Synchrony Bank CD Rates (February 2025) (original) (raw)

Last Updated: Nov 8, 2024

Synchrony Bank certificates of deposit (CD) rates are up to 4.50% APY, and the CDs have no minimum deposit requirement.

Christopher Murray Principal Researcher Christopher Murray Contributor

Christopher Murray is a professional personal finance and sustainability writer covering topics from budgeting to unique investing options like socially responsible investing and cryptocurrency. His work has been featured on Bankrate, Money Crashers, FinanceBuzz, Investor Junkie, ConsumerAffairs and Time.

Editor RaShawn Mitchner Editor RaShawn Mitchner Senior Editor

RaShawn Mitchner is a MarketWatch Guides team senior editor covering personal finance topics and insurance. She’s spent over a decade writing and editing articles about how to save money on travel, entertainment, household services and more.

Andrew Latham

Expert Reviewer Andrew Latham Expert Reviewer Andrew Latham Reviewer

Andrew Latham is a Raleigh-based certified financial planner (CFP) and the content director at SuperMoney.com. He has over 10 years of experience specializing in debt, investment and retirement strategies. When he’s not working, Andrew enjoys hiking, traveling, learning languages and working out with his wife and son.

Editor RaShawn Mitchner Editor RaShawn Mitchner Senior Editor

Andrew Latham

Expert Reviewer Andrew Latham Expert Reviewer Andrew Latham Reviewer

Our Research Process

Here’s a breakdown of how we reviewed and rated top banks and credit unions

Learn more about MarketWatch Guides

154 Institutions Monitored

Our team reviewed 154 of the country’s largest and most prominent financial institutions, from big banks like Chase and Bank of America to credit unions like Navy Federal Credit Union and PenFed Credit Union.

688 Products Studied

Total number of checking, saving, CDs, and money-market accounts that inform our review ratings.

719 Rates Tracked

The accounts with an annual percentage yield (APY) several times the national average rate receive the highest scores. Accounts with the lowest APY offering (under 1%) earn the least points.

10 Professionals Consulted

Before we began our research process, we consulted with financial advisors and industry experts to ensure our evaluations covered the banking product aspects that matter most to potential customers.

Using the right savings and investing vehicles is a must if you want to make headway toward your financial goals. With sometimes higher interest rates than traditional savings accounts and little to no fees, or CDs can provide just that for savers.

In many cases, online banks deliver some of the best CD rates right now. Synchrony Bank CDs are among the most competitive today. In this article, we at the MarketWatch Guides team will give you all of the details about these CDs, as well as an overview of Synchrony’s other savings options.

Key Takeaways

Synchrony Bank’s highest CD rate is 4.50% APY for a 9 month term.
We rate Synchrony CDs 4.6 out of 5 stars because they have competitive rates, a number of options and no fees or minimum deposit requirement.
Synchrony has an 11-month no-penalty CD that allows you to withdraw money without paying a fee.
For additional flexibility, the online bank offers a high-yield savings account with a competitive 4.30% APY and no monthly fees or minimum deposit or minimum balance requirements.

The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.

Featured CDs

Min. Term Length

1 Month

3 Months

6 Months

1 Year

2 Years

Max. Term Length

1 Month

3 Months

6 Months

1 Year

2 Years

3 Years

5 Years

5+ Years

FEATURED

Discover

4.4

Term 1 Year

APY 4.00%

Min. Deposit Amount $0

FEATURED

Discover

4.4

Term 9 Months

APY 3.80%

Min. Deposit Amount $0

FEATURED

Discover

4.4

Term 6 Months

APY 3.70%

Min. Deposit Amount $0

Alliant

4.0

Term 1 Year

APY 4.25%

Min. Deposit Amount $1,000

Unfortunately, we didn’t find any offers for you.

Learn more about the highest CD rates.

Synchrony Bank CD Rates

Synchrony Bank CDs are available in terms ranging from three months to five years. There are no minimum deposit requirements for any CD terms, and most have competitive rates.

Synchrony’s CDs fall under three categories:

Standard CDs: These standard fixed-rate CDs provide the highest interest rates and the most term options.
No-penalty CDs: With this CD account, you won’t pay a fee for withdrawing money early.
Bump-up CDs: If Synchrony raises the APY on this product during its two-year term, you’ll have one chance to ask for a rate increase.

The table below lists all Synchrony Bank CD rates, along with how much you’d net at the end of a CD term with a $1,000 deposit. Unless otherwise noted, rates are for standard CDs.

Synchrony Bank CD	APY*	Minimum Deposit	$1,000 Deposit Value at Close of CD
3 months	0.25%	0∣0	0∣1,000.63
6 months	3.70%	0∣0	0∣1,018.67
9 months	4.00%	0∣0	0∣1,030.45
11 months (no-penalty CD)	0.25%	0∣0	0∣1,002.29
1 year	4.00%	0∣0	0∣1,040.81
13 months	4.35%	0∣0	0∣1,048.25
14 months	4.25%	0∣0	0∣1,050.83
15 months	3.50%	0∣0	0∣1,044.72
16 months	4.15%	0∣0	0∣1,056.89
18 months	3.80%	0∣0	0∣1,058.65
19 months	3.50%	0∣0	0∣1,056.98
2 years	3.50%	0∣0	0∣1,072.50
2 years (bump-up CD)	3.25%	0∣0	0∣1,073.30
3 years	4.00%	0∣0	0∣1,127.49
4 years	3.50%	0∣0	0∣1,150.27
5 years	4.15%	0∣0	0∣1,230.58

_* APYs accurate as of February 6, 2025. Rates may vary by location.

Synchrony CD Rates vs. Other Top Banks

Synchrony’s CDs offer some of the highest APYs available with this type of deposit account. This is especially true of the bank’s longer-term CDs. And while many financial institutions require at least $1,000 to open a CD, Synchrony doesn’t have a minimum deposit.

Bank	APY on 1-Year CD*	Minimum Deposit	$2,500 Deposit Value at Close of CD
Ally Bank	3.90%	0∣0	0∣2,599.42
Bank of America	0.03% (flexible CD)	1,000∣1,000	1,000∣2,500.75
Capital One	4.00%	0∣0	0∣2,601.85
Citibank	3.00% (fixed-rate CD)	500∣500	500∣2,576.13
Discover	4.00%	2,500∣2,500	2,500∣2,602.02
Synchrony Bank	4.00%	$0	$2,602.02

_* APYs accurate as of February 6, 2025. Rates may vary by location. Bank of America rates are for Charlotte, N.C., Capital One rates are for McLean, Va. and Citibank CDs are for New York.

>> Related: Learn more about the best one-year CD rates

Synchrony Bank CD: Who It’s Best For

Because Synchrony Bank CDs have no minimum deposit, they’re accessible to savers with nearly any amount to invest. The bank offers CD terms from three months to five years, giving customers a wide range of options to grow their savings at competitive rates.

Customers can withdraw interest at any time, and those who need more flexibility can choose the 11-month no-penalty CD for the option to access their principal early.

Synchrony Bank CDs: Additional Information

Here are the other details to know about Synchrony Bank’s CDs:

Compounding Schedule

Synchrony compounds interest daily and credits it to your balance on the monthly statement date.

Is Synchrony Bank Insured by the Federal Deposit Insurance Corp.?

Synchrony is an FDIC-insured bank, so up to $250,000 of your deposits per ownership category (such as single or joint) are covered.

Synchrony Bank CD Early Withdrawal Penalty

Unless you have a no-penalty CD, you’ll pay an early withdrawal penalty if you take principal out before the CD’s maturity date. The penalty is determined by the principal you withdraw (you can take interest out at any time). You’ll pay the following penalties, which will be based on the rate Synchrony is offering at the time of your withdrawal:

CD terms of one year or less: 90 days’ worth of simple interest
CD terms of over one year but less than four years: 180 days’ worth of simple interest
CD terms of four years or more: 365 days’ worth of simple interest

>> Related: Learn more about FDIC insurance

Other Synchrony Bank Savings Options

Synchrony Bank has a large selection of savings products beyond traditional CDs. Its high-yield savings account, money market account and individual retirement account (IRA) CDs offer high-earning options many savers will appreciate.

Synchrony Bank Account	APY*	Minimum Deposit
High-yield savings	4.00%	$0
Money market	2.25%	$0

_* APYs accurate as of February 6, 2025 .

Synchrony High-Yield Savings

Synchrony’s high-yield savings account has no minimum deposit, no minimum balance requirement and no monthly fees. You can easily manage your savings account from Synchrony’s mobile app and access your money with an ATM card. Keep in mind that you can only make up to six bank withdrawals or transfers from your high-yield savings account per statement cycle.

Synchrony Bank Money Market Account

Like its HYSA, Synchrony’s money market account (MMA) doesn’t have a minimum deposit or a minimum balance. Plus, there’s no monthly fee. Along with writing checks, you’ll be able to make withdrawals through ATMs, online or by phone.

Synchrony Bank IRA CDs and IRA Money Market Account

IRA savings options help you boost your retirement contributions. Synchrony offers IRA CDs with the same term lengths and APYs as its standard CDs, and you may qualify for tax benefits depending on the type of IRA CD you opt for. Additionally, Synchrony offers IRA MMAs, which also have an option for a tax-advantaged account.

The Bottom Line: Is Synchrony Bank Right for You?

With no minimum deposit and high APYs, Synchrony Bank CDs could be strong contenders for many savers. Besides fixed-rate, high-yield CDs, Synchrony has a penalty-free CD that allows you to withdraw as needed with no fees. Additionally, the bank’s bump-up CDs let you request a higher rate if Synchrony raises the APY during your CD term.

>> Related: Read our Synchrony Bank review

FAQ: Synchrony Bank CD Rates

Synchrony Bank is paying 0.25% to 4.35% APY on CDs, depending on the CD term (from three months to five years). The no-penalty CD pays 0.25% APY for an 11-month term, and the 1-year CD pays 4.00%.

While the best CD rates frequently change, the highest-paying CDs are mostly from credit unions and online banks. The highest rate available today is 5.15%.

The highest CD rate available today is 5.15% on a term of 12 months from Cumberland Valley National Bank & Trust.

*APY accurate as of February 6, 2025 . Rates may vary by location.

**Data accurate at time of publication

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.

Parts of this story were auto-populated using data from Curinos, a research firm that collects data from more than 3,600 banks and credit unions. For more details on how we compile daily rate data, check out our methodology here.