Synchrony Bank is best known for private label credit cards but they also have a popular online bank offering that has competitive interest rates in checking, savings, CDs, and money market accounts.
From time to time, they will run some bank bonuses so it’s always good to keep an eye out if you’re looking to open an account.
Here’s what they have available right now:
💵 U.S. Bank – up to $400
Earn up to $400 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 26, 2025. Member FDIC.
Get started with an initial deposit of $25 within 30 days. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.
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Synchrony Bank Bonus – No Cash Bonus
In the past, Synchrony Bank may have offered a bank bonus but there is currently no active bonus available. When one is made available, we will update this site with the pertinent details.
Until then, the best Synchrony Bank has to offer is “special” rates on their deposit products. (they’re not that special)
High Yield Savings – 3.80% APY 🤷
The high yield savings currently offers a yield of 3.80% APY, which is about average for online savings accounts right now (surprisingly). There are no minimums, no monthly fees, and is a pretty standard offer.
9-Month Certificate of Deposit – 3.90% APY 🤷
If you’re looking for a CD, Synchrony is offering a 9-month CD for 3.90% APY and no minimum balance. It’s a good rate – by comparison, Ally Bank is paying 3.70% APY on an 18-month CD.
Also, right now Series I bonds are paying out just over 4% so it’s really not as appealing if you can hold it for at least a year. Series I bonds are not CDs but they are a comparable product for this comparison.
Personally, I’d rather go with a Series I bond than a 15-month CD. (the only hard restriction is that you can’t withdraw money from a Series I bond in the first 12 months, no exceptions)
What Other Offers Are There?
While Synchrony Bank doesn’t have any offers, there are several out there that can put hundreds of dollars into your pocket. Some require you to set up and receive a direct deposit while others simply require a sizable deposit.
Here are some of the better known offers available right now:
U.S. Bank – up to $400
Earn up to $400 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through May 6, 2025. Member FDIC.
Get started with an initial deposit of $25 within 30 days. Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
BMO Checking – $400
BMO is offering a $400 bonus* when you open a BMO Checking account and you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 5/5/25 - 9/8/25. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $300 Bonus Offer
Bank of America offers a $300 Bonus Offer cash bonus if you open a new account and Set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
