Synchrony Bank CD Rates and Bank Review
Synchrony Bank, formerly run as GE Capital Retail Finance Corporation, has consistently offered some of the best CD rates for the past couple of years. Synchrony Bank CD rates are usually in the top 5 rates available in our database.
Let's take a brief look at the bank's history. Synchrony Bank and its parent company, Synchrony Financial, were created when GE Capital spun off GE Capital Retail Finance Corporation. Synchrony Financial was spun off as an initial public offering and it raised almost $3 billion. The stock is traded on the New York Stock Exchange under the ticker symbol SYF.
Most of the big banks shun deposits these days but Synchrony Bank is always actively seeking deposits. This is the main reason CD rates at Synchrony Bank are very competitive. One of the ways Synchrony Financial funds its retail credit card business is by raising deposits through the bank division.
Synchrony Financial is a leader in financing major consumer purchases, funding health care procedures, and is the largest provider of private label credit cards in the United States. Private label credit cards are cards other than the major credit cards like Amex, Visa, Master Card, etc. For example, the credit cards department stores and home improvement stores offer are private label.
Synchrony Bank's certificates of deposit, savings accounts, and money market accounts are all insured by the Federal Deposit Insurance Corporation (FDIC). Synchrony bank's FDIC cert number is 27314.
Current CD Rates at Synchrony Financial
Synchrony Bank CD Rates
Synchrony Bank Jumbo CD Rates
You can see how Synchrony Bank's CD rates compare with other bank CD rates.
Banking & Finance InformationPersonal Finance