Betterment vs. Synchrony Bank
Comparing Betterment and Synchrony Bank for high-yield savings: Betterment's Cash Reserve pays 3.90% APY while Synchrony Bank's High Yield Savings pays 3.50% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Betterment pays $40 more than Synchrony Bank annually ($390 vs $350).
Choose Betterment if getting the best rate matters most.
| Metric | BettermentCash Reserve Mar 24, 2026 | Synchrony BankHigh Yield Savings Mar 24, 2026 |
|---|---|---|
| APY | 3.25% - 3.90% | 3.50% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $10 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Betterment vs. Synchrony Bank
Executive Summary
Betterment offers a competitive Cash Reserve savings account with an APY of 3.90%, making it the winner in this comparison. This rate is available only to new customers, while existing customers earn a lower rate of 3.25%. The account requires a minimum deposit of $10 and has no maintenance fees. In contrast, Synchrony Bank provides a High Yield Savings account with an APY of 3.50%, available to all customers with no minimum deposit or balance requirements. Both accounts are online-only and do not require direct deposits.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Betterment?
- ✓Higher potential APY (3.90% vs 3.50%) on all balances
Why Synchrony Bank?
- ✓No checking account or direct deposit required
- ✓Available to New & Existing Customers
— Key Feature Differences —
Better Returns at $10,000
BettermentBetterment's Cash Reserve earns more on smaller deposits (approx. $390 vs $350/yr).
Better Returns at $25,000
BettermentBetterment's Cash Reserve pulls ahead with larger amounts (approx. $975 vs $875/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Betterment's Cash Reserve pays $40 more interest on a $10,000 balance than Synchrony Bank's High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Betterment vs. Synchrony Bank Savings Calculator
You earn $40 more with Betterment than Synchrony Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $349 per year in interest.
Both Betterment and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Betterment | Synchrony Bank |
|---|---|---|
| APY | 3.90% Range: 3.25% - 3.90% Verified: 3/24/2026 ↗︎ 0.65%90d Change | 3.50% Verified: 3/24/2026 ↘︎ 0.15%90d Change |
| Product Name | Cash Reserve | High Yield Savings |
| Minimum Deposit | $10 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | Not Rated |
| Important Notes | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Synchrony Bank |
|---|---|---|
| Cash Reserve | High Yield Savings | |
Current APY | 3.90% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.8 | -4.2 |
Days Since Change | 32 | 56 |
12-Month High | 4.00% | 4.00% |
12-Month Low | 3.25% | 3.50% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.083 | 0.043 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Betterment's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Betterment vs Ally Bank | 3.20% | $0 |
| Betterment vs American Express | 3.20% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.85% | $0 |
| Betterment vs Capital One | 3.20% | $0 |
| Betterment vs Chime | 3.00% | $0 |
| Betterment vs CIT Bank | 3.75% | $100 |
| Betterment vs Discover Bank | 3.30% | $0 |
| Betterment vs EverBank | 3.90% | $0 |
| Betterment vs Marcus by Goldman Sachs | 3.65% | $0 |
| Betterment vs Newtek Bank | 4.20% | $0.01 |
| Betterment vs Openbank | 4.09% | $500 |
| Betterment vs Pibank | 4.60% | $0 |
| Betterment vs SoFi Bank | 4.00% | $0 |
| Betterment vs Varo Bank | 5.00% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |