Synchrony Bank vs Citibank
Synchrony Bank is a good online bank offering high interest rates. How does it compare to Citibank? 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 Citibank has over 700 branches across the United States. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.
Compare Synchrony Bank with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Learn More | Learn More | |
Synchrony Bank | Citibank | |
|---|---|---|
High Yield Savings - 4.75% APY - | Citi Priority - Earn up to $2,000 Cash Bonus | |
Benefits and Features | ||
| Savings | 4.75% 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 |
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| CD | 2.25% to 5.65% APY. Terms of 3 months to 5 years. No minimum deposit to open. |  |
| Checking | Citi Priority | |
| Money Market | 2.25% APY. No monthly service fee and no minimum deposit. | |
| Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | 24/7 Live Customer Service (Telephone) |
| ATMs | Any ATMs with Plus or Accel logos | More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo. |
| IRA CD | 2.25% to 5.50% APY. Terms of 3 months to 5 years. No minimum deposit to open. | |
| IRA Money Market | 2.25% APY. | |
| Locations | More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami) | |
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Money Market | | |
| Customer Service | | |
| CD | | |
| Checking | | |
| Mobile App |  | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Good online bank offering high interest rates... | Large national bank best for high balance customers... |
| Learn More | Learn More | |
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 11/26/2023. Citibank: Pricing information from published website as of 12/05/2023. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi. Citibank: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi. | ||
Citi Priority - Earn up to $2,000 Cash Bonus
- Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
- New to Relationship customers can choose their Relationship Tier.
- Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
- Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
- If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
- Restrictions apply.
Citi Priority - Earn up to $2,000 Cash Bonus
Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day. New To Relationship customers can choose their Relationship Tier. Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds. Maintain a minimum balance for 60 consecutive calendar days from the 21st day. If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes. Bonus will be paid within 30 days after you successfully complete all required activities. Restrictions apply.
| Balance Levels | Maximum Bonus |
|---|---|
| $10,000 - $29,999 | $200 |
| $30,000 - $74,999 | $500 |
| $75,000 - $199,999 | $1,000 |
| $200,000 - $299,999 | $1,500 |
| $300,000 and above | $2,000 |
Citigold® - Earn up to $2,000 Bonus
- Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day.
- New to Relationship customers can choose their Relationship Tier.
- Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
- Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
- If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
- Restrictions apply
Which is Better: Synchrony Bank or Citibank?
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.
In short: Synchrony Bank's savings is excellent.
Articles on Synchrony Bank
Synchrony Bank Review
Synchrony Bank CD Rates
Articles on Citibank
Citibank Review
Open Citi Account
Citi Priority
Citibank High Yield Savings
Citibank Routing Number
Which Do You Think is Best?
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