Santander Bank vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Santander BankSantander Savings Jan 21, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.65% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $25 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® 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 Santander Bank vs. Synchrony Bank
As of Santander Bank offers an APY of 0.01% for its Santander 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 $364 more than Santander Bank on a $10,000 balance after one year. Santander Bank pays $1, while Synchrony Bank pays $365 - an APY advantage for Synchrony Bank.
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 4.0)
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $365 vs $1/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $3/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 $364 more interest on a $10,000 balance than Santander Bank's Santander Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Synchrony Bank offers a significant advantage with its High Yield Savings account, boasting an impressive APY of 3.65%. This online-only product requires no minimum deposit or balance and has no maintenance fees, making it an attractive choice for savers. In comparison, Santander Bank's Savings account yields a mere 0.01% APY, which is substantially lower. While Santander does not require direct deposit and has a low minimum deposit of $25, the stark difference in APY makes Synchrony Bank the clear winner for those seeking better returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Non-sponsored link to official site
Top Market Contenders
Santander Bank vs. Synchrony Bank Savings Calculator
You earn $364 more with Synchrony Bank than Santander 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.
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
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 | Santander Bank | Synchrony Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Santander Savings | High Yield Savings |
| Minimum Deposit | $25 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $1 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.0 | iOS4.8 Android4.5 |
| Zelle® Support | Available Branch-based retail accounts only. | Not Supported |
| BBB Rating | Not Rated | Not Rated |
| Next Steps | Visit SiteVerify at Santander 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 | Santander Bank | Synchrony Bank |
|---|---|---|
| Santander Savings | High Yield Savings | |
Current APY | 0.01% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.2 | -3.5 |
Days Since Change | 124 | 64 |
12-Month High | 0.03% | 4.10% |
12-Month Low | 0.01% | 3.65% |
Adjustments / Mo | 0.08 | 0.25 |
Volatility Score | 0.450 | 0.035 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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