Carver Bank vs. Synchrony Bank
Comparing Carver Bank and Synchrony Bank for high-yield savings: Carver Bank's High Yield Savings pays 4.00% 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? Carver Bank pays $50 more than Synchrony Bank annually ($400 vs $350).
Choose Carver Bank if getting the best rate matters most, or you want Zelle for quick transfers.
| Metric | Carver BankHigh Yield Savings Feb 21, 2026 | Synchrony BankHigh Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.00% | 3.50% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingStable Rate | 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 Carver Bank vs. Synchrony Bank
Executive Summary
Carver Bank offers a High Yield Savings account with a competitive APY of 4.00%, significantly higher than Synchrony Bank's 3.50% APY. Carver's account requires a minimum deposit of $5,000 but has no maintenance fees if this balance is maintained, making it a strong choice for those looking to earn more on their savings. Additionally, it does not impose a direct deposit requirement, enhancing its accessibility. In contrast, Synchrony Bank's account has no minimum deposit requirement, making it more accessible for smaller savers, but with a lower yield.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.50%)
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
No distinct advantages found vs Carver Bank.
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $350/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $875/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $50 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
Carver Bank vs. Synchrony Bank Savings Calculator
You earn $50 more with Carver Bank 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.
Carver Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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 Carver Bank and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Carver Bank | Synchrony Bank |
|---|---|---|
| APY | 4.00% Verified: 2/21/2026 Stable (90d) | 3.50% Verified: 2/21/2026 ↘︎ 0.15%90d Change |
| Product Name | High Yield Savings | High Yield Savings |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Full native integration in digital banking. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Carver Bank 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 | Carver Bank | Synchrony Bank |
|---|---|---|
| High Yield Savings | High Yield Savings | |
Current APY | 4.00% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.3 | -3.9 |
Days Since Change | 354 | 25 |
12-Month High | 4.25% | 4.00% |
12-Month Low | 4.00% | 3.50% |
Adjustments / Mo | 0.08 | 0.25 |
Volatility Score | 0.010 | 0.040 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Carver Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Carver Bank vs Ally Bank | 3.20% | $0 |
| Carver Bank vs American Express | 3.30% | $0 |
| Carver Bank vs Axos Bank | 4.21% | $0 |
| Carver Bank vs Bank of America | 0.01% | $100 |
| Carver Bank vs Barclays | 3.85% | $0 |
| Carver Bank vs Capital One | 3.30% | $0 |
| Carver Bank vs Chase Bank | 0.01% | $0 |
| Carver Bank vs Chime | 3.00% | $0 |
| Carver Bank vs CIT Bank | 3.75% | $100 |
| Carver Bank vs Citibank | 3.20% | $0 |
| Carver Bank vs Discover Bank | 3.30% | $0 |
| Carver Bank vs EverBank | 3.90% | $0 |
| Carver Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Carver Bank vs Newtek Bank | 4.20% | $0.01 |
| Carver Bank vs Openbank | 4.09% | $500 |
| Carver Bank vs Pibank | 4.60% | $0 |
| Carver Bank vs SoFi Bank | 4.00% | $0 |
| Carver Bank vs Varo Bank | 5.00% | $0 |
| Carver Bank vs Wealthfront | 3.95% | $0 |
| Carver Bank vs Wells Fargo | 0.05% | $25 |