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Synchrony Bank Review 2026

Synchrony Bank is an online bank offering high-yield savings accounts, CDs, and money market accounts. Also one of the largest providers of private label credit cards in the US.

Founded

2003

Headquarters

Stamford, CT

Total Assets

$115 billion

Branches

Online Only

BankingDeal Rating

Based on rates, fees, features, and customer satisfaction

4.3

out of 5.0

Rates & Fees

ProductRate / Fee
Savings APY4.10%
12-Month CD APY4.50%
Checking Monthly FeeN/A

Rates shown are for illustration. Verify current rates directly with Synchrony Bank.

Products Offered

Savings Accounts
CDs
Money Market Accounts
Credit Cards

Pros & Cons

Pros

  • +Among the highest CD and savings rates
  • +No minimum balance requirements
  • +No monthly maintenance fees
  • +Wide range of CD terms
  • +Perks program for savers

Cons

  • -No checking accounts
  • -No physical branches
  • -Limited product range
  • -Credit cards are store-specific

Our Verdict

Synchrony Bank is an excellent choice for those who prefer online banking and want competitive rates without monthly fees. Among the highest CD and savings rates, making it a strong contender in the online banking space. With a savings APY of 4.10%, it offers competitive returns on your deposits.

Related Resources

How to Open a Savings Account
What Is a CD?
Compare Savings Accounts by State
Best Cash Back Credit Cards

Frequently Asked Questions

Is Synchrony Bank a good bank?

Synchrony Bank has a rating of 4.3/5 on our scale. Among the highest CD and savings rates. However, no checking accounts. Whether it is right for you depends on your specific banking needs and priorities.

What is the savings account APY at Synchrony Bank?

Synchrony Bank currently offers a savings APY of 4.10%. This is a competitive rate compared to the national average. Rates are subject to change. Verify current rates directly with Synchrony Bank.

Does Synchrony Bank charge monthly fees?

Synchrony Bank offers checking accounts with no monthly maintenance fee.

What products does Synchrony Bank offer?

Synchrony Bank offers Savings Accounts, CDs, Money Market Accounts, Credit Cards. As an online-only bank, all services are available through their website and mobile app.

Where is Synchrony Bank headquartered?

Synchrony Bank is headquartered in Stamford, CT. Founded in 2003, Synchrony Financial has grown to manage $115 billion in total assets. It operates exclusively online with no physical branch locations.