Synchrony Bank, a featured partner of GOBankingRates, offers a digital storefront to help you meet your personal finance goals. A former subsidiary of General Electric Co., Synchrony Bank acquired MetLife Bank's deposit business in January 2013, including $6.4 billion in deposits and its online banking operation.
Synchrony Bank offers a wide range of retail banking and lending services. The lending arm of the online bank offers a range of personal loans to cover the unexpected costs of life, from auto parts loans to loans for electronics, home improvement loans, and healthcare loans. Synchrony Bank OptimizerPlus+ deposit accounts also help customers get further in their savings goals. The money market and savings accounts offer high-yield earning while still keeping funds accessible. Synchrony Bank also offers long-term savings and investment vehicles in its certificates of deposit and IRAs, offering CD terms from 3 months to 60 months.
Synchrony Bank (FDIC certificate 27314) was established in 1988 and operates online. Ms. Margaret M. Keane, President/CEO of Synchrony Bank, leads a team of 8371 employees.
Synchrony Bank, headquartered in Draper, UT, is rated four stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a four star rating indicates, among other things, that this institution has at least 1½ times the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.
Synchrony Bank is a savings association (thrift). With $63 billion in total assets, the OCC classifies the bank’s asset concentration as Credit-Card Specialization.
Synchrony Bank has many personal banking offers to choose from including highly-rated term CDs, high-yield savings, and IRA money market accounts.
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