Synchrony CD review

Do you want to have all the complete information about the Synchrony certificate of deposit? Alfredo Barandiarán analyzes for Responsible Economy all the features, requirements and opinions of the Synchrony CD. Welcome!

Features

We start the article seeing all the characteristics of the Synchrony CD:

Fees

Synchrony’s certificate of deposit is commission-free. You do not have to pay anything monthly or to open it.

Yield

You can get a return of up to 4.60% depending on the term you choose. We show you a table with the terms and yields:

TermsYields
3 Months2,25% APY
6 Months3,90% APY
9 Months3,95% APY
12 Months4,30% APY
13 Months4,30% APY
14 Months4,60% APY
15 Months4,30% APY
16 Months4,30% APY
18 Months4,50% APY
24 Months4,30% APY
36 Months4,30% APY
48 Months4,30% APY
60 Months4,30% APY
Synchrony deposit terms and yield

Minimum deposit

It is not necessary to have a minimum balance to open the deposit.

Terms

You can open a certificate of deposits with terms from 3 months to 60 months.

Comparison with the best CDs en 2023

Here is a comparison of Synchrony with the best CDs you can open in 2023:

Logo capital One CDs
  • 5% APY
  • Minimum deposit: $0
  • Term: 11 months
  • Member FDIC
Marcus by Goldman Sachs
  • 4,40% APY
  • Minimum deposit: $5000
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 4,65% APY
  • Minimum deposit: $1000
  • Term: 13 months
  • Member FDIC
synchrony-bank-logo
  • 4,60% APY
  • Minimum deposit: $0
  • Term: 14 months
  • Member FDIC
Alliant Logo
  • 4,60% APY
  • Minimum deposit: $1000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 4,55% APY
  • Minimum deposit: $1000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 4,50% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 4,50% APY
  • Minimum deposit: $1000
  • Term: 12 months
  • Member FDIC

Open a deposit without penalty

Synchrony offers a CD without any penalty for taking money early. The great drawback of this deposit is that the yield is lower, at most you can get 3.50% APY.

In summary, the Synchrony No Penalty CD has a term of 11 months and a yield of 3.50% APY.

Bump-up Certificate of deposit

Bump-up is a certificate of deposit with a term of 24 months and an interest rate of 3.70% (lower than the main Synchrony CD) but which can increase the yield over time.

Requirements

The requirements to open a certificate of deposit with Synchrony are as follows:

  • Must be over 18 years old
  • Live in the United States
  • Have an American phone number

How to open a certificate of deposit with Synchrony

With Synchrony you can open a CD both online and in branches.

Frequent questions

Now we answer all the questions you may have:

Finally, we show you related content about Certificates of Deposit:

Updated the day 5 February, 2023 by Alfredo Barandiarán

¿De cuánta utilidad te ha parecido este contenido?

Haz click en una estrella para votar

Promedio de puntuación 0 / 5. Número de votos 0

Se el primero en dejar un comentario!

Latest posts by Alfredo Barandiarán (see all)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.