Everbank vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of EverBank vs. Synchrony Bank
As of September 5, 2025 EverBank offers an APY of 4.30% for its Performance 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.
EverBank yields $50 more than Synchrony Bank on a $10,000 balance after one year. EverBank pays $430, while Synchrony Bank pays $380 - an APY advantage for EverBank.
EverBank
Strengths
- EverBank offers a higher APY of 4.30% compared to Synchrony Bank's 3.80%.
- EverBank has 11 physical branches in Florida and California.
- EverBank has an A+ BBB rating, indicating strong trustworthiness.
Potential Drawbacks
- EverBank has a low App Store rating of 2.3.
- EverBank has a low Google Play rating of 2.6.
- EverBank is not BBB accredited.
Synchrony Bank
Strengths
- Synchrony Bank has a high App Store rating of 4.8.
- Synchrony Bank has a solid Google Play rating of 4.5.
- Synchrony Bank has no minimum deposit or balance requirements.
Potential Drawbacks
- Synchrony Bank's APY is lower at 3.80% compared to EverBank.
- Synchrony Bank has no physical branches.
- Synchrony Bank is not rated by the BBB.
Summary: EverBank provides a higher APY of 4.30% and has physical branches, but suffers from low app ratings and lack of BBB accreditation. In contrast, Synchrony Bank offers strong app ratings but has a lower APY of 3.80% and no branches, and it is not BBB rated. Customers may prefer EverBank for higher returns, while those valuing app performance might lean towards Synchrony Bank.
Compare EverBank's vs Synchrony Bank's Savings Accounts
| EverBank | Synchrony Bank | ||
|---|---|---|---|
| Product | Performance Savings | vs | High Yield Savings |
| APY | 4.30% (as of 9/5/2025) | 3.80% (as of 9/5/2025) | |
| 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 | 2.3/5 | 4.8/5 | |
| Google Play Rating | 2.6/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 7 Months)
| EverBank | Synchrony Bank | ||
|---|---|---|---|
| Product | Performance Savings | vs | High Yield Savings |
| Latest APY | 4.30 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -4.3 | |
| Rate Changes / Mo | 0.00 | 0.27 | |
| Days Since Last Change | 226 | 94 | |
| High (-7 m) | 4.30 % | 4.10 % | |
| Low (-7 m) | 4.30 % | 3.80 % | |
| Draw-down from High | 0.0 % | -7.3 % | |
| Volatility (CV) | 0.000 | 0.027 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 226 days.
- Low (-7 m)
- Lowest APY in the last 226 days.
- Draw-down from High
- How far today sits below the 7-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.
Calculate Savings Growth for EverBank vs Synchrony Bank
All calculations are based on APY.
EverBank
APY: 4.30%
Total savings breakdown:
- Interest earned: $2,629.4 (12.75%)
- Total contributions: $13,000 (63.02%)
- Initial deposit: $5,000 (24.24%)
Your total balance
$20,629.40
Effective APY: 4.30% (based on your deposit and contributions)
Total balance: $20,629.4
Earnings: $2,629.4
Bank OverviewSynchrony Bank
APY: 3.80%
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
Effective APY: 3.80% (based on your deposit and contributions)
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, EverBank's total earnings would be $323.5 higher than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare EverBank's APY of 4.30% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| EverBank vs Ally Bank | 3.50% | $0 |
| EverBank vs American Express | 3.50% | $0 |
| EverBank vs Axos Bank | 4.46% | $0 |
| EverBank vs Bank of America | 0.01% | $100 |
| EverBank vs Barclays | 4.10% | $0 |
| EverBank vs BrioDirect | 4.30% | $5,000 |
| EverBank vs Capital One | 3.50% | $0 |
| EverBank vs Chase Bank | 0.01% | $0 |
| EverBank vs Chime | 3.75% | $0 |
| EverBank vs CIT Bank | 4.00% | $100 |
| EverBank vs Discover Bank | 3.50% | $0 |
| EverBank vs Elevault | 4.60% | $0 |
| EverBank vs Fitness Bank | 4.75% | $100 |
| EverBank vs FVCbank | 4.35% | $500 |
| EverBank vs GO2bank | 4.50% | $0 |
| EverBank vs Marcus by Goldman Sachs | 3.65% | $0 |
| EverBank vs Neighbors Bank | 4.60% | $0 |
| EverBank vs Newtek Bank | 4.35% | $0 |
| EverBank vs Peak Bank | 4.35% | $100 |
| EverBank vs Pibank | 4.60% | $0 |
| EverBank vs Presidential Bank | 4.50% | $5,000 |
| EverBank vs Santander Bank | 0.03% | $25 |
| EverBank vs SoFi Bank | 3.80% | $0 |
| EverBank vs TIMBR | 4.40% | $1,000 |
| EverBank vs UFB Direct | 4.21% | $5000 |
| EverBank vs Varo Bank | 5.00% | $0 |
| EverBank vs Wells Fargo | 2.51% | $25 |
| EverBank vs Zynlo Bank | 4.35% | $10 |