Synchrony Bank Bonus Promotions

Synchrony Bank is best known for private label credit cards but they also have a popular online bank offering that has competitive interest rates in checking, savings, CDs, and money market accounts.

From time to time, they will run some bank bonuses so it’s always good to keep an eye out if you’re looking to open an account.

Here’s what they have available right now:

💰 Get up to $2000 from a Citi Priority Account Today!

Citi Priority is offering up to $2000 when you open a Citi Priority Account by 1/9/2023.

Then, within 20 days of opening your account, deposit New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus is based on the amount you transfer.

This is a limited time offer so don’t wait!

Learn more about this offer

Table of Contents
  1. Synchrony Bank Bonus – No Cash Bonus
    1. High Yield Savings – 1.65% APY 🤷
    2. 16-Month Certificate of Deposit – 1.85% APY 🤷
  2. What Other Offers Are There?

Synchrony Bank Bonus – No Cash Bonus

In the past, Synchrony Bank may have offered a bank bonus but there is currently no active bonus available. When one is made available, we will update this site with the pertinent details.

Until then, the best Synchrony Bank has to offer is “special” rates on their deposit products. (they’re not that special)

High Yield Savings – 1.65% APY 🤷

The high yield savings currently offers a yield of 1.65% APY, which is about average for online savings accounts right now (surprisingly). There are no minimums, no monthly fees, and is a pretty standard offer.

16-Month Certificate of Deposit – 1.85% APY 🤷

If you’re looking for a CD, then they are offering a “Special Offer” on their 16-month term CD with a 1.85% APY and no minimum balance. It’s an OK rate – by comparison, Ally Bank is paying 1.65% APY on an 18 month Cd so it’s a little higher.

Also, right now Series I bonds are paying out close to 10% so it’s really not as appealing if you can hold it for at least a year. Series I bonds are not CDs but they are a comparable product for this comparison.

Personally, I’d rather go with a Series I bond than a 16-month CD. (the only hard restriction is that you can’t withdraw money from a Series I bond in the first 12 months, no exceptions)

What Other Offers Are There?

While Synchrony Bank doesn’t have any offers, there are several out there that can put hundreds of dollars into your pocket. Some require you to set up and receive a direct deposit while others simply require a sizable deposit.

Here are some of the better known offers available right now:

⭐Citi Priority Account – up to $2000

Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2023. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.

Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH622 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

Click here to learn more

Chase Total Checking® – $200

Chase Bank will give you $200 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

Click here to learn more

SoFi Money – up to $300

SoFi Money will give you up to $300 if you open an account and make direct deposits of at least $1,000. The bonus will be based on the total amount of those direct deposits in a 30-day evaluation period.

Click here to learn more

Huntington Bank – up to $300

If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $300 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region.

Click here to learn more

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

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Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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