Sallie Mae Bank vs. Synchrony Bank
Comparing Sallie Mae Bank and Synchrony Bank for high-yield savings: Sallie Mae Bank's High-Yield Savings Account pays 3.90% 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? Sallie Mae Bank pays $40 more than Synchrony Bank annually ($390 vs $350).
Choose Sallie Mae Bank if getting the best rate matters most, or choose Synchrony Bank if mobile app quality matters.
| Metric | Sallie Mae BankHigh-Yield Savings Account Feb 6, 2026 | Synchrony BankHigh Yield Savings Feb 6, 2026 |
|---|---|---|
| APY | 3.90% | 3.50% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsDaily CompoundingStable Rate | 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 Sallie Mae Bank vs. Synchrony Bank
Executive Summary
Sallie Mae Bank offers a High-Yield Savings Account with a competitive APY of 3.90%, making it the winner in this comparison. This account features no minimum deposit, no maintenance fees, and does not require direct deposit, providing a straightforward savings option. In contrast, Synchrony Bank's High Yield Savings account offers a lower APY of 3.50%, also with no minimum deposit or fees, but lacks the higher yield of Sallie Mae. Both accounts are online-only, catering to those who prefer digital banking.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Sallie Mae Bank?
- ✓Higher potential APY (3.90% vs 3.50%) on all balances
Why Synchrony Bank?
- ✓Higher rated iOS app (4.8 vs 1.5)
- ✓Higher rated Android app (4.5 vs 1.6)
— Key Feature Differences —
Better Returns at $10,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account earns more on smaller deposits (approx. $390 vs $350/yr).
Better Returns at $25,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $975 vs $875/yr).
Best for Simplicity
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account offers 3.90% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 1.5) and Android app rated 4.5 (vs. 1.6)
Shared Benefits
Over a 1-year period, Sallie Mae Bank's High-Yield Savings Account pays $40 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
Sallie Mae Bank vs. Synchrony Bank Savings Calculator
You earn $40 more with Sallie Mae 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.
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 Sallie Mae Bank and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Sallie Mae Bank | Synchrony Bank |
|---|---|---|
| APY | 3.90% Verified: 2/6/2026 Stable (90d) | 3.50% Verified: 2/6/2026 ↘︎ 0.30%90d Change |
| Product Name | High-Yield Savings Account | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | 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 Sallie Mae 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 | Sallie Mae Bank | Synchrony Bank |
|---|---|---|
| High-Yield Savings Account | High Yield Savings | |
Current APY | 3.90% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -3.6 |
Days Since Change | 365 | 10 |
12-Month High | 3.90% | 4.00% |
12-Month Low | 3.90% | 3.50% |
Adjustments / Mo | 0.00 | 0.25 |
Volatility Score | 0.000 | 0.037 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Sallie Mae Bank's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Sallie Mae Bank vs Ally Bank | 3.30% | $0 |
| Sallie Mae Bank vs American Express | 3.30% | $0 |
| Sallie Mae Bank vs Axos Bank | 4.21% | $0 |
| Sallie Mae Bank vs Bank of America | 0.01% | $100 |
| Sallie Mae Bank vs Barclays | 4.00% | $0 |
| Sallie Mae Bank vs Capital One | 3.30% | $0 |
| Sallie Mae Bank vs Chase Bank | 0.01% | $0 |
| Sallie Mae Bank vs Chime | 3.00% | $0 |
| Sallie Mae Bank vs CIT Bank | 3.75% | $100 |
| Sallie Mae Bank vs Citibank | 3.20% | $0 |
| Sallie Mae Bank vs Discover Bank | 3.30% | $0 |
| Sallie Mae Bank vs EverBank | 3.90% | $0 |
| Sallie Mae Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Sallie Mae Bank vs Newtek Bank | 4.20% | $0.01 |
| Sallie Mae Bank vs Openbank | 4.09% | $500 |
| Sallie Mae Bank vs Pibank | 4.60% | $0 |
| Sallie Mae Bank vs SoFi Bank | 4.00% | $0 |
| Sallie Mae Bank vs Varo Bank | 5.00% | $0 |
| Sallie Mae Bank vs Wealthfront | 3.95% | $0 |
| Sallie Mae Bank vs Wells Fargo | 0.05% | $25 |