How Synchrony CD rates compare with other banks More than one year but less than four years The fee will be applied to the amount of money you withdraw, meaning how much you pay will depend on how much you take out and what your current interest rate is. Like other banks, Synchrony charges a fee for withdrawing money from your CD before it reaches maturity - the final day of the CD’s term. Penalties for early withdrawal at Synchrony How much you earn with Synchrony CDs CD term Here’s how much you’ll earn from each term if you deposit $1,000. That places Synchrony in the upper tier of the competition when it comes to CD rates. Interest compounds daily, offering you a little more money than CDs that compound monthly or yearly. Right now, Synchrony’s longest term gives you a 4.00% APY for a five-year term. Synchrony offers competitive APYs on its CDs, ranging from 2.25% APY for a three-month CD to 5.15% APY for a 14-month CD. How much can you earn with a Synchrony CD? But as rates remain stagnant, a bump-up CD isn’t the best option in today’s rate environment. In a rising rate environment, you may benefit from Synchrony raising the APY on its bump-up CD, giving you the option to increase your interest rate after depositing your cash. That’s the same as the 4.30% APY of Synchrony’s traditional 24-month CD. This bump-up CD has a 3.70% APY and a 24-month term. Synchrony’s “bump-up” CD lets you raise your APY one time if Synchrony adjusts its interest rate offering for this product. Synchrony’s high-yield savings account is also slightly higher at 4.15%. However, the CD APY is slightly lower than Synchrony’s six- and nine-month CDs right now, which are 4.25% and 4.30%, respectively. The CD has an 11-month term and doesn’t require a minimum balance. Synchrony’s no-penalty CD is a good fit if you’re worried about needing your money during your CD term. Synchrony also offers two CDs that function a bit differently from traditional CDs: A no-penalty CD and a one-time bump-up CD.
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