Synchrony Bank CD Rates 2024: Competitive Plus Specialty CDs

Synchrony Bank has high CD rates and specialty CDs - including no-penalty and bump-up CDs - and no minimum opening requirements.
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Written by Spencer Tierney
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Edited by Sara Clarke
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Synchrony Bank CD
NerdWallet rating 

Synchrony Bank has among the highest rates for certificates of deposit among online banks, and there’s no minimum opening deposit. The bank also offers two types of specialty CDs — no-penalty and bump-up CDs — some with solid yields.

» COMPARE: See the best CD rates

NerdWallet's take: Synchrony has one of the widest ranges of high-yield CDs, particularly between one- and two-year terms, two uncommon specialty CDs and mostly competitive rates among online banks.

Synchrony CDs: 3 types

Synchrony offers three types of CDs, all with a minimum deposit of $0:

  • High-yield CDs: These CDs have a fixed rate and are subject to early withdrawal penalties. Rates for these CDs are the highest among Synchrony’s CDs.

  • No-penalty CDs: These CDs also have a fixed rate and the added benefit of no early withdrawal penalty, meaning you can withdraw the full amount any time after the first six days without cost.

  • Bump-up CDs: These CDs have fixed rates with the possibility of one rate increase if the bank raises the rate on newly issued Bump-Up CDs and you request an increase. The CDs are subject to early withdrawal penalties.

CD term

CD rate

3-month CD

0.25% APY

6-month CD

4.80% APY

9-month CD

4.90% APY

11-month no-penalty CD

0.25% APY

1-year CD

4.80% APY

13-month CD

5.15% APY

14-month CD

5.00% APY

15-month CD

4.50% APY

16-month CD

4.00% APY

18-month CD

4.50% APY

19-month CD

5.00% APY

2-year CD

4.20% APY

2-year bump-up CD

3.60% APY

3-year CD

4.15% APY

4-year CD

4.00% APY

5-year CD

4.00% APY

Frequently asked questions

Yes. As at most banks, funds saved in a CD at Synchrony are insured by the Federal Deposit Insurance Corporation, up to $250,000 per account as the standard cap.

Rates on new CDs fluctuate, but today, Synchrony is offering a rate of 4.80% APY for a 12-month CD, 4.15% for a 3-year CD and 4.00% for a 5-year CD. Read on for more rates and terms.

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More details about Synchrony CDs

Minimum deposit


Range of CD terms

3 months to 5 years.

Early withdrawal penalty

Other fees

None, which is common for CDs.

Grace period

Main types of account ownership

  • Single (or individual) account.

  • Joint account.

  • Custodial account (on behalf of kids).

  • Trust, including payable on death accounts.

What to consider when opening CDs

  • CD rates are fixed. If you open a Synchrony CD today, its annual percentage yield will stay the same until the CD expires. The exception is a bump-up CD.

  • Be aware of two common rules with CDs: You can’t make partial withdrawals of the original CD amount or add more money after the initial funding of a CD.

  • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into a standard Synchrony CD before it expires, there’s an early withdrawal penalty, which means losing some or all of the interest you earned. There is an exception: a Synchrony no-penalty CD. (Compare to other no-penalty CDs.)

  • Interest accrues in a CD during the term, so you can benefit from compound interest. Alternatively, you can request to receive interest during the term to another bank account at Synchrony or another bank.

  • CDs auto-renew unless you opt out. To avoid renewal, withdraw during the grace period.

  • Compounding frequency doesn’t often help you compare rates. Like a savings account, a CD’s rate is primarily quoted as an annual percentage yield (APY), meaning the annual interest rate that factors in compounding. You can compare two interest rates with different compounding periods using APY. Alternatively, if you only know a CD’s interest rate, you need to know the compounding frequency — often daily or monthly — to estimate your return. Learn more about APY vs. interest rate.

Want to compare CD details?

View a curated list of CD reviews to see all rates, minimum requirements and other details at online and traditional banks and one brokerage.

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