Ivy Bank vs. Synchrony Bank
Comparing Ivy Bank and Synchrony Bank for high-yield savings: Ivy Bank's High-Yield Savings Account pays 3.85% 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? Ivy Bank pays $35 more than Synchrony Bank annually ($385 vs $350).
Choose Ivy Bank if getting the best rate matters most, or choose Synchrony Bank if you're an Android user.
| Metric | Ivy BankHigh-Yield Savings Account Feb 21, 2026 | Synchrony BankHigh Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 0.05% - 3.85% | 3.50% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $2,500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppDaily CompoundingRate Changes Often | 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 Ivy Bank vs. Synchrony Bank
Executive Summary
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 3.85%, making it the winner in this comparison. This account requires a minimum deposit of $2,500 and is available only to residents of California and U.S. Territories (excluding the District of Columbia). In contrast, Synchrony Bank provides a High Yield Savings account with a slightly lower APY of 3.50%, but it has no minimum deposit requirement and is available to all. Both accounts are online-only and have no maintenance fees, appealing to those looking for straightforward savings options.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Ivy Bank?
- ✓Higher potential APY (3.85% vs 3.50%) on all balances
Why Synchrony Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 0.0)
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $385 vs $350/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $963 vs $875/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.5 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $35 more interest on a $10,000 balance than Synchrony Bank's High Yield 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
Ivy Bank vs. Synchrony Bank Savings Calculator
You earn $35 more with Ivy Bank than Synchrony 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.
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $349 per year in interest.
Both Ivy Bank and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Ivy Bank | Synchrony Bank |
|---|---|---|
| APY | 3.85% Range: 0.05% - 3.85% Verified: 2/21/2026 ↘︎ 0.40%90d Change | 3.50% Verified: 2/21/2026 ↘︎ 0.15%90d Change |
| Product Name | High-Yield Savings Account | High Yield Savings |
| Minimum Deposit | $2,500 | $0 |
| Min. Balance for APY | $2,500 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | Not Rated |
| Next Steps | Visit SiteVerify at Ivy 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 | Ivy Bank | Synchrony Bank |
|---|---|---|
| High-Yield Savings Account | High Yield Savings | |
Current APY | 3.85% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -11.1 | -6.4 |
Days Since Change | 3 | 25 |
3-Month High | 4.25% | 3.80% |
3-Month Low | 3.85% | 3.50% |
Adjustments / Mo | 0.90 | 0.60 |
Volatility Score | 0.028 | 0.021 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.20% | $0 |
| Ivy Bank vs American Express | 3.30% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Bank of America | 0.01% | $100 |
| Ivy Bank vs Barclays | 3.85% | $0 |
| Ivy Bank vs Capital One | 3.30% | $0 |
| Ivy Bank vs Chase Bank | 0.01% | $0 |
| Ivy Bank vs Chime | 3.00% | $0 |
| Ivy Bank vs CIT Bank | 3.75% | $100 |
| Ivy Bank vs Citibank | 3.20% | $0 |
| Ivy Bank vs Discover Bank | 3.30% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $0.01 |
| Ivy Bank vs Openbank | 4.09% | $500 |
| Ivy Bank vs Pibank | 4.60% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Varo Bank | 5.00% | $0 |
| Ivy Bank vs Wealthfront | 3.95% | $0 |
| Ivy Bank vs Wells Fargo | 0.05% | $25 |