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Synchrony Bank 2.25% APY Savings Review

Synchrony Bank 2.25% APY Savings Review

Synchrony Bank is offering a nice 2.25% APY with no minimum balance required.

This offer is available nationwide and offer a completely electronic banking experience. You’ll be able to make deposits by direct deposit, mail, or wire transfers. Automated deposits are also possible.

For those looking to start out and are new to banking, Synchrony Bank can’t make it any more easier.

You can sign up for a nice 2.25% APY high-yield savings on all balances, which means it doesn’t matter if you only have $10K or 100K, all amounts will get the 2.25% rate.

Synchrony Savings account details

  • Savings rate: 2.25%
  • Account type: Savings account
  • Availability: Nationwide
  • Direct deposit minimum: None
  • Min balance: None
  • Max balance: None
  • Insured: Yes, FDIC
  • Credit inquiry: Soft pull

How to get the high interest rate

  1. Sign up for an account with Synchrony Bank here.
  2. Deposit any amount and earn the 2.25% APY.

There are no deposit tiers for this savings account. You can deposit any amount and get the high interest rate, which is awesome.


No monthly service fees as associated with this account.


You can W/D up to 6 times per month as allowed by Regulation D.

Overall review

The Synchrony Bank online savings account is a perfect account for beginners since it’s a set and forget bak. Sign up, set up your external accounts, and make deposits as needed.

You’ll get the high 2.25% APY rate with any deposit amount, which is a very decent rate compared to even the highest interest accounts.

What do you think?