Synchrony Bank

Synchrony Bank (formerly known as GE Capital Retail Bank) is a FDIC-insured online bank with about 10,500 employees. It offers a range of products and services to personal and business customers including high yield savings and money market accounts, IRAs, certificates of deposit (CDs), installment loans and private label and co-branded credit cards. Synchrony is the largest provider of private label credit cards in the U.S. It also manages and services the consumer and credit card programs for Lowe’s customers as well as has partnership with Ashley Furniture Home Stores nationwide. Synchrony is the exclusive issuer of PayPal Credit online consumer financing program in the United States. The company was established in 1988 and is headquartered in Draper, Salt Lake County. Synchrony Bank operates as a wholly-owned subsidiary of Synchrony Financial (NYSE: SYF).

Financials (September 30, 2024)
Total Assets: $111.8 billion
Total Deposits: $84.1 billion
Loans: $87.4 billion
Equity capital: $13.6 billion

High Yield Savings Account
APY (annual percentage yield): 4.00%
Minimum deposit: $0
Monthly service charge: $0
FDIC-insured

Money Market Account (MMA)
APY: 2.25%
No monthly fees
No minimum balance
FDIC-insured
APYs are effective as of February 2025.

Synchrony Bank Awards:

NerdWallet
Best Interest Rate with ATM access
Best Money Market Account

GOBankingRates
Best Savings Account
Among The 10 Best Online Banks

MyBankTracker
Best Savings Account
Best CD (5 year)
Best Jumbo CD (5 year)

Head office address:
170 West Election Road, Suite 125
Draper, Utah 84020, USA
Phone number
Customer service: 1 (866) 419 4096
Monday - Friday, 8 am - 8 pm
Saturday, Sunday, 8 am - 5 pm
FDIC Certificate: 27314
Routing number: 021213591
Website: www.synchronybank.com

Mailing address:
P.O. Box 105972
Atlanta, GA 30348-5972
United States