Synchrony CD review

Would you like to read a comprehensive review of the Synchrony Certificate of Deposit? At Responsible Economy, we have conducted an in-depth analysis of its various features, including interest rates, terms, fees, and everything you need to know. Additionally, we provide a comparison of the top certificates of deposit available in the United States in 2023, along with an informative video. We warmly welcome you to explore and learn more!

Explicative video

We have created a concise and easy-to-understand video that summarizes all the key features of the Synchrony Certificate of Deposit. If you find our content valuable, we encourage you to show your support by subscribing to our channel. By doing so, you’ll receive daily videos covering a wide range of topics. Thank you for considering joining our community!

Features

We’ll begin the article by examining the various features of the Synchrony Certificate of Deposit:

Fees

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

Yield

Depending on the chosen term, you have the potential to earn a return of up to 5.40% APY. We provide a table below displaying the different terms and corresponding yields:

Terms	Yields
3 Months	2.25% APY
6 Months	4.90% APY
9 Months	5.00% APY
12 Months	5.10% APY
16 Months	5.40% APY
18 Months	5.15% APY
24 Months	4.40% APY
36 Months	4.30% APY
48 Months	4.00% APY
60 Months	4.00% APY

Minimum deposit

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

Terms

You have the flexibility to open a certificate of deposit with terms ranging from 3 months to 60 months. This wide range of options allows you to choose the term that aligns with your specific financial goals and needs. Whether you prefer a shorter-term investment or a longer commitment, Synchrony provides various term lengths to cater to your preferences.

Comparison with the best CDs en 2023

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

Certificate of deposit calculator

We have created a deposit calculator for you to see the interest generated and the total earnings:

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 4.25% APY.

In summary, the Synchrony No Penalty CD has a term of 11 months and a yield of 4.50% APY.

Bump-up Certificate of deposit

Bump-up is a certificate of deposit with a term of 24 months and an interest rate of 4% APY (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:

Related content

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

Updated the day 2 October, 2023 by Alfredo Barandiarán