Synchrony Bank vs Discover Bank

Synchrony Bank is a good online bank offering high interest rates. How does it compare to Discover Bank? 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 Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms. There are no service fees.

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

	Synchrony Bank	Discover Bank
		Member FDIC
	Learn More	Visit Site
	SPECIAL OFFER High Yield Savings - 3.80% APY - Learn More Read Synchrony Bank Review	SPECIAL OFFER Discover® Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review
	Benefits and Features
Savings	3.80% 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	3.40% APY
CD	0.25% to 4.10% APY. Terms of 3 months to 5 years. No minimum deposit to open.	2.00% to 4.00% APY depending on terms
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	Over 60,000 no-fee ATMs
Customer Service	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)	24/7
IRA CD	0.25% to 4.00% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market	2.00% APY.
Locations	Online Only	Online Only
	CreditDonkey® Reviews

Savings
Money Market
Customer Service
Checking
Mobile App
Pros & Cons	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours	Pros: High yield No fees 24/7 customer service
Bottom Line	Good online bank offering high interest rates... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Learn More	Visit Site
	High Yield Savings - 3.80% APY Money Market - 2.00% APY Certificate of Deposit	Discover® Online Savings - $200 Cash Bonus Discover® Online Savings - $150 Cash Bonus Online Savings Account - Earn 3.40% APY
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 09/26/2025. Discover Bank: Pricing information and data points from published website as of 09/30/2025.

Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY925 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/12/2026, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.

Get Deal

Expires 3/12/2026

Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY925 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

Get Deal

Expires 3/12/2026

Member FDIC

Online Savings Account - Earn 3.40% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

Which is Better: Synchrony Bank or Discover Bank?

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 Wells Fargo.

In short: Discover Bank's customer service is outstanding.

Articles on Synchrony Bank

Synchrony Bank

Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.

Synchrony Bank vs Wells Fargo

Synchrony High Yield Savings

Synchrony's high-yield savings account has a high APY with no fees. But they also have more to offer than just that. Read on to know all the details.

Synchrony Bank CD Rates

Are CD rates good at Synchrony Bank? Find out if you should open a Synchrony CD.

Articles on Discover Bank

Discover Bank

Discover® Bank offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Account Review

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.