Looking for a savings account to grow your money? Synchrony Bank’s High Yield Savings is now offering 2.25% APY for all balances with interest rate compounded daily. It offers one of the best savings accounts on the internet along with a suite of other competitive online products.
With the High Yield Savings account, there is no monthly fee and no minimum balance. Withdrawing money is simple whether you are doing it online, over the phone or with an optional ATM card. You can make six withdrawals per monthly statement cycle with your High Yield Savings account. Enjoy up to $250,000 of FDIC insurance per depositor, per insured bank, for each ownership category.
Formerly known as GE Capital Retail Bank, Synchrony Bank has close to $38 billion in assets with depository products such as CDs, high yield savings accounts, money market accounts, and IRA CDs. They operate under Optimizer+plus brand to become one of the most prominent online banks with some of the highest interest rates on the market.
Synchrony Bank online banking provides a secure platform for customers to access and manage their accounts such as transaction history, transfer funds, pay bills, and open up new accounts.
 • Open a Synchrony Bank High Yield Savings Account • Earn 2.25% APY on your funds on all balances • Available online nationwide • No minimum balance requirement or monthly service fee • Your deposit accounts are insured up to $250,000 per ownership category |
Table of Contents
Synchrony Bank High Yield Savings
- Direct Link to Offer
- Rate: 2.25% APY
- Account Type: High Yield Savings
- Availability: Nationwide
- Expiration Date: None
- Credit Inquiry: Soft Pull
- Opening Deposit: Any amount
- Credit Card Funding: Unknown
- Monthly Fee: None
- Additional Requirements: None
- Closing Account Fee: No
ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | |
| Pull | ? | ? | ? |
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
Why You Should Apply to Synchrony Bank
Excellent APY Rate: Synchrony Bank’s high-yield savings account offers one of the best online savings account rates with their 2.25% APY for all balances. This high interest rate is compounded daily and beats out even the best-known online savings accounts out there!
No Monthly Fee: No minimum balance or monthly service fee to worry about
ATM Reimbursement: Not a lot, but the bank offers up to $5 in ATM fee reimbursements per statement cycle.
Free Identity Theft Resolution Services: You do most of your banking over the internet with the Optimizer Plus High Yield Savings. At no cost to you, Synchrony Bank offers full protection against identity theft for your peace of mind.
Easy Account Management: Operate mainly as an online bank, you get quick access to your cash online, over the phone, or with an optional ATM card. You can link your Synchrony account with outside accounts so that you can easily transfer money between these accounts.
Bottom Line
Synchrony Bank’s High Yield Savings account is simple to open online in a matter of minutes with just your Social Security number and Driver’s License/Military ID/State ID Number. The High Yield savings is FDIC insured for up to $250,000 and you are automatically enrolled in Optimizer Plus Perks(rewards customers based upon their account balance and how long their accounts have been open). Don’t forget to check our Best Savings Rates on the web! Sign up for Synchrony Bank’s High Yield Savings today!
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings, HSBC Direct Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses. |
||
| PROMOTIONAL LINK | RATE | REVIEW |
| Discover Bank Online Savings | 2.10% APY + $200 Cash | Review |
| UFB Direct High Yield Savings | 2.45% APY | Review |
| HSBC Direct Savings Member FDIC | 2.30% APY | Review |
| CIT Bank Savings Builder | 2.40% APY | Review |
| American Express High Yield Savings | 2.10% APY | Review |
| Synchrony Bank Savings | 2.25% APY | Review |
| Barclays Online Savings | 2.20% APY | Review |
| Chase Sapphire Preferred® Card - Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®. Apply Now---Chase Sapphire Preferred Card Review |  |
| Wells Fargo Propel American Express® Card - Earn 30K bonus points when you spend $3,000 in purchases in the first 3 months - that's a $300 cash redemption value! Earn 3X points on popular categories. Apply Now---Wells Fargo Propel American Express Card Review |  |
| The Business Platinum® Card from American Express - Welcome Offer: Earn up to 75,000 Membership Rewards® points. Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership. Apply Now---American Express Business Platinum Card Review |  |
Jeepy says
June 9, 2019 at 1:22 amI love this saving account. You can’t beat that there are NO FEE”S NO MIN and such a rate. I have set up a direct deposit from my job and don’t even thing about it until I set my statement and see that my money has grown. I had no issues setting up the account. I get a debt card in case I want to make a withdraw. But I don’t. This account is for us little people that are able to put a few dollars away every week. It’s about time a bank helps out us little people grow and not for the rich. If you can sock away even $10 bucks a week, you’ll see your money grow. It’s a guaranty win. This is just my two cents, and with synchrony my next statement it will be three cents ..LOL You have nothing to lose an so much to gain.
DEBORA M ADAMS says
February 26, 2019 at 11:04 amHow long did it take fo them to ok your account after applying on line . They were going to do 2 small deposits to my checking account that I need to verify. That was Satury that I did th account.
Rob says
March 5, 2017 at 7:45 pmThere’s no requires minimum balance for a fee waiver, I believe.
Rob says
January 22, 2017 at 7:09 pmNo monthly fee. I don’t see anything mentioned about maintaining a $30 balance to avoid the fee.
jennifer morgan says
August 3, 2016 at 12:45 pmSeriously, worst experience ever trying to open an account with them. After they returned my check, it took four phone calls to get someone who understood what was going on — and the customer service associate hung up on me when I asked too many questions that she wasn’t sure how to answer (ie. If I want to cash out my CD at the end of the term, what is the period of time prior to expiration I need to notify?). I give up. I will have to take a lower rate of return at a bank with whom I can communicate. Zero for five cannot statistically be merely bad luck.
angela says
July 20, 2015 at 8:45 amI have been with synchrony for several months now and really like the higher than average interest rates. i will be moving from syncrony though because I am committed to having mint.com act as a dashboard for all my accounts and synchrony has removed the ability to aggregate my account on the mint.com site.
Nome Smith says
June 20, 2016 at 10:08 pmThat is not smart, mint is awful. You will find out. I have had so many issues with mint.com, I am leaving them. Why give up money for a failing aggregator?