Ivy Bank vs. Synchrony Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Ivy Bank vs. Synchrony Bank
Key Metrics at a Glance
| Feature | Ivy Bank | Synchrony Bank |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 3.80% High Yield Savings |
| Minimum to Open | $2,500 | $0 |
| Minimum Balance for Top APY | $2,500 | $0 |
Ivy Bank
Strengths
- Ivy Bank offers a higher APY of 4.25% compared to Synchrony Bank's 3.80%.
- Ivy Bank has an App Store rating of 4.7, slightly higher than Synchrony Bank's 4.8.
- No maintenance fees for Ivy Bank's High-Yield Savings Account.
Potential Drawbacks
- Ivy Bank has no branches, which may limit in-person banking options.
- Ivy Bank's Google Play rating is 3.5, lower than Synchrony Bank's 4.5.
- Ivy Bank is not BBB Accredited, while Synchrony Bank's rating is not available.
Synchrony Bank
Strengths
- Synchrony Bank has no minimum deposit or balance requirements for its High Yield Savings account.
- Synchrony Bank's Google Play rating is 4.5, higher than Ivy Bank's 3.5.
- No maintenance fees for Synchrony Bank's High Yield Savings account.
Potential Drawbacks
- Synchrony Bank offers a lower APY of 3.80% compared to Ivy Bank's 4.25%.
- Synchrony Bank has an App Store rating of 4.8, slightly lower than Ivy Bank's 4.7.
- Synchrony Bank's BBB rating is not available.
→ As of November 12, 2025 Ivy Bank offers an APY of 4.25% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account, with a minimum balance of $0.
→ Ivy Bank yields $45 more than Synchrony Bank on a $10,000 balance after one year. Ivy Bank pays $425, while Synchrony Bank pays $380 - an APY advantage for Ivy Bank.
Calculate Savings Growth for Ivy Bank vs Synchrony Bank
Ivy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewSynchrony Bank - High Yield Savings
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, Ivy Bank's total earnings would be $290.9 higher than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Synchrony Bank's Savings Accounts
| Ivy Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | High Yield Savings |
| APY | 0.05% - 4.25% (as of 11/12/2025) | 3.80% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $2,500 | $0 | |
| Minimum Balance for APY | $2,500 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Eligibility | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | United States | |
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 3.5/5 | 4.5/5 | |
| BBB Rating | A- | Not Rated |
No historical data available.