Synchrony Bank Increases Savings Rates to 1.04% APY 1.05%
Synchrony Bank has increased their savings rate and is now tied for the best savings rate on our table. Synchrony Bank savings account rates are now at 1.04 percent with an APY of 1.05 percent. The bank is now tied for the best rate with GE Capital Bank and My Savings Direct.
The old savings rate at Synchrony Bank was 1.00 percent with an APY of 1.00 percent. It will be interesting to see if the bank also increases their money market rate in the coming days. The current MMA rate is 20 basis points less at 0.85 percent.
Both rates are much higher than the current average rate reported by MonitorBankRates.com and the FDIC. The current average money market/savings (account balances of at least $10,000) rate reported by MBR is at 0.47 percent. The FDIC average savings rate this week is at 0.06 percent and the average money market rate is at 0.08 percent. You can view all average variable deposit rates reported by MBR in the chart to the right:
Listed below are the top savings rates and money market account rates for April 16, 2015:
Money Market Account Rates
Savings Account Rates
Deposit rates change constantly, please check for current rates using our rate tables: Best Savings Rates
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