Synchrony Bank Review 2026
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At a glance
Overview
Synchrony Bank is ideal for savers who are comfortable banking entirely online. Synchrony offers solid rates on its savings products, and there are no minimum balance requirements. However, the bank doesn’t offer a checking account.
Highlights:
High APY Highly Rated App No Monthly FeesHighlights:
CDs
Savings
MMA
Customer Experience
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.8/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Synchrony Bank pros and cons
Pros
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Consistently offers solid rates on deposit products.
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Doesn’t require minimum balances for its savings accounts, money market accounts and certificates of deposit (CDs).
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Up to $5 in domestic ATM fee rebates are available per statement cycle.
Cons
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No branches.
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Checking accounts aren’t offered.
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Synchrony Bank’s money market account doesn’t earn as high of a yield as its savings account.
Synchrony Bank banking products
Synchrony High Yield Savings Account
Pros
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Offers a solid yield.
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There’s no minimum opening deposit or monthly service fee.
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Comes with an ATM card and reimburses $5 in out-of network ATM fees in the U.S. per month.
Cons
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Mobile deposits have a daily limit of $2,000.
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Your ATM card has a daily point-of-sale limit of $500.
The Synchrony Bank High Yield Savings comes with a number of features, including a competitive yield, no monthly fee and no minimum balance requirement. The account also offers an ATM card and reimburses up to $5 for out-of-network ATM fees in the U.S. per month.
Compared to most savings accounts, this is a wealth of features. Many don't come with dedicated ATM cards, much less fee reimbursements. If you're looking to easily move money in and occasionally pull cash from your savings, Synchrony could be a good pick.
Rate history for Synchrony Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Synchrony CDs
Pros
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Most Synchrony Bank CDs pay competitive rates.
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There is no minimum deposit or balance required.
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A variety of terms between three months and five years are available.
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Bump-up, no-penalty and IRA CDs are available.
Cons
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Only one term available for no-penalty and bump-up CDs.
Synchrony Bank offers a wide array of CDs, making this bank’s selection of CDs highly competitive. Synchrony's traditional CD has terms ranging from three months to five years, and most of those terms offer competitive APYs. Traditional and Roth IRA CDs are also available, which isn't the case at all banks. Moreover, Synchrony also offers one bump-up and no-penalty CD option.
Rate history for Synchrony Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Synchrony Money Market Account
Pros
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An ATM card is available for customers with money market accounts.
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Check-writing privileges available.
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Above-average APY.
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No minimum opening deposit or balance requirements.
Cons
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All tiers earn the same APY, so customers are not rewarded for putting in more money.
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Some banks offer higher monthly ATM reimbursements with their money market accounts than the maximum of $5 Synchrony reimburses per month.
Synchrony offers a money market account with no minimum balance requirement. The yield is higher than what brick-and-mortar banks typically pay, but lower than what some comparable online banks offer.
You can access your funds using a provided ATM card or checks. Customers can also get up to $5 in domestic ATM surcharges reimbursed during each billing statement when using an ATM at other financial institutions.
Synchrony Bank offers an IRA money market account, which also features no minimum deposit to open. It also allows rollovers from employer-specific and independent IRAs into the account.
Customer experience
Customer support
Support hours. As an online-only bank, Synchrony Bank has no branches. Customers who need assistance can contact a representative via the mobile banking app, online chat service or phone. Customer support is available by phone Monday through Friday from 8 a.m. to 10 p.m. ET and Saturday and Sunday from 8 a.m. to 5 p.m.
Digital experience
Highly rated mobile app. Synchrony’s mobile app is highly rated on the Apple App and Google Play stores. Collectively, over 180,000 users have reviewed the app.
It’s not the easiest to find a fee schedule on the bank's website. Though Synchrony does a good job of showing the rates it offers and has a robust FAQ section, it wasn’t easy to find the disclosures for other fees associated with the accounts.
How Synchrony compares to other banks
Compare different account types offered by Synchrony Bank. Annual percentage yields (APYs) shown were updated between Oct. 25, 2026 and Oct. 31, 2026.
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Selected bank
Synchrony Bank savings account
Bankrate score
4.8
Bankrate Savings rating = 4.8/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Capital One savings account
Bankrate score
4.5
Bankrate Savings rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Oct. 25, 2026 and Oct. 31, 2026.
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| 3.75% | 3.20% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,875 | $1,600 | |
| You’ll earn a solid yield and can access your money at an ATM with the Synchrony Bank High Yield Savings Account. You’ll also have $5 worth of domestic ATM fees reimbursed per month and you won’t be charged a monthly service fee. | Capital One’s 360 Performance Savings Account earns a strong yield (though it’s not the absolute highest available). It doesn’t require a minimum opening deposit and you won’t pay a monthly service fee with this account. Capital One is one of the few online banks that has a branch network if you want the option of in-person banking, though they’re only in select states. | |
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APY offering:
3.75%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Average
4/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
No
0/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
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APY offering:
3.20%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Great
5/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
Yes
5/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
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APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The minimum deposit amount a financial institution requires in order to open a savings account.
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
Bankrate does not currently track additional product details for this bank.
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