The product CD 18-month Account from Synchrony Bank with 4.10% APY and $0 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $29,891. The interest earned would be $9,891 and the tax amount on the interest earned would be approximately $2,967.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.
| Rate: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 45 | 32 |
| 2 | 20,045 | 45 | 32 |
| 3 | 20,091 | 45 | 32 |
| 4 | 20,136 | 46 | 32 |
| 5 | 20,181 | 46 | 32 |
| 6 | 20,227 | 46 | 32 |
| 7 | 20,273 | 46 | 32 |
| 8 | 20,319 | 46 | 32 |
| 9 | 20,364 | 46 | 32 |
| 10 | 20,410 | 46 | 32 |
| TOTAL: | $457 | $320 |
| Rate: 4.10% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 820 | 574 |
| 2 | 20,820 | 854 | 598 |
| 3 | 21,674 | 889 | 622 |
| 4 | 22,562 | 925 | 648 |
| 5 | 23,487 | 963 | 674 |
| 6 | 24,450 | 1,002 | 702 |
| 7 | 25,453 | 1,044 | 730 |
| 8 | 26,496 | 1,086 | 760 |
| 9 | 27,583 | 1,131 | 792 |
| 10 | 28,714 | 1,177 | 824 |
| TOTAL: | $9,891 | $6,924 |
The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.
| Date | APY |
|---|---|
| October 29, 2024 | 4.10% |
| August 27, 2024 | 4.25% |
| February 1, 2024 | 4.50% |
| November 28, 2023 | 5.25% |
| August 20, 2023 | 5.00% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
5.00% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on October 28. |
||||
|
|
4.91% |
$25,000 |
Learn More | |
|
Last change: ↓0.09% on October 17. |
||||
|
|
4.90% |
$10,000 |
Learn More | |
|
Last change: ↓0.15% on September 6. |
||||
|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
||||
|
|
4.70% |
$500 |
Learn More | |
|
Last change: ↓0.50% on October 1. |
||||
Customer Reviews for Synchrony Bank (76)
mcriss
October 23, 2023
Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push notification with Credit Karma. I am more so concerned about the Levin account. I called into customer service and the first representative I spoke with was extremely rude. He told me a letter was sent to me and he read the text of that letter. He eventually hung up on me. The reasons for my closure is completely bogus. I understand I agreed to their terms and conditions upon opening the account, but that doesn't mean I can't dispute their decision. I called back in and spoke with a friendly rep who transferred me to a supervisor. The supervisor told me it is impossible to reinstate my account, although reading some of the other complaints on BBB it seems they did reinstate other accounts for people. She gave me the corporate address to which I mailed a letter. I also filed a
complaint through the chat system on their website. They sent me an email a few days letter with another letter that basically said the same thing as the first one. It was a do not reply email address so I couldn't send a response back. I have made every single payment on time for all 3 accounts that were closed, I had these accounts for years! It's no wonder why these guys have a 1.9 BBB rating. Closing your customers' accounts for bogus reasons is terrible customer service. I will consider my complaint resolved when all 3 of my closed accounts are re-opened. Until then, I will continue mailing letters and filing complaints with customer service.
Is this review helpful? Yes:2 / No: 0
jp76
June 13, 2022 |
3 days for an ach is not market when most banks on this list do it instantly. even frigging rising bank. customer service is beyond dreadful.
Is this review helpful? Yes:6 / No: 2
Irene
April 17, 2022 |
Impossible to deal with customer service. Impossible to change phone number, email, etc. Worst of all - they send letter of renewal AFTER expiration of new terms, and it's impossible to withdraw money. They advertise 24/7hours of service; in fact, they work five short days per week. The only plus - they usually have competitive rates.
Is this review helpful? Yes:8 / No: 0
Peter C2
January 23, 2021 |
In terms of service, you cannot do anything online. On every other bank, you can message someone online and get a quick response. You need to call Synchrony and speak with someone in the Philippines. Nice folks, but I don't want them handling my banking info! To boot, you cannot turn off paper statements. Even the people in the Philippines cannot do that for you. Pick any other bank from this list and you'll be better off!
Is this review helpful? Yes:10 / No: 1
Peter Cyrus
January 23, 2021 |
Synchrony is the only thing left over from the old GE. Here in Stamford, CT, you will see their building on Long Ridge Road where GE used to be. It is like a shit stain, except Synchrony today never would have made GE proud.
Is this review helpful? Yes:9 / No: 0
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