![]() Remember there are trade-offs: The CD’s APY is fixed for the duration of the term, whereas the APY of the savings account can fluctuate at any time. Synchrony’s CDs may or may not offer a higher APY than a high-yield savings account, depending on the term. Here’s a look at the current terms and rates: Synchrony Bank Certificates of Deposit (CDs) offer terms of three months to five years, with no minimum deposit, and APYs ranging from 2.25% APY on a three-month CD to 4.00% APY on a five-year CD. If you intend to frequently write checks or transfer funds out of the MMA, you might be better off with a checking account. Keep in mind that money market accounts may still be subject to monthly transaction limits. The Synchrony Bank Money Market Account (like the Synchrony Bank High Yield Savings) also offers an optional ATM card to access your cash. ![]() ![]() If you don’t know when you may need to access your savings, the Synchrony Bank Money Market Account gives you the ability to write checks, while earning a higher APY than a typical savings account or checking account. Although this APY is lower than that of the Synchrony Bank high-yield savings account, the money market account offers the ability to write checks. The Synchrony Bank Money Market Account (MMA) offers 2.25% APY with no minimum balance requirement. ![]()
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