Best Synchrony Bank Promotions and Offers: April 2020

Choose a Synchrony Bank promotion that fits your savings goals.

Synchrony is the largest provider of store credit cards for brands such as Sam’s Club, Gap and Rakuten. The card issuer also offers banking services under the name of Synchrony Bank. Specializing in savings products, Synchrony Bank offers great promotions on savings accounts, money markets and certificates of deposit.

GOBankingRates survey found that more than 65% of respondents have never looked at other banks’ account promotions and are unaware of whether they are earning enough interest on their savings or even missing out on cash sign-up bonuses. These Synchrony Bank promotions showcase the savings products the bank offers so customers can compare and choose the accounts that best meet their financial goals.

Take a closer look at the best Synchrony Bank promotions to compare and see how your current bank stacks up:

    Synchrony Bank Promotions at a Glance

    Review these online savings account offers to find the best Synchrony Bank promotion for your goals.

    Best Synchrony Bank Promotions: April 2020 
    Account Annual Percentage Yield Minimum Balance Requirements
    High Yield Savings 
    • 2.20%
    No minimum balance
    Money Market Accounts 
    • 0.90%
    No minimum balance
    Certificates of Deposit
    • 3 months: 0.25%
    • 6 months: 0.50%
    • 9 months: 0.75%
    • 12-24 months: 1.50%
    • 36 months: 1.55%
    • 48 months: 1.60%
    • 60 months: 1.65%
    $2,000 minimum opening deposit

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    Current Synchrony Bank Promotions

    Here are all the details about the current Synchrony Bank promotions and what you need to know before you sign up:

    High Yield Savings: 2.20% APY

    With the High Yield Savings account from Synchrony Bank, you earn 2.20% APY on your balance. Not only does this account have no minimum requirements, but it also comes with access to the Synchrony Bank app so you can manage your money whenever and wherever you want. Deposit and withdraw money through electronic or wire transfers or in person at an ATM.

    • Minimum deposit to qualify: None
    • Expiration date: N/A
    • How to get it: Complete an application online and deposit money in your account.
    • When you’ll get it: Accounts start earning interest as soon as they are funded.
    • Terms and conditions: Federal regulations limit the number of withdrawals account holders can make from their savings account to six per month. ATM transactions don’t count toward your limit, so you can make unlimited ATM withdrawals.
    • Monthly fee: None. Synchrony will refund up to $5 in ATM withdrawal fees per month.
    • Promotion page: Synchrony Bank High Yield Savings Account

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    Money Market Account: 0.90% APY

    A money market account is like a hybrid between a checking and savings account. Synchrony Bank’s Money Market account lets you earn interest on your money while giving you the flexibility to write checks and withdraw money like you would with a checking account. There is no minimum balance requirement to earn the 0.90% APY. Here are the details on Synchrony’s MMA:

    • Minimum deposit to qualify: None
    • Expiration date: N/A
    • How to get it: Open an account online and fund your account.
    • When you’ll get it: Accounts start earning interest as soon as they are funded.
    • Terms and conditions: Although you can order and write checks from the MMA, federal regulations limit in-person and check withdrawals to six per month.
    • Monthly fee: None. Synchrony will refund up to $5 in ATM withdrawal fees per month.
    • Promotion page: Synchrony Bank Money Market Account

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    Certificate of Deposit: Up To 1.65% APY for a 60-Month Term

    If you don’t need immediate access to your cash, you can earn up to 1.65% APY in a Synchrony Bank CD. The bank offers CDs in term lengths from three months to 60 months with varying interest rates. The longer the term, the more interest you’ll earn. A three-month CD earns 0.25% APY. CDs locked in for 12-24 months pay 1.50% APY, and CDs with a 60-month term earn 1.65% APY.

    • Minimum deposit to qualify: $2,000
    • Expiration date: N/A
    • How to get it: Open an account online and make the initial deposit.
    • When you’ll get it: Accounts start earning interest as soon as they are funded.
    • Terms and conditions: Synchrony will charge you penalties if you withdraw your initial deposit before the term is up. You can withdraw interest paid during your CD’s current term anytime without penalty.
    • Monthly fee: None
    • Promotion page: Synchrony Bank Certificate of Deposit Account

    Learn More: Investing in Certificates of Deposit — The Ultimate Guide

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    Opening a Synchrony Bank Account

    You can open an account online by entering your personal details and Social Security number. Once your application is approved, you’ll receive an approval email with instructions on how to set up your online banking login.

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    Which Synchrony Bank Promotion Is Best for You?

    Which of Synchrony Bank’s three savings offers you choose should depend on your financial goals. A high-yield savings or money market account is the best choice if you need to access the funds short term or would like to make regular deposits into your account. If you can sock money away for an extended period of time, a Synchrony Bank CD with a term of 12 months or longer will earn more interest.

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    This content is not provided by Synchrony Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Synchrony Bank.