Synchrony Bank’s CDs feature daily compounding interest that credits back to the account monthly. We’ve reached out to Synchrony Bank for clarification and will post the response here. He noted that he had purchased a CD and funded it on the same day, then 6 days later Synchrony Bank raised their CD rates, however, his CD was not eligible for the new rate.

As per his experience, Synchrony Bank only applies the higher yield if the CD is unfunded when their rates change. 📌 Please Note – APY GUY reader Richard reached out to us to clarify the 15 day rule. Don’t underestimate the value of this free insurance during periods of high rate fluctuation. This means that if you open a CD and fund it sufficiently within 15 calendar days and the posted rate then becomes higher than what you locked into, the new higher rate will be applied to your account. 15 Day Best Rate GuaranteeĪ 15-day Best Rate Guarantee is applied to all Synchrony bank CDs. BankĬD rates surveyed on August 28, 2023. Take a look at the table below to see how Synchrony Bank’s CD rates compare to competitive CD rates offered by other FDIC-insured online banks.

How Do Synchrony Bank’s CD Rates Compare? CD TermĮarnings = Sum of all interest payments through maturity. The table below shows potential earnings based on a $100,000 deposit on a handful of Synchrony Bank’s best CD rates and terms. The amount of money you can make with a CD from Synchrony Bank is going to depend on your deposit size, the CD term you choose and its APY (annual percentage yield). How Much Can You Earn with a Synchrony Bank CD? To put these offers in perspective the current national average for a 12 month CD and a 60 month CD sit at just 1.76% and 1.41% APY, respectively, according to recent FDIC data. The CD rates shown below were surveyed on August 28, 2023.

That said, all 3 tiers currently pay the same APY (annual percentage yield). Synchrony Bank’s CDs have no minimum deposit requirements to open and feature tiered rates by deposit amount.

Synchrony bank cd interest rate