 month CD sit at just 0.25% and 0.48% APY, respectively, according to recent FDIC data.

15 Day Best Rate Guarantee

A 15-day Best Rate Guarantee is applied to all Synchrony bank CDs. This means that if you open a CD and fund it sufficiently within 15 calendar days and the posted rate then becomes higher than what you locked into, the new higher rate will be applied to your account. Don’t underestimate the value of this free insurance during periods of high rate fluctuation.

Early Withdrawal Penalties & Grace Period

Early withdrawal penalties will be charged when you withdraw funds after opening an account but before it reaches maturity or after the 10 day grace period is up following maturity. This will be 90 days’ simple interest for terms of 12 months or less, 180 days’ simple interest for terms between 12 and 48 months, and 365 days’ simple interest for terms of 48 months or more.

CDs automatically renew at maturity and have a grace period of 10 days in which you can deposit or add funds freely.

Opening an Account

As is the case with many digital banks, just about anyone can open a deposit account with Synchrony Bank.

To open an account, you must be a U.S. citizen at or above the age of 18, have a valid Social Security number, phone number, and mailing address within the United States.

To get started, visit the Synchrony Bank website and select “Open Account.”

You will first be asked whether or not this is your first Synchrony Bank account, then you will be provided with a form to fill out.

The final step, after signing a couple of agreements and opting in to online access, will be to fund your account. This can be done in a few different ways.

Funding your Deposit Account

Fund your Synchrony Bank savings accounts via:

  • ACH transfer from an external account,
  • transfer from a Synchrony account,
  • mobile check deposit,
  • direct deposit from a third party,
  • wire transfer, or
  • personal check mailed to: Synchrony Bank, PO Box 105972, Atlanta, GA 30348-5972

ABOUT THE AUTHOR

Lauren Graves: Lauren is a writer and editor specializing in personal finance and education. She works for the digital publishing company, Dotdash, as a content update editor and writes for SavingforCollege when she's not writing for APYGUY. A former educator, she is passionate about teaching and hopes to help others save and spend smarter through accessible and informative writing.
Read More

Filed Under: CD Rates

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

APY Updates

  • Redneck Bank Review – Up to 2.25% APY!
    August 19, 2022
  • 29 Best Debit Cards for Kids & Teens [August, 2022]
    August 18, 2022
  • Robinhood Cash Management – Now 1.50% APY on Idle Cash
    August 18, 2022
  • NASA Federal Credit Union CD Rates – Up to 3.85% APY!
    August 17, 2022
  • Alaska USA Federal Credit Union CD Rates – Now up to 1.50% APY!
    August 16, 2022
  • UFB Direct Rewards Savings Account – 2.12% APY!
    August 16, 2022
  • Citi Accelerate Savings – Now 1.65% APY!
    August 15, 2022

The Big Banks

  • Bank of America CD Rates
  • Capital One CD Rates
  • Citibank CD Rates
  • Chase Bank CD Rates
  • Wells Fargo CD Rates
  • U.S. Bank CD Rates

Noteworthy Credit Unions

  • Navy Federal Credit Union CDs and Savings
  • Patelco Credit Union CDs and Savings
  • PenFed CDs and Savings
  • Connexus Credit Union CDs and Money Market

Brokered CDs

  • Edwards Jones
  • Charles Schwab
  • Fidelity
  • Vanguard

Alternatives

  • 12 Alternatives to CDs and Savings Accounts

Real Estate Investment Platforms

  • Fundrise - up to 22% Returns
  • CrowdStreet - up to 17.1% Returns
  • Yieldstreet - Avg 10.61% Returns

Footer

Disclaimer

APY GUY strives to keep its information as accurate and up to date as possible. This information may be different than what you see at a bank, credit union or other financial institution. This applies to both in person visits and their website(s). Any financial products or services represented or discussed on this website are without warranty. When evaluating offers viewed on APYGUY.com, please read the financial institution’s Terms and Conditions.

About Us. Privacy Policy. Terms Of Use. How We Make Money.

Categories

Connect with Us:

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Know of a fantastic APY offered by your local bank or credit union?

Don’t be shy, please share!

Send an email to hello@apyguy.com with the name of the institution, rate (APY) and type of product.

Our editorial staff will confirm the product, rate and APY (annual percentage yield) with the institution and publish it immediately for our viewers.

Copyright © 2022 - APYGUY: Maximize Your Savings & Earnings

Home>CD Rates>Synchrony Bank CD Rates – Now up to 3.10% APY!