Synchrony Bank CD Rates Lowered After Fed Rate Cut

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Synchrony Bank CD Rates Lowered After Fed Rate CutSynchrony Bank CD rates were lowered two days after the Federal Reserve cut the fed funds rate by 25 basis points. 1 year CD rates at Synchrony Bank were lowered by 30 basis points from 2.80 percent to 2.50 percent. 1 year jumbo CD rates from Synchrony were also lowered by the same amount to 2.50 percent. Synchrony isn't the only bank that lowered their CD rates after the rate cut last week.

2 year jumbo and regular CD rates from Synchrony were lowered by 40 basis points to 2.50 percent from 2.90 percent. 18 month CD rates were lowered by 25 basis points from 2.75 percent to 2.50 percent. 3 year rates were lowered from 2.90 percent to 2.60 percent, 4 year rates were lowered from 3.00 percent to 2.65 percent, and 5 year rates were lowered from 3.05 percent to 2.80 percent.


 
Author: Brian McKay
August 6th, 2019