Charles Schwab Bank vs. Synchrony Bank
Comparing Charles Schwab Bank and Synchrony Bank for savings: Charles Schwab Bank's Schwab Bank Investor Savings™ pays 0.15% 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? Synchrony Bank pays $335 more than Charles Schwab Bank annually ($350 vs $15).
Choose Charles Schwab Bank if you want Zelle for quick transfers. Choose Synchrony Bank if getting the best rate matters most, or you're an Android user.
| Metric | Charles Schwab BankSchwab Bank Investor Savings™ Feb 6, 2026 | Synchrony BankHigh Yield Savings Feb 6, 2026 |
|---|---|---|
| APY | 0.15% | 3.50% |
Est. Earnings | $5,000+$8 $10,000+$15 $25,000+$38 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessZelle® 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 Charles Schwab Bank vs. Synchrony Bank
Executive Summary
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.50%, significantly higher than Charles Schwab Bank's Schwab Bank Investor Savings™, which provides an APY of 0.15%. Synchrony Bank's account requires no minimum deposit or balance and has no maintenance fees, making it a straightforward option for savers. In contrast, Schwab's offering, while also having no minimum deposit or fees, yields substantially less. Additionally, Synchrony Bank's account is online-only, catering to those who prefer digital banking. Overall, Synchrony Bank is the clear winner based on the APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Charles Schwab Bank?
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
- ✓Higher potential APY (3.50% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 2.9)
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $350 vs $15/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $38/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, Synchrony Bank's High Yield Savings pays $335 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor 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
Charles Schwab Bank vs. Synchrony Bank Savings Calculator
You earn $335 more with Synchrony Bank than Charles Schwab 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.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
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.
| Feature | Charles Schwab Bank | Synchrony Bank |
|---|---|---|
| APY | 0.15% Verified: 2/6/2026 Stable (90d) | 3.50% Verified: 2/6/2026 ↘︎ 0.30%90d Change |
| Product Name | Schwab Bank Investor Savings™ | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | 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 Integrated into Investor Checking; high liquidity. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Charles Schwab 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 | Charles Schwab Bank | Synchrony Bank |
|---|---|---|
| Schwab Bank Investor Savings™ | High Yield Savings | |
Current APY | 0.15% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.6 |
Days Since Change | 365 | 10 |
12-Month High | 0.15% | 4.00% |
12-Month Low | 0.15% | 3.50% |
Adjustments / Mo | 0.00 | 0.25 |
Volatility Score | 0.000 | 0.037 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Charles Schwab Bank's APY of 0.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Charles Schwab Bank vs Ally Bank | 3.30% | $0 |
| Charles Schwab Bank vs American Express | 3.30% | $0 |
| Charles Schwab Bank vs Axos Bank | 4.21% | $0 |
| Charles Schwab Bank vs Bank of America | 0.01% | $100 |
| Charles Schwab Bank vs Barclays | 4.00% | $0 |
| Charles Schwab Bank vs Capital One | 3.30% | $0 |
| Charles Schwab Bank vs Chase Bank | 0.01% | $0 |
| Charles Schwab Bank vs Chime | 3.00% | $0 |
| Charles Schwab Bank vs CIT Bank | 3.75% | $100 |
| Charles Schwab Bank vs Citibank | 3.20% | $0 |
| Charles Schwab Bank vs Discover Bank | 3.30% | $0 |
| Charles Schwab Bank vs EverBank | 3.90% | $0 |
| Charles Schwab Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Charles Schwab Bank vs Newtek Bank | 4.20% | $0.01 |
| Charles Schwab Bank vs Openbank | 4.09% | $500 |
| Charles Schwab Bank vs Pibank | 4.60% | $0 |
| Charles Schwab Bank vs SoFi Bank | 4.00% | $0 |
| Charles Schwab Bank vs Varo Bank | 5.00% | $0 |
| Charles Schwab Bank vs Wealthfront | 3.95% | $0 |
| Charles Schwab Bank vs Wells Fargo | 0.05% | $25 |