Synchrony Bank: Savings Account & Rates

By Aviel Fahl

Updated: 4/16/2026

Mission: Banksparency aims to make Synchrony Bank's savings account transparent and comparable to the market.

Interest rates reported as APY

Analysis of Synchrony Bank

Our verdict

Synchrony Bank offers High Yield Savings, a high-yield savings account paying 3.50% APY with no minimum deposit.

At 3.50% APY, Synchrony Bank pays 9x the national average (0.39%). Ranks in the top tier of 98+ accounts tracked.

Ideal User Profile

Best for: simple saving without extra requirements, banking without needing a branch, and managing money from your phone.

Key Differentiators

Stands out with top-rated iOS app (4.8), highly-rated Android app (4.5).

Savings Overview

High Yield Savings

3.50% APY

Rate Adjusted

-0.15%

Since 90 days ago

No Minimums Online Only

Min. Deposit	$0
Min. Balance	$0
Maintenance Fee	$0

Rank #56 of 98 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.07% APY.

See Top Rates

National Avg: 0.39% (FDIC, 3/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationStamford, Connecticut
Founded1932
AffiliationSynchrony Financial
Ratings & Trust
4.8iOS 4.5Android Not RatedBBB Not BBB Accredited
Zelle® SupportNo Support
Standard ACH or Wire transfers only.
Deposit InsuranceFDIC Insured(Cert: 27314)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$0
Min. Balance in Savings Account	$0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.6

The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

PREMIUM ACCOUNT, GENEROUS BONUS

SponsoredVerified Apr 16, 2026

FDIC Insured

CIT Bank - Platinum Savings

Competitive APY - with a balance of $5,000+
Earn up to $300 bonus with qualifying deposit
Highly rated mobile apps

FDIC Insured

Savings3.75%APY

Up to$300Bonus

Go to CIT Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$5,000
Mobile Ratings	iOS:4.8 Android:4.7

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Apr 16, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.35%APY

Go to Quontic Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$0
Mobile Ratings	iOS:4.8 Android:4.8

Top Market Contenders

Axos Bank

4.21% APY

vs. Synchrony Bank

Barclays

3.75% APY

vs. Synchrony Bank

American Express

3.20% APY

vs. Synchrony Bank

Popular Peer Comparisons

Chase Bank vs Santander Bank SoFi Bank vs Varo Bank Barclays vs CIT Bank American Express vs Discover Bank Capital One vs Discover Bank Ally Bank vs EverBank

Savings Account: In-Depth View

Savings Account Offered by Synchrony Bank

Feature	High Yield Savings
APY	3.50%Verified: 4/16/2026
APY Trend	Rate Adjusted -0.15% Since 90 days ago
Min. Deposit	$0
Min. Balance	$0
Monthly Fee	$0
Direct Deposit	None
Checking Bundle	No
Branch Access	None
Compounding	Daily
FDIC Insured	Yes
Eligibility	United States
Next Steps	-

Calculate Savings for Synchrony Bank

All calculations are based on APY.

Selected Product

High Yield Savings3.50% APY

Initial Deposit

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,363.30(8.9%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,363.30

Effective APY

3.50%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Synchrony Bank Savings Rates Over Time

Historical APY Insights

Last 12 Months

Metric	High Yield Savings
Latest APY	3.50%
Trend	Sideways
Slope (bps/mo)	-4.2
Rate Changes / Mo	0.25
Days Since Last Change	79
High (-12m)	4.00%
Low (-12m)	3.50%
Draw-down	-12.5%
Volatility (CV)	0.042

How to read these metrics▼

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 365-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with Synchrony Bank

Feature	Current View Synchrony Bank	Empty Slot
Product	High Yield Savings	-
APY	3.50%Verified: 4/16/2026	-
APY Trend	Rate Adjusted -0.15% Since 90 days ago	-
Min. Deposit	$0	-
Monthly Fee	$0	-
Direct Deposit	No	-
Checking Bundle	No	-
Branch Access	None	-
Eligibility	United States	-
Compounding	Daily	-
FDIC Insured	Yes	-
Next Steps	-	-

Bank-to-Bank Comparisons

Compare Synchrony Bank's APY of 3.50% with other banks

Bank Pair	Competitor APY	Min Deposit
Synchrony Bank vs Affirm	3.20%	$0
Synchrony Bank vs Ally Bank	3.10%	$0
Synchrony Bank vs American Express	3.20%	$0
Synchrony Bank vs Axos Bank	4.21%	$0
Synchrony Bank vs Bank of America	0.01%	$100
Synchrony Bank vs Barclays	3.75%	$0
Synchrony Bank vs Bask Bank	0.25%	$0
Synchrony Bank vs Betterment	3.90%	$10
Synchrony Bank vs BMO Alto	3.15%	$0
Synchrony Bank vs Bread Savings	4.00%	$100
Synchrony Bank vs BrioDirect	3.75%	$5,000
Synchrony Bank vs Capital One	3.20%	$0
Synchrony Bank vs Charles Schwab Bank	0.15%	$0
Synchrony Bank vs Chase Bank	0.01%	$0
Synchrony Bank vs Chime	3.00%	$0
Synchrony Bank vs CIT Bank	3.75%	$100
Synchrony Bank vs Citibank	3.15%	$0
Synchrony Bank vs Citizens Access™	3.15%	$0.01
Synchrony Bank vs Climate First Bank	4.01%	$50
Synchrony Bank vs Discover Bank	3.30%	$0
Synchrony Bank vs E*TRADE from Morgan Stanley	3.25%	$0
Synchrony Bank vs Elevault	3.82%	$0
Synchrony Bank vs EverBank	3.90%	$0
Synchrony Bank vs Fitness Bank	4.50%	$100
Synchrony Bank vs FNBO Direct	3.00%	$1
Synchrony Bank vs Forbright Bank	3.85%	$0
Synchrony Bank vs GO2bank	4.50%	$0
Synchrony Bank vs Ivy Bank	3.85%	$2,500
Synchrony Bank vs LendingClub	4.00%	$0
Synchrony Bank vs Marcus by Goldman Sachs	3.65%	$0
Synchrony Bank vs Neighbors Bank	4.20%	$0
Synchrony Bank vs Newtek Bank	4.20%	$0.01
Synchrony Bank vs Openbank	4.00%	$500
Synchrony Bank vs Peak Bank	3.82%	$100
Synchrony Bank vs Pibank	4.40%	$0
Synchrony Bank vs PNC	3.25%	$0
Synchrony Bank vs Santander Bank	0.01%	$25
Synchrony Bank vs SoFi Bank	4.00%	$0
Synchrony Bank vs TD Bank	2.00%	$0
Synchrony Bank vs UFB Direct	3.46%	$5000
Synchrony Bank vs Upgrade	3.05%	$0
Synchrony Bank vs Varo Bank	5.00%	$0
Synchrony Bank vs Wealthfront	4.20%	$0
Synchrony Bank vs Wells Fargo	0.05%	$25