Synchrony Bank vs Bank of America

Synchrony Bank is a good online bank offering high interest rates. How does it compare to Bank of America? Read our comparison chart below.

Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. There is no minimum deposit. Their CDs require a $2,000 minimum deposit to open. There are no service fees for any products.

While Bank of America is one of the largest banks in the U.S. with approximately 3,700 locations and 15,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

Compare Synchrony Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings and reviews.

	Synchrony Bank	Bank of America
		Member FDIC
	Learn More	Learn More
	SPECIAL OFFER High Yield Savings - 3.55% APY - Learn More Read Synchrony Bank Review	OFFER Bank of America Advantage Banking - Up to $500 Cash Offer Read Bank of America Review
	Benefits and Features
Savings	3.55% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle	Bank of America Advantage Savings Standard Rate: 0.04% APY
CD	0.25% to 4.50% APY. Terms of 3 months to 5 years. No minimum deposit to open.	7-Month CD - 3.75% APY 10-Month CD - 2.95% APY 13-Month CD - 2.00% APY 25-Month CD - 1.75% APY 37-Month CD - 0.11% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking
Money Market	2.00% APY. No monthly service fee and no minimum deposit.
Mobile App	iOS & Android	iOS & Android
ATMs	Any ATMs with Plus or Accel logos	Approximately 15,000+ ATMs
Customer Service	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)	Monday -Friday: 8AM - 9PM ET Saturday: 9AM - 6PM ET Sunday: 8AM - 5PM ET
IRA CD	0.25% to 4.50% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market	2.00% APY.
Locations	Online Only	3,700 financial centers
	CreditDonkey® Reviews

Savings
Money Market
Customer Service
Pros & Cons	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours
Bottom Line	Good online bank offering high interest rates... Read full review	Read full review
	Learn More	Learn More
	High Yield Savings - 3.55% APY Money Market - 2.00% APY Certificate of Deposit
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Synchrony Bank: Pricing information from published website as of 10/13/2026. Bank of America: Pricing information from published website as of 10/15/2026 based on 91107 zip code.

Member FDIC

Bank of America Advantage Banking - Up to $500 Cash Offer

Learn More

Expires 1/31/2027

The up to $500 cash offer must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 01/31/2027.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days of account opening.

Cash Bonus Total Direct Deposits

$100 $2,000

$300 $5,000

$500 $10,000+
After the Deposit Period ends, and once you satisfy all the requirements, we will attempt to deposit the earned bonus directly into your new eligible personal checking account within sixty (60) days. The new eligible personal checking account must be open and in good standing up to and including the date any earned bonus is paid.
Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Additional terms and conditions apply. See offer page for more details.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
Bank of America, N.A. Member FDIC

Cash Bonus	Total Direct Deposits
$100	$2,000
$300	$5,000
$500	$10,000+

Which is Better: Synchrony Bank or Bank of America?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Synchrony Bank or Chase.