Synchrony Bank Certificate of Deposit

Quick Verdict

Synchrony Bank offers competitive CD APYs, no minimum deposit, and a no-penalty CD option — a rare feature among high-yield banks. The trade-off is online-only access, so if you need branch support, look elsewhere. As an FDIC-insured online bank with 90-plus years of operating history, Synchrony is a safe, reliable CD provider for savers who want to lock in today's rates.

Synchrony Bank CD Overview

Synchrony Bank is the online deposit arm of Synchrony Financial, a publicly-traded consumer finance company headquartered in Stamford, CT. All Synchrony deposits are FDIC insured up to $250,000 per depositor (FDIC Cert #27314). Synchrony has operated as a bank since 1934 (then under the GE Capital umbrella), giving it significantly more operating history than most fintech-era online banks.

Key Details

Synchrony Bank CD Rates by Term

Rates as of April 2026. APYs fluctuate; verify current rates on Synchrony's site before opening.

No-Penalty CD Option

Synchrony's 11-month no-penalty CD lets you withdraw your full balance any time after the first 7 days without losing accrued interest. The APY is typically 20–30 basis points lower than the standard 12-month CD, which is the cost of that flexibility. Worth it if you think you might need the funds before maturity or expect rates to rise meaningfully.

Early Withdrawal Penalties

Standard CDs at Synchrony charge the following early-withdrawal penalties:

• Terms under 12 months: 90 days of simple interest
• Terms 12–47 months: 180 days of simple interest
• Terms 48+ months: 365 days of simple interest

How to Open a Synchrony Bank CD

1. Visit synchrony.com and select Certificates of Deposit
2. Choose your term and enter the deposit amount ($0 minimum)
3. Complete the application with your SSN, address, and ID
4. Fund via ACH transfer, wire, check, or existing Synchrony account
5. Rate locks the day the CD is funded

Is Synchrony Bank Safe?

Yes. Synchrony Bank is FDIC insured (Cert #27314) up to $250,000 per depositor, per ownership category. Synchrony Financial, its parent, is publicly traded on the NYSE (SYF) and had $117B in assets as of year-end 2025. The BBB rates Synchrony Bank A+. Complaints logged on the CFPB consumer complaint database are typical for a large national bank and center on servicing issues rather than safety concerns.

Who Should Open a Synchrony Bank CD?

Synchrony CDs fit best for savers comfortable with online-only banking who want a no-minimum CD with solid rates and the option of a no-penalty product. If you value bank branches or need personal banker support, choose a full-service competitor like Ally or Capital One 360 — their CD rates are usually within 10–15 basis points of Synchrony anyway.

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