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Synchrony Bank CDs review

Earn up to 2.6% on 60-month terms, and enjoy a 15-day best rate guarantee.’s rating: 3.8 / 5.0


Synchrony Bank CDs offer a wide range of terms, competitive rates and a fully online application. But like most CDs, you’ll face penalties for early withdrawal.

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1-year APY


3-year APY


5-year APY


Star rate3.8
3-month APY0.5%
6-month APY0.75%
9-month APY1%
11-month APY0.9%
1-year APY1.5%
13-month APY1.5%
15-month APY1.5%
18-month APY1.75%
2-year APY1.9%
3-year APY2.3%
4-year APY2.3%
5-year APY2.6%
Early withdrawal penalty90 days interest for terms of 1 to 12 months
180 days interest for terms of 13 to 48 months
365 days interest for terms of 49 + months
Minimum deposit to open$0
Interest compoundingDaily

Review by

Shannon Terrell is an editor for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.

Expert review

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.

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.


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

Benefits of Synchrony Bank CDs

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

  • No minimum balance. Start earning interest on balances as low as $0.01.
  • Wide term ranges. Lock up your money for three to 60 months.
  • IRA CD options. It offers terms of 3, 6, 9, 12, 16, 18, 24, 36, 48 and 60 months and rates top out at 2.6% APY with both traditional and Roth accounts available.
  • Up to 2.6% APY. Rates range from 0.5% APY for three months to 2.6% APY on a 60-month term.
  • 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.
  • Withdraw your interest. While you can’t access your initial deposit until your CD matures, you can withdraw accrued interest without penalty.

What to watch out for

One potential drawback of the Synchrony Bank CDs is:

  • 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.

Compare with other CDs

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 4-year APY 5-year APY
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
Ponce Bank CD
Open a 5-month, 13-month or 48-month CD with some of the highest interest rates available today

Compare up to 4 providers

How do I cash in 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 can I get in touch with 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

What other savings products does Synchrony Bank offer?

Synchrony Bank offers ways to save beyond CDs:

  • High-yield savings account. Take advantage of a 1.1% APY with no minimum balance, ATM access and mobile banking with the Synchrony high-yield savings account.
  • Money market account. Earn 0.55% APY on any amount you deposit and enjoy ATM access and checkwriting privileges.
  • IRA money market account. Get 0.55% APY on any amount you deposit with the ability to add funds at any time alongside tax-deductible perks.

Frequently asked questions

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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