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.
![]() | ||
Learn More | Visit Site | |
Synchrony Bank | Discover Bank | |
---|---|---|
High Yield Savings - 3.80% APY - | Online Savings Account - Earn 3.40% APY - | |
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 | |
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 | ||
ATMs | Any ATMs with Plus or Accel logos | |
Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | |
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 | ||
CreditDonkey® Reviews | ||
![]() | ||
Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
| Pros:
|
Bottom Line | Good online bank offering high interest rates... | Solid online bank with high APY rates and good customer service... |
Learn More | Visit Site | |
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. |
Online Savings Account - Earn 3.40% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Certificate of Deposit
- 3.50% APY for 6-month term
- 4.00% APY for 12-month term
- 3.80% APY for 18-month term
- 3.60% APY for 24-month term
- 3.60% APY for 36-month term
- 3.60% APY for 5-year term
Discover® CD Rates
- No minimum opening deposit required
- No fees
- FDIC insured
Term | CD Rates |
---|---|
3 Months | 2.00% APY |
6 Months | 3.50% APY |
9 Months | 3.50% APY |
1 Year | 4.00% APY |
1.5 Years | 3.80% APY |
2 Years | 3.60% APY |
2.5 Years | 3.60% APY |
3 Years | 3.60% APY |
4 Years | 3.60% APY |
5 Years | 3.60% APY |
7 Years | 3.50% APY |
10 Years | 3.50% APY |
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.