Affirm vs. Synchrony Bank
Affirm's Affirm Money Account pays 3.20% APY while Synchrony Bank's High Yield Savings pays 3.30% 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 $10 more than Affirm annually ($330 vs $320).
| Metric | AffirmAffirm Money Account Sep 2, 2026 | Synchrony BankHigh Yield Savings Sep 4, 2026 |
|---|---|---|
| APY | 3.20% | 3.30% |
Earns in a year | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing Affirm vs. Synchrony Bank
Executive Summary
Affirm offers the Affirm Money Account, which provides a competitive 3.20% APY with no minimum balance requirement, maintenance fees, or direct deposit needed. This account is online-only and FDIC-insured through Cross River Bank. In comparison, Synchrony Bank's High Yield Savings account has a slightly higher APY of 3.30%, also with no minimum balance and no direct deposit requirement, but it is available only in Florida and Utah. Both accounts are online-only and provide daily compounding. While Synchrony Bank has a marginally higher APY, Affirm's offering is notable for its simplicity and broader availability.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Affirm?
- No checking account or direct deposit required
Why Synchrony Bank?
No distinct advantages found vs Affirm.
Key Feature Differences
Better for Simplicity
AffirmAffirm's Affirm Money Account offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $10 more interest on a $10,000 balance than Affirm's Affirm Money Account.
*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
Affirm vs. Synchrony Bank Savings Calculator
You earn $10 more with Synchrony Bank than Affirm 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.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $315 a year in interest.
Both Affirm and Synchrony Bank advertise far more than that typical branch-bank rate.
| Feature | Affirm | Synchrony Bank |
|---|---|---|
| APY | 3.20% Observed: 9/2/2026 Stable over 90 days | 3.30% Observed: 9/4/2026 0.10%90-day change |
| Product Name | Affirm Money Account | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | 2 (FL, UT) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Next Steps | Visit SiteVerify at Affirm 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 | Affirm | Synchrony Bank |
|---|---|---|
| Affirm Money Account | High Yield Savings | |
Current APY | 3.20% | 3.30% |
Trend | Stable | Stable |
Speed of change | -0.06 | -0.05 |
Days Since Change | 241 | 78 |
12-Month High | 3.85% | 3.80% |
12-Month Low | 3.20% | 3.30% |
Changes per month | 0.33 | 0.33 |
Steadiness | 0.055 | 0.028 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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High Rates (With Checking Bundle)
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More Comparisons
Compare Affirm's APY of 3.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Affirm vs Ally Bank | 3.00% | $0 |
| Affirm vs American Express | 3.00% | $0 |
| Affirm vs Axos Bank | 4.21% | $0 |
| Affirm vs Barclays | 3.65% | $0 |
| Affirm vs Capital One | 3.50% | $0 |
| Affirm vs Chime | 3.75% | $0 |
| Affirm vs CIT Bank | 3.75% | $100 |
| Affirm vs EverBank | 3.90% | $0 |
| Affirm vs Marcus by Goldman Sachs | 3.40% | $0 |
| Affirm vs Newtek Bank | 4.20% | $100 |
| Affirm vs Openbank | 3.80% | $500 |
| Affirm vs Pibank | 4.10% | $0 |
| Affirm vs SoFi Bank | 4.00% | $0 |
| Affirm vs Varo Bank | 3.75% | $0 |
| Affirm vs Wealthfront | 3.95% | $0 |