Do you want to know all the features of the Synchrony savings account? Responsible Economy analyzes the interest rate offered by the Synchrony savings account, its requirements, commissions and all its conditions. We also show you a comparison with the best savings accounts. Welcome!
Video Synchrony savings account
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Features
In this section we show you all the features of the Synchrony savings account:
Rates
The interest rate offered by Synchrony is 3.75% APY. This yield is one of the highest we can achieve in the United States in 2023.
Fees
It does not have opening fees nor monthly maintenance. Opening the account is free and you don’t have to pay anything.
Minimum deposit
One of the best features of this savings account is that it is not necessary to make a minimum deposit to open the account or have a minimum balance.
Terms
There is no minimum or maximum time that you should have the money. You can withdraw the money whenever you want without any penalty.
Best banks to open a savings accounts in 2023
We have made a comparison of the Synchrony savings account with the best savings accounts. You can see in the ranking the characteristics of each account:
- 4,05% APY
- Minimum deposit: $100
- No welcome bonus
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- Welcome bonus: $100
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- Welcome bonus: $250
- Member FDIC
- 3,60% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 3,40% APY
- Minimum deposit: $0
- Member FDIC
- No welcome bonus
- 3,40 APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
Best saving accounts in 2023
Here you have a video with the best savings account that you can open in 2023:
Pros and Cons
After seeing the characteristics of the Synchrony savings account and comparing the best savings accounts, we are in a position to see a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| High yields | Higher Interest Savings Accounts |
| No fees | |
| No minimum balance |
Requirements
Here you have a list with all requirements:
- Must be over 18 years old
- Live in the United States
- Have an American Phone
- Open savings account online: Synchrony only has 5 branches in the United States
How to open the savings account?
These are the 5 steps you must follow to open a Synchrony savings account:
- VISIT MYSYNCHRONY.COM AND REGISTER.
- COMPLETE ACCOUNT VALIDATION.
- REVIEW ACCOUNT.
- ONLINE PROFILE – USER NAME AND PASSWORD.
- GET STARTED.
How much money can I earn with this savings account?
The money you can earn with the Synchrony savings account directly depends on the terms and the money you have in mind. The more money and more time, the more money you will earn. Remember that the Synchrony Savings account has a yield of 3.75% APY.
Frequent questions
It’s time to answer all the questions about the synchrony savings account:
Conclusion and opinion
After the review, our opinion is that Synchrony is one of the best savings accounts we can open in the United States because the interest rate it offers is very high, it has no monthly fees and there is no minimum deposit required. On the other hand, being an online bank we cannot make cash deposits.
More information about Synchrony
We have made a table con interest information about Synchrony:
| Information | Description |
|---|---|
| Website | https://www.synchronybank.com/ |
| https://www.facebook.com/SynchronyBank | |
| https://www.instagram.com/synchronybank/ | |
| Phone | 1-866-226-5638. |
Another products
In addition to the savings account, you can also contract other products such as certificates of deposits. Here is a review of the Synchrony CD.
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Updated the day 16 February, 2023 by Alfredo Barandiarán
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