Synchrony Bank Offers Nearly Any Term of CD to Fit Your Needs

Synchrony Bank offers a wide range of CD terms, from 3 months to 10 years. This flexibility is perfect for those who want to lock in a high-yield interest rate for a specific period.

With terms as short as 3 months, you can earn a high interest rate while still having access to your money when you need it. This is ideal for those who want to save for a short-term goal.

Whether you're saving for a down payment on a house, a vacation, or a big purchase, Synchrony Bank's CDs can help you reach your goal.

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Synchrony Bank offers a range of CD options to suit different needs and preferences.

You can choose from 14 terms, including 3 months, 6 months, and 5 years, with no minimum deposit required. Most banks have an opening requirement, such as $500 or $1,000, so no minimum is an uncommon perk.

The bank offers a bump-up CD, which allows account holders to request one rate increase during the term, in case the original rate is lower than the new rate. No minimum deposit is required for this type of CD.

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Here's a breakdown of the CD terms offered by Synchrony Bank:

Note that rates are subject to change before CD account opening or renewal, and a penalty will be imposed for the early withdrawal of the principal.

Synchrony offers a bump-up CD that allows account holders to request one rate increase during the term, in case the original rate is lower than the new rate. No minimum deposit is required.

You can choose from a bump-up CD with a 2-year term and an APY of 3.00%. This is a great option if you're looking for flexibility in your CD.

The bump-up CD is a great choice for those who want to take advantage of higher rates without having to close their existing CD.

Synchrony CDs offer a range of terms from 3 months to 5 years, with more mid-range terms than the average bank.

The minimum deposit required to open a Synchrony CD is none, which is an uncommon perk.

Early withdrawal penalties vary by term, and can include more than interest earned if the withdrawal occurs early enough.

Other fees associated with Synchrony CDs are none, which is common for CDs.

A 10-day grace period is allowed after the CD's maturity date, during which time you can withdraw without getting hit by a penalty (except for no-penalty CDs).

The Composite APY for the Step-Up CD is accurate as of 03/23/2023 and is based on the fixed initial interest rate shown for Months 1-10, the second interest rate for Months 11-20, the third interest rate for Months 21-30.

A withdrawal will reduce earnings, and a penalty will be imposed for the early withdrawal of the principal.

Here are the CD balance ranges for interest rate calculations:

CD accounts are provided by Synchrony Bank, N.A., which is a Member FDIC.

CD rates can vary significantly depending on the term length. Synchrony Bank offers nearly any term of CD, with options ranging from as little as 3 months to as long as 5 years.

The national average for a 5-year CD rate is 1.26%, according to the February 21st, 2023 FDIC Monthly Rate Cap Report. However, Synchrony Bank's 5-year CD rate is 4.30%.

Here are some of the CD rates offered by Synchrony Bank:

It's worth noting that Synchrony Bank's CD rates are subject to change before CD account opening or renewal. Additionally, a penalty will be imposed for the early withdrawal of the principal.

Synchrony Bank offers a wide range of CD terms, making it a great option for those looking to save money. The bank offers 14 terms with no minimum deposit required.

Synchrony's CD rates vary depending on the term length. For example, a 3-month CD has an APY of 0.25%, while a 5-year CD has an APY of 4.00%.

Here's a comparison of Synchrony's CD rates with national averages. In February 2023, the national average for a 5-year CD rate was 1.26%, according to the FDIC Monthly Rate Cap Report. Synchrony's 5-year CD rate is significantly higher at 4.30%.

Synchrony's rates are competitive, especially for longer-term CDs. For instance, a 5-year CD with Synchrony has an APY of 4.30%, which is higher than the national average.

It's worth noting that Synchrony also offers a bump-up CD, which allows account holders to request one rate increase during the term. This feature can help account holders take advantage of higher rates if they become available.

Choosing a CD can be a bit overwhelming, especially with so many terms to choose from. Synchrony Bank offers a wide range of terms, from 3 months to 5 years.

You'll want to consider your financial goals and how long you can keep your money locked in a CD. Synchrony's 3-month CD has an APY of 0.25%, while their 5-year CD has an APY of 4.00%.

Synchrony also offers a bump-up CD, which allows you to request one rate increase during the term if the original rate is lower than the new rate. No minimum deposit is required for this type of CD.

If you're looking to avoid penalties, Synchrony's No Penalty CD allows full withdrawals beginning seven days after deposit without penalty. However, partial withdrawals, including interest withdrawals, are not permitted.

Here's a breakdown of Synchrony's CD terms and APYs:

It's worth noting that Synchrony's rates are competitive with other top-yielding banks, making it a great option for those looking to earn a solid return on their investment.