Discover Bank vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.65% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Discover Bank vs. Synchrony Bank
As of Discover Bank offers an APY of 3.30% for its Online Savings Account, with a minimum balance of $0, compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Synchrony Bank pays $35 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $330, while Synchrony Bank pays $365 - an APY advantage for Synchrony Bank.
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 4.5)
- ✓Fast transfers via Zelle® (up to $600 a day)
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $365 vs $330/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $825/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $35 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Synchrony Bank offers a High Yield Savings account with an attractive APY of 3.65%, making it the clear winner in this comparison. This account is online-only and features no minimum deposit, maintenance fees, or direct deposit requirements, providing a straightforward savings option. In contrast, Discover Bank's Online Savings Account has a lower APY of 3.30% and is currently not open to new customers. Both accounts allow for daily compounding and have no minimum balance requirements, but Synchrony Bank's higher yield makes it a more favorable choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. Synchrony Bank Savings Calculator
You earn $35 more with Synchrony Bank than Discover 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.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Discover Bank | Synchrony Bank |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Online Savings Account | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.8 Android4.5 |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Important Notes | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Next Steps | Visit SiteVerify at Discover 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 | Discover Bank | Synchrony Bank |
|---|---|---|
| Online Savings Account | High Yield Savings | |
Current APY | 3.30% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -3.5 |
Days Since Change | 13 | 64 |
12-Month High | 3.75% | 4.10% |
12-Month Low | 3.30% | 3.65% |
Adjustments / Mo | 0.41 | 0.25 |
Volatility Score | 0.037 | 0.036 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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