Synchrony Bank CD Rates: Earn up to 5.50%

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Synchrony Bank CD Rates

Synchrony Standard CD Rates

Synchrony pays high rates on CDs, and it has more terms to choose from than most other banks. Synchrony also stands out because it has a Synchrony CD - Minimum Deposit minimum deposit, and it's not uncommon for institutions to require at least $1,000 to open a CD.

Synchrony No-Penalty CD Rates

The Synchrony No-Penalty CD has has an 11-month term. It pays Synchrony No-Penalty CD - APY APY, making it one of the best no-penalty CDs out there.

Synchrony Bump-Up CD Rates

The Synchrony Bump-Up CD - Product Name Only has a 2-year term and pays Synchrony Bump-Up CD - APY APY. With a bump-up CD, you can request a rate increase once during the term if Synchrony increases its rate on the CD. 

It's worth noting that Synchrony's regular 2-year CD pays a higher rate right now. But it's possible that the bump-up rate could become the more competitive option over a 2-year term.

Synchrony Bank CDs Pros and Cons

Synchrony Bank CD Rates FAQs

What are the current Synchrony Bank CD rates?

Synchrony Bank pays Synchrony CD - APY APY on its regular CDs, Synchrony No-Penalty CD - APY APY on its 11-month no-penalty CD, and Synchrony Bump-Up CD - APY on the 24-month bump-up CD.

What is the highest CD rate at Synchrony?

Synchrony's highest CD rate is on its 9-month term, which pays Synchrony 9 Month CD - APY APY.

What is the Synchrony Bank 12-month CD rate?

Synchrony pays Synchrony 1 Year CD - APY APY on its 12-month CD.

How Synchrony Bank CD Rates Compare

Synchrony CD Rates vs. Ally CD Rates

Synchrony and Ally CDs are very similar. Both banks have Synchrony CD - Minimum Deposit minimum deposits, and both offer three types of CDs.

For regular high-yield CDs, Synchrony pays Synchrony CD - APY APY, and Ally pays Ally High Yield CD - APY APY. The better rate will depend on which term you choose. It's worth noting that Synchrony has more term options than Ally, such as 15-, 16-, and 19-month CDs.

Both banks have an 11-month no-penalty CD; Synchrony pays Synchrony No-Penalty CD - APY APY, and Ally pays Ally No Penalty CD - APY APY.

Synchrony has a bump-up CD — Ally offers something similar, but the bank calls it a Raise Your Rate CD. They work the same way: If the bank increases its rate on that type of CD during your term, you can request that your rate go up, too.

There are a couple of differences, though. Both banks have 2-year terms that let you request an increase once. But Ally also has a 4-year term that allows two increases. Synchrony pays Synchrony Bump-Up CD - APY APY, while Ally pays Ally Raise Your Rate CD - APY APY on both the 2-year and 4-year Raise Your Rate CDs.

Synchrony CD Rates vs. American Express CD Rates

American Express CDs are another good option if you don't have much money to open an account, because like Synchrony, Amex has a American Express® CD - Minimum Deposit minimum deposit.

Amex's offerings are much more limited, though. It only has regular CDs, with no special options like no-penalty or bump-up CDs. It also has fewer terms. Amex pays American Express® CD - APY, so you'll earn higher rates with Synchrony.

Why You Should Trust Us: How We Reviewed Synchrony Bank CDs

To review Synchrony Bank CDs, we used our certificate of deposit methodology. We rate each account on a scale from 0 to 5.

For regular CDs, we looked at ethics, the mobile app, customer support, interest rates, minimum deposits, term variety, and early withdrawal penalties.

We removed the term variety category when calculating our ratings for no-penalty and bump-up CDs, because it's common for banks to only offer one term for these types of CDs. We also removed the early withdrawal penalty category when rating the no-penalty CD.