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.
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 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.
Discover CD Rates
Maximize returns with Discover® Bank lucrative CD rates - no hidden fees. Read this detailed review.
Discover Bank Locations
Wondering if there is a Discover® Bank near you? Read this article to find out.
Who Owns Discover
You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.
Is Discover a Real Bank
Looking for a safe bank with great rates? This analysis of Discover® Bank reveals all - is it legit? Find out now.
Is Discover Savings Worth It
Is your money secure in a high-yield Discover® savings account? Get your answers now.
Which Do You Think is Best?
Which Bank Account is Right for You?
You Might Also Like
Best Savings Accounts for College Students
Want to think ahead? Start preparing for your future using these student-friendly savings accounts with high APYs and no fees.
Best High Yield Savings Accounts
Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.
Best Online Bank
Online banks are convenient, pay higher interest rates, and have less fees. Find out which accounts are best (#1 surprised us).
Capital One 360 Review: Pros and Cons
Capital One 360 offers free checking and savings accounts with competitive APY rates. Does it live up to its claims? Find out if it's right for you.
CIT Bank Review
CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.
Best CD Rates
Unearth the highest CD rates and maximize your savings. This list showcases the banks with the most lucrative rates.
Best Online Savings Account
Maximize your savings with the best online banks offering high-interest rates, security, and flexibility. Uncover your options.
Next Page: Synchrony Bank
