Santander Bank vs. Synchrony Bank
Comparing Santander Bank and Synchrony Bank for savings: Santander Bank's Santander Savings pays 0.01% 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? Synchrony Bank pays $349 more than Santander Bank annually ($350 vs $1).
Choose Santander Bank if you value in-person banking, or you want Zelle for quick transfers. Choose Synchrony Bank if getting the best rate matters most.
| Metric | Santander BankSantander Savings Jan 29, 2026 | Synchrony BankHigh Yield Savings Feb 17, 2026 |
|---|---|---|
| APY | 0.01% | 3.50% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $25 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDaily 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 Santander Bank vs. Synchrony Bank
Executive Summary
Synchrony Bank offers a significant advantage with its High Yield Savings account, boasting an impressive APY of 3.50%. This online-only account requires no minimum deposit or maintenance fees, making it accessible and straightforward for savers. In contrast, Santander Bank's Savings account yields only 0.01% APY, with a minimum deposit of $25 and a $1 monthly maintenance fee. While both accounts are FDIC insured and do not require direct deposit, Synchrony Bank clearly stands out for those seeking higher returns on their savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
- ✓Higher potential APY (3.50% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 4.1)
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $350 vs $1/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $3/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $349 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Santander Bank vs. Synchrony Bank Savings Calculator
You earn $349 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+$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.
| Feature | Santander Bank | Synchrony Bank |
|---|---|---|
| APY | 0.01% Verified: 1/29/2026 Stable (90d) | 3.50% Verified: 2/17/2026 ↘︎ 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 |
| Compound Frequency | Daily | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Primarily in the Northeast and Miami, Florida | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Branch-based retail accounts only. | Not Supported |
| BBB Rating | A- | 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% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.2 | -3.8 |
Days Since Change | 132 | 2 |
12-Month High | 0.03% | 4.10% |
12-Month Low | 0.01% | 3.50% |
Adjustments / Mo | 0.08 | 0.33 |
Volatility Score | 0.462 | 0.041 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Santander Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Santander Bank vs Ally Bank | 3.30% | $0 |
| Santander Bank vs American Express | 3.30% | $0 |
| Santander Bank vs Axos Bank | 4.21% | $0 |
| Santander Bank vs Bank of America | 0.01% | $100 |
| Santander Bank vs Barclays | 4.00% | $0 |
| Santander Bank vs Capital One | 3.30% | $0 |
| Santander Bank vs Chase Bank | 0.01% | $0 |
| Santander Bank vs Chime | 3.00% | $0 |
| Santander Bank vs CIT Bank | 3.75% | $100 |
| Santander Bank vs Citibank | 3.20% | $0 |
| Santander Bank vs Discover Bank | 3.30% | $0 |
| Santander Bank vs EverBank | 3.90% | $0 |
| Santander Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Santander Bank vs Newtek Bank | 4.20% | $0.01 |
| Santander Bank vs Openbank | 4.09% | $500 |
| Santander Bank vs Pibank | 4.60% | $0 |
| Santander Bank vs SoFi Bank | 4.00% | $0 |
| Santander Bank vs Varo Bank | 5.00% | $0 |
| Santander Bank vs Wealthfront | 3.95% | $0 |
| Santander Bank vs Wells Fargo | 0.05% | $25 |