Synchrony Bank Review | The Ascent by Motley Fool

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CDs typically reward you with higher rates if you keep your money in the bank for a set amount of time. Synchrony Bank CD rates are highly competitive and the bank offers a range of term lengths.

Synchrony Online CDs

Synchrony Online CDs come in a wide array of terms, ranging from three months to five years. Rates vary depending on term length, with longer terms offering higher APYs. Synchrony Bank CD rates are competitive at most CD terms. 

Synchrony Online CDs do require a $2,000 minimum deposit, which is higher than some of the best CDs on the market. A high minimum deposit could be problematic for people interested in building a CD ladder strategy cause the requirement applies to each CD. You may be better off pursuing a high-yield savings account that offers a higher rate with a much lower deposit requirement.

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View more information: https://www.fool.com/the-ascent/banks/synchrony-bank-review/

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