July 2024 Synchrony Bank CD Interest Rates

### Current Synchrony Bank CD Rates

Synchrony Bank offers four types of Certificates of Deposit (CDs), each with different rates. Here’s a breakdown:

#### Standard CD Rates
Synchrony Bank’s standard CDs come in 14 different term lengths with no minimum deposit required. Here are the current rates:

– 3 months: 0.25% APY
– 6 months: 4.80% APY
– 9 months: 4.90% APY
– 12 months: 4.80% APY
– 13 months: 5.15% APY
– 14 months: 5.00% APY
– 15 months: 4.50% APY
– 16 months: 4.00% APY
– 18 months: 4.50% APY
– 19 months: 5.00% APY
– 24 months: 4.20% APY
– 36 months: 4.15% APY
– 48 months: 4.00% APY
– 60 months: 4.00% APY

You can withdraw your interest earnings at any time, but withdrawing the principal early will incur a penalty ranging from 90 to 365 days of simple interest, depending on the term length.

#### No-Penalty CD Rate
To avoid early withdrawal penalties, consider Synchrony Bank’s no-penalty CD. It has an 11-month term with a 0.25% APY. This allows you to access your funds without losing any interest earned.

#### Bump-Up CD Rate
Synchrony Bank offers a bump-up CD with a 24-month term and a 3.60% APY. You can request a one-time rate increase if interest rates go up during your term, allowing you to benefit from higher rates.

#### IRA CD Rates
For those planning for retirement, Synchrony Bank’s IRA CDs are a good option. Just ensure you won’t need the funds until retirement to avoid penalties. Here are the rates:

### Comparing Synchrony Bank CD Rates
Compared to the national average interest rate of 0.45% for savings accounts, Synchrony Bank offers significantly higher rates. However, it’s always a good idea to shop around. For instance, Marcus by Goldman Sachs offers a 5.15% APY on a 12-month CD with a $500 minimum deposit.

### Other Savings Options
If you prefer more flexibility, a high-yield savings account might be a better fit. Synchrony Bank offers a high-yield savings account with a 4.75% APY, no monthly fees, and no minimum balance requirement.

### The Bottom Line
Finding the best CD rates can help maximize your savings. Synchrony Bank offers competitive options, but it’s wise to explore all available choices to find the best fit for your financial needs.