Synchrony Bank

Last Updated: 7/15/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

High Yield Savings: 3.80% APY(Rank 60 out of 77 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 6/16/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: Stamford, Connecticut

Founded: 1932

Affiliation: Synchrony Financial

BBB Rating: Not Rated

App Store Rating: 4.8/5

Google Play Rating: 4.6/5

Website: Visit Synchrony Bank

Our Take on Synchrony Bank

Highlights

  • High Yield Savings account offers a competitive APY of 3.80%
  • No minimum deposit or balance requirements for the account
  • No monthly maintenance fees associated with the account
  • App Store rating of 4.8 and Google Play rating of 4.6

Considerations

  • BBB rating is Not Rated, indicating lack of evaluation
  • No physical branches available for in-person service
  • Direct deposit is not required, but may limit some users
  • Current APY has not changed in the last 30 days
Summary: Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.80%, no minimum deposit, and no maintenance fees. However, it lacks a BBB rating and has no physical branches. While the account does not require direct deposit, this may limit some potential customers. The bank's mobile app ratings are strong, reflecting user satisfaction. Overall, it is a solid choice for online savers seeking high yields.

Savings Account

Savings Account Offered by Synchrony Bank

FeatureHigh Yield Savings
APY
3.80% (as of 7/15/2025)
APY TrendStable for the last month
Minimum Deposit$0
Minimum Balance for APY$0
FDIC-insured
Yes
Online OnlyYes
Bundled Account
No
Direct Deposit Required
No
Compound Frequency
Daily
Maintenance Fee$0
EligibilityUnited States

No deposit agreement summary available for this bank.

Calculate Savings for Synchrony Bank

All calculations are based on APY.

High Yield Savings (APY: 3.80%)

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $4 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 3.80% (based on your deposit and contributions)

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

MetricHigh Yield Savings
Latest APY3.80 %
TrendSideways
Slope (bps/mo)-4.6
Rate Changes / Mo0.34
Days Since Last Change43
High (-6 m)4.10 %
Low (-6 m)3.80 %
Draw-down from High-7.3 %
Volatility (CV)0.024
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-6 m)
Highest APY in the last 175 days.
Low (-6 m)
Lowest APY in the last 175 days.
Draw-down from High
How far today sits below the 6-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Compare Synchrony Bank's Savings Account

  • Affirm - 3.85% APY
  • All America Bank - 1.50-3.25% APY
  • Ally Bank - 3.50% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.60% APY
  • Axos Bank - 4.66% APY
  • Bank5 Connect - 4.05% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.20% APY
  • Betterment - 4.00% APY
  • BMO Alto - 3.50% APY
  • Bread Savings - 4.25% APY
  • BrioDirect - 4.30% APY
  • Capital One - 3.50% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.25-3.75% APY
  • CIBC Bank USA - 4.02% APY
  • CIT Bank - 0.25-4.00% APY
  • Citibank - 3.50% APY
  • Citizens Access™ - 3.70% APY
  • Colorado Federal Savings Bank - 4.25% APY
  • ConnectOne Bank - 4.00% APY
  • Customers Bank - 4.23% APY
  • Discover Bank - 3.50% APY
  • E*TRADE from Morgan Stanley - 4.00% APY
  • EverBank - 4.30% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
  • Flagstar Bank - 4.00% APY
  • Forbright Bank - 4.25% APY
  • FVCbank - 4.35% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.20-4.20% APY
  • Live Oak Bank - 4.10% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • My Banking Direct - 4.30% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.30% APY
  • Peak Bank - 4.44% APY
  • Pibank - 4.60% APY
  • PNC - 3.95% APY
  • Poppy Bank - 4.25% APY
  • Popular Direct - 4.05% APY
  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
  • Primis Bank - 4.35% APY
  • Quontic Bank - 3.75% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.12% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • TAB Bank - 4.15% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.30% APY
  • Varo Bank - 2.50-5.00% APY
  • Wells Fargo - 0.05-2.51% APY
  • Western Alliance Bank - 4.25% APY
  • Zynlo Bank - 4.35% APY
FeatureSynchrony BankSelect a bank...
ProductHigh Yield SavingsN/A
APY
3.80% (as of 7/15/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A

Bank-to-Bank Comparisons

Compare Synchrony Bank's APY of 3.80% with other banks
Bank PairBest APYMin Deposit
Synchrony Bank vs Ally Bank3.50%$0
Synchrony Bank vs American Express3.60%$0
Synchrony Bank vs Axos Bank4.66%$0
Synchrony Bank vs Bank of America0.01%$100
Synchrony Bank vs Barclays4.10%$0
Synchrony Bank vs Capital One3.50%$0
Synchrony Bank vs Chase Bank0.01%$0
Synchrony Bank vs Chime3.75%$0
Synchrony Bank vs CIT Bank4.00%$100
Synchrony Bank vs Discover Bank3.50%$0
Synchrony Bank vs Fitness Bank5.00%$100
Synchrony Bank vs Marcus by Goldman Sachs3.65%$0
Synchrony Bank vs Presidential Bank4.50%$5,000
Synchrony Bank vs SoFi Bank3.80%$0
Synchrony Bank vs Varo Bank5.00%$0
Synchrony Bank vs Wells Fargo2.51%$25

Alternatives to Synchrony Bank

Banks with Higher/Similar Savings APY

For a top list of the highest savings rates, see all HYSA top rates

Bask Bank

Interest Savings Account: 4.20% APY

Minimum Deposit: $0

Online Only

Evergreen Bank Group

High-Yield Online Savings: 4.25% APY

Minimum Deposit: $100

Online Only

TIMBR

Premium Savings Account: 4.40% APY

Minimum Deposit: $1,000

Online Only

Carver Bank

High Yield Savings: 4.00% APY

Minimum Deposit: $5,000

Online Only

BrioDirect

High-Yield Savings Account: 4.30% APY

Minimum Deposit: $5,000

Online Only

E*TRADE from Morgan Stanley

Premium Savings Account: 4.00% APY

Minimum Deposit: $0

Online Only

Pibank

Pibank Savings: 4.60% APY

Minimum Deposit: $0

Online Only

Salem Five Direct

eOne Savings: 4.01% APY

Minimum Deposit: $10

Online Only

FVCbank

Advantage Direct Savings: 4.35% APY

Minimum Deposit: $500

Online Only

Forbright Bank

Growth Savings: 4.25% APY

Minimum Deposit: $0

Online Only

Bright Savings: 3.90% APY

Minimum Deposit: $250

Eligible States: Limited (see details)

Sprout Savings: 3.90% APY

Minimum Deposit: $1

Eligible States: Limited (see details)

Primis Bank

Primis Savings Account: 4.35% APY

Minimum Deposit: $1

Online Only

RBMAX

Max Interest Savings: 4.15% APY

Minimum Deposit: $10

Online Only