With only one branch location and no checking account options, Synchrony doesn’t fit the mold of most banks. Still, this bank is worth considering if you like great interest rates on savings products and prefer banking online.
Who knows, a separation from your checking account may be just what your rainy-day fund needs to prosper.
Ratings methodology | Reviewed Nov. 10, 2016
Synchrony's high-yield savings account comes with low fees and one of the highest rates at 1.05%. No minimum balance is required to open an account or qualify for the interest rate. Synchrony Bank doesn't charge fees for using its ATM network of more than 2 million STAR, NYCE and Plus machines, but ATM owners might. For those charges, Synchrony bank offers a monthly $5 rebate.