Discover Bank vs. Synchrony Bank
High-Yield Savings Account Comparison
Last Updated: October 14, 2025
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Summary of Discover Bank vs. Synchrony Bank
Key Metrics at a Glance
| Feature | Discover Bank | Synchrony Bank |
|---|---|---|
| Top Savings APY | 3.40% Online Savings Account | 3.80% High Yield Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for APY | $0 | $0 |
Discover Bank
Strengths
- Discover Bank has an A+ BBB rating and is BBB Accredited.
- Discover Bank's Online Savings Account has no minimum deposit or balance requirements.
- Discover Bank's App Store rating is 4.9.
Potential Drawbacks
- Discover Bank's current APY is 3.40%, down from 3.50% last month.
- Discover Bank has no physical branches.
Synchrony Bank
Strengths
- Synchrony Bank offers a higher APY of 3.80% for its High Yield Savings account.
- Synchrony Bank's Google Play rating is 4.5.
- Synchrony Bank has no maintenance fees.
Potential Drawbacks
- Synchrony Bank has no BBB rating.
- Synchrony Bank has no physical branches.
→ As of October 14, 2025 Discover Bank offers an APY of 3.40% for its Online Savings Account, with a minimum balance of $0, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account, with a minimum balance of $0.
→ Synchrony Bank yields $40 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $340, while Synchrony Bank pays $380 - an APY advantage for Synchrony Bank.
Calculate Savings Growth for Discover Bank vs Synchrony Bank
Discover Bank
Total savings breakdown:
- Interest earned: $2,050.5 (10.23%)
- Total contributions: $13,000 (64.84%)
- Initial deposit: $5,000 (24.94%)
Your total balance
$20,050.50
Total balance: $20,050.5
Earnings: $2,050.5
Bank OverviewSynchrony Bank
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Discover Bank's total earnings would be $255.4 lower than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Discover Bank's vs Synchrony Bank's Savings Accounts
| Discover Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | High Yield Savings |
| APY | 3.40% (as of 10/14/2025) | 3.80% (as of 10/14/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 9 Months)
| Discover Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | High Yield Savings |
| Latest APY | 3.40 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.0 | -3.7 | |
| Rate Changes / Mo | 0.45 | 0.23 | |
| Days Since Last Change | 14 | 133 | |
| High (-9 m) | 3.75 % | 4.10 % | |
| Low (-9 m) | 3.40 % | 3.80 % | |
| Draw-down from High | -9.3 % | -7.3 % | |
| Volatility (CV) | 0.029 | 0.027 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 265 days.
- Low (-9 m)
- Lowest APY in the last 265 days.
- Draw-down from High
- How far today sits below the 9-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.