Today’s Synchrony CD Rates

May 3, 2023

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Annual Percentage Yield (APY)

2.25% to 5.00%

Minimum Deposit Amount

Annual Percentage Yield (APY)

2.25% to 5.00%

Minimum Deposit Amount

Synchrony Bank, Member FDIC

Synchrony CD

Details

Annual Percentage Yield (APY)

2.25% to 5.00%

Minimum Deposit Amount

How Synchrony compares

Editor’s Rating

3.5/5

Editor’s Rating

4/5

Editor’s Rating

4.5/5

Synchrony Bank CD rates

Synchrony pays high rates on CDs. Most banks typically require at least $1,000 for an initial deposit, but Synchrony stands out because it doesn’t require any account minimums to open a CD.

Synchrony vs. Discover Bank

Synchrony has higher CD rates than Discover. However, keep in mind rates may fluctuate so this can change in the future.

Your choice between the two banks could also come down to which term length you want. Synchrony offers a wider variety of shorter-term CDs, including 13-month, 14-month, and 15-month terms. But Synchrony’s longest term is 5 years, while Discover has 7-year and 10-year options.

Synchrony vs. Marcus

Synchrony CDs offer high interest rates than most Marcus CDs right now. However, keep in mind rates may fluctuate so this can change in the future.

You might like Marcus if you want to open a no-penalty CD, which doesn’t charge you for withdrawing funds before your CD matures. The Marcus No-Penalty CD pays competitive rates, too.

See Insider’s list of the best CD rates »

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Laura Grace Tarpley, CEPF

Personal Finance Reviews Editor

Laura Grace Tarpley (she/her) is a personal finance reviews senior editor at Insider. She oversees coverage about mortgage rates, refinance rates, lenders, bank accounts, investing, retirement , and borrowing and savings tips for Personal Finance Insider. She was a writer and editor for Insider’s “The Road to Home” series, which won a Silver award from the National Associate of Real Estate Editors. She is also a Certified Educator in Personal Finance (CEPF).
She has written about personal finance for seven years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@insider.com.
Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »

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Evelyn He

Compliance Associate

Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love.
The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.
Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst.
Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 4-year-old Bichon named Tibber.