Synchrony Bank CD Rates: How They Compare

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

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Synchrony Bank CD rates 2022

  • 1-year: 4.50% APY

  • 3-year: 4.30% APY

  • 5-year: 4.30% APY

  • 24-month bump-up: 3.70% APY

  • 11-month no-penalty: 3.90% APY

Synchrony Bank CD
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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 — a no-penalty and bump-up CD — with solid yields.

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 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 or more rate increases 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

2.25% APY

6-month CD

4.25% APY

9-month CD

4.30% APY

11-month no-penalty CD

3.90% APY

1-year CD

4.50% APY

13-month CD

4.50% APY

14-month CD

5.00% APY

15-month CD

4.50% APY

16-month CD

4.50% APY

18-month CD

4.90% APY

19-month CD

4.90% APY

2-year CD

4.30% APY

2-year bump-up CD

3.70% APY

3-year CD

4.30% APY

4-year CD

4.30% APY

5-year CD

4.30% APY

APYs shown are as of March 22, 2023.

» Want other options? See the best CD rates

Synchrony no-penalty CD rate

Synchrony’s no-penalty CD balances flexibility and a solid return. It’s on our list of the best no-penalty CD rates.

CD term

CD rate

11-month no-penalty CD

3.90% APY

Synchrony bump-up CD rate

Synchrony’s bump-up CD has a key advantage during a rising-rate environment. You may have the chance to get a rate increase during the CD term, which is a rare perk that reduces the risk of missing out on higher rates in the near future.

CD term

CD rate

24-month bump-up CD

3.70% APY

Compare CD Rates: Synchrony vs. Marcus vs. Ally

If you’re considering high-yield, no-penalty and bump-up CDs, there are three online banks that have them all: Ally Bank, Marcus by Goldman Sachs and Synchrony Bank. See how they differ based on three CDs each:

High-yield CDs

Marcus’ 1-year CD

4.50% APY (annual percentage yield) as of 02/14/2023.

Synchrony’s 1-year CD

4.50% APY.

Ally’s 1-year CD

4.50% APY.

No-penalty CDs

Marcus’ 13-month CD

3.85% APY.

Synchrony's 11-month CD

3.90% APY.

Ally’s 11-month CD

4.75% APY.

Bump-up CDs

Marcus’ 20-month Rate Bump CD

4.35% APY.

Synchrony’s 2-year Bump-Up CD

3.70% APY.

Ally’s 2-year Raise Your Rate CD

3.75% APY.

More details about Synchrony CDs

Minimum deposit


Monthly fee

None, which is common for CDs.

Range of CD terms

3 months to 5 years.

Early withdrawal penalty

  • 90 days' (3 months) worth of interest for CD terms of 1 year or less.

  • 180 days' (6 months) worth of interest for CD terms from 13 months to 3 years.

  • 1 year's worth of interest for CD terms of 4 years or longer.

*The penalty can include more than interest earned if the withdrawal occurs early enough.

Compounding period

Daily. (This detail helps you estimate what you can earn using a CD calculator or other compound interest calculator.)

Grace period

10 days after the CD's maturity date. Synchrony CDs automatically renew, so this 10-day window is the only time to withdraw without getting hit by a penalty (except for no-penalty CDs).

Synchrony IRA CD available?

Yes; compare with other banks' options on our list of the best IRA CD rates.

What to consider when opening CDs

  • Interest 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.) This fixed rate enables you to lock in a CD if rates are relatively high, though there is a risk of losing out if rates continue to rise. It’s hard to know when CD rates will go up, but CD rates are trending upward thanks to multiple Fed rate increases this year. Here’s a quick look at historical CD rates, including this year’s. Or, if you want a sample of rates each month, see current CD rates.

  • 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 with other no-penalty CDs).

More about Synchrony Bank

Synchrony is an online-only bank with a focus on two main product categories: credit cards and savings accounts. Its three types of savings accounts include a regular savings account, a money market account and CDs. All have competitive rates, and none of them have monthly fees or minimum balance requirements. Synchrony doesn’t have a checking account, but it provides free ATM access through an optional ATM card linked to the savings account or MMA. The bank has highly rated mobile apps, and phone support is available every day for savings customers.

Online banks like Synchrony tend to have top savings rates and low or no minimums. Compare the best online banks or see the best high-interest bank accounts.

Synchrony has stellar CD rates and three types of CDs

Synchrony Bank CD
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Synchrony Bank has a strong lineup of CDs thanks to competitive yields, no minimums and several types of CDs. If you want to compare more options, check out our list of best CD rates this month.

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