Synchrony Bank CD rates

Written by
Marcos Cabello
Edited by
Marc Wojno
Updated October 18, 2024
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Synchrony Bank is an online-only bank that offers a variety of savings products, including certificates of deposit (CDs). Synchrony offers a wide range of CD terms that have no minimum deposit.

Synchrony is best for savers who are comfortable doing all their banking online.

Synchrony Bank earned 4.5 out of 5 stars for its CDs and 4.2 out of 5 stars overall in Bankrate’s review.

Synchrony CD rates

Synchrony offers three types of CDs:

  • Standard CDs
  • One bump-up CD
  • One no-penalty CD

For standard CDs, Synchrony offers 14 terms with no minimum deposit required. There’s a penalty for withdrawing funds early from the principal balance but earned interest can be withdrawn penalty-free at any time.

Here’s a closer look at Synchrony’s CD rates.

Account name Term APY
CD 3 months 0.25%
CD 6 months 4.20%
CD 9 months 4.50%
CD 1 year 4.40%
CD 13 months 4.00%
CD 14 months 4.00%
CD 15 months 4.00%
CD 16 months 4.00%
CD 18 months 4.25%
CD 19 months 3.90%
CD 2 years 3.90%
CD 3 years 4.00%
CD 4 years 4.00%
CD 5 years 4.00%

Synchrony also offers a bump-up CD, which allows account holders to request one rate increase during the term, in case the original rate is lower than the new rate. No minimum deposit is required.

Synchrony Bump-Up CD

Account name Term APY
Bump-Up CD 2 years 3.00%

In addition, Synchrony offers a no-penalty CD that doesn’t charge an early withdrawal penalty after the first six days following account funding. No minimum deposit is required.

No-Penalty CD

Account name Term APY
No-Penalty CD 11 months 0.25%

Note: Annual percentage yields (APYs) shown are as of Oct. 15, 2024 and may vary by region for some products.

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 Bank
APY
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National average APY
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How Synchrony rates compare to top-yielding banks

Synchrony offers a wide variety of terms and competitive rates. You can easily set up a CD ladder with Synchrony and earn a solid return compared with the CD rates offered by traditional banks. Still, be sure to shop around to see which banks offer the best CD rates on the specific terms you’re looking for.

Other savings options at Synchrony

Synchrony also offers savings accounts and money market accounts.

Synchrony’s high-yield savings account offers a competitive rate that doesn’t require locking up your money for a set term. The savings account currently offers a higher rate than the bank’s money market account.

The money market account offers a lower interest rate than most of the bank’s other savings options, including its one-year CD. Unless you value the flexibility that a money market account offers, such as writing checks and making ATM withdrawals, the money market account isn’t the best choice for savers seeking the highest APY.

Compare your options using Bankrate’s list of best savings accounts and money market accounts.

Marcos Cabello Arrow Right Icon Writer, Banking and Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.