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.

	Synchrony Bank	Discover Bank
	SPECIAL OFFER High Yield Savings - 3.65% APY - Learn More Read Synchrony Bank Review	SPECIAL OFFER Online Savings Account - Earn 3.40% APY - Learn More
	Benefits and Features
Savings	3.65% 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	3.40% APY
CD	0.25% to 4.10% APY. Terms of 3 months to 5 years. No minimum deposit to open.	2.00% to 4.05% APY depending on terms
Money Market	2.00% APY. No monthly service fee and no minimum deposit.
Mobile App	iOS & Android	iOS & Android
ATMs	Any ATMs with Plus or Accel logos	Over 60,000 no-fee ATMs
Customer Service	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)	24/7
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	Online Only	Online Only
	CreditDonkey® Reviews
Savings
Money Market
Customer Service
Pros & Cons	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours
Bottom Line	Good online bank offering high interest rates... Read full review
	High Yield Savings - 3.65% APY Money Market - 2.00% APY Certificate of Deposit	Online Savings Account - Earn 3.40% APY Discover® CD Rates
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 11/22/2025. Discover Bank: Pricing information and data points from published website as of 11/12/2025.

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.