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Synchrony Bank CDs rates

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Synchrony Bank CDs
5.0
★★★★★
Finder score
1-year APY
4.80%
3-year APY
4.15%
5-year APY
4.00%

Our verdict

Earn high rates and enjoy a 15-day best rate guarantee.

Synchrony Bank CDs offer a wide range of terms, competitive rates and an entirely online application. There’s no minimum balance requirement, so you can open and fund your account with however much you want. But its best rate guarantee is only good for 15 days, and you’ll need to be comfortable with customer service delivered remotely.

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How do I open a Synchrony Bank CDs account?

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Synchrony Bank website, click Open Account.
  3. Select the CD term you’re interested in, and enter the amount of your opening deposit. Click Next.
  4. Enter your full name, Social Security number, date of birth, email address and residential address. Click Next.
  5. Enter your phone number, employment information and driver’s license or state ID number. Click Next.

To complete your account application, indicate how you’d like to fund your account. Electronically transfer funds from an externally linked account or mail a check to Synchrony Bank.

After you’ve reviewed your information and Synchrony Bank‘s terms and conditions, you’re given the account number of your new Synchrony Bank CDs.

Eligibility

Before you apply, make sure you meet Synchrony Bank‘s eligibility criteria:

  • US citizen
  • At least 18 years old
  • US residential address
  • Social Security number
  • Valid bank account

Required information

Gather this information before you start the application process:

  • Primary home address
  • Valid email address
  • Valid phone number
  • Social Security number
  • Driver’s license or valid state ID
  • Bank account and routing number of your funding account

Funding options

You have three options to fund your new Synchrony Bank CD:

  • Online transfer. Transfer money for free from an externally linked checking or savings account to fund your new CD.
  • Wire transfer. Initiate an outgoing wire transfer, which may be subject to a fee from your bank.
  • Mail a check. After opening your account online, mail a check with your new CD account number to:
    • Synchrony BankPO Box 105972
      Atlanta, GA 30348-5972

After your CD matures, you have 10 days to add money, withdraw funds, change your CD term or take advantage of a promotional offer.

6 benefits of Synchrony Bank CDs

Along with up to $250,000 in FDIC protection and easy account access, take advantage of:

  1. No minimum balance. Start earning interest on balances as low as $0.01.
  2. Wide term ranges. Lock up your money for three to 60 months.
  3. IRA CD options. It offers terms of 3, 6, 9, 12, 16, 18, 24, 36, 48 and 60 months and rates top out at 4% APY with both traditional and Roth accounts available.
  4. Strong rates. Synchrony Bank offers one of the highest rates compared to the national average and competitors.
  5. Best rate guarantee. Open and fund your account within 15 days to lock in the higher rate from either the day you signed up or the day you funded your CD.
  6. Withdraw your interest. While you can’t access your initial deposit until your CD matures, you can withdraw accrued interest without penalty.

1 potential drawback

One potential drawback of the Synchrony Bank CDs is:

  1. No in-person support. Since Synchrony Bank has no physical branches, customer service is only available by phone and live chat.

Shop all your CD options to find a minimum deposit, term and rate that fit your savings goals.

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Earn competitive rates up to 5.00% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
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Alliant Credit Union CDs
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Alliant Credit Union CDs
5.00%
5.15%
4.00%
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Lock in rates as high as 5.15% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
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Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
N/A
5.05%
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Get 5.05% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
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Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
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4.50%
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Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
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Quontic Bank CDs
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CDs
5.05%
4.50%
4.30%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
4.00%
N/A
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Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
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Synchrony CDs reviews and complaints

Customer reviews of Synchrony Bank’s CDs are generally positive, with customers noting expected returns from promised APYs despite “mediocre” customer service. Synchrony Bank is rated A+ with the Better Business Bureau and has been accredited since 2006. On Trustpilot the bank scores a 1.2 out of 5 based on customer reviews, with complaints lodged over poor customer service and incorrect account management.

How do I cash out a CD?

Synchrony Bank sends a CD maturity notice 30 days before your CD maturity date. This gives you an opportunity to decide what you’d like to do with your CD funds.

On the day after your CD matures, a 10-day grace period begins. Over this time, you can renew your CD term, add funds to your CD, roll your funds into a different term or withdraw your funds.

If you don’t instruct Synchrony Bank what to do with your matured CD, the CD automatically renews for the same term at the current rate Synchrony Bank offers at the time of renewal.

How to contact Synchrony Bank customer service?

Get support in three ways:

  • Live chat. Talk with a customer service rep online.
  • Phone. Call 866-226-5638 weekdays from 7 a.m. to midnight ET and weekends from 8 a.m. to 5 p.m. ET.
  • Snail mail. Mail a letter to:
    Synchrony Bank
    PO Box 105972
    Atlanta, GA 30348-5972

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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