TD Bank vs Synchrony Bank
TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Synchrony Bank? Read our comparison chart below.
TD Bank has 1,300 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.
While 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.
Compare TD Bank with Synchrony Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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TD Bank | Synchrony Bank | |
|---|---|---|
TD Beyond Checking - | High Yield Savings - 1.05% APY - | |
Benefits and Features | ||
| Savings | 0.05% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older. | 1.05% 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 |
| CD | 0.10% - 0.15% APY (up to 0.50% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account). | 0.25% to 1.20% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. |
| Money Market | 0.01% - 0.10% APY (up to 0.15% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old. | 0.60% APY. No monthly service fee and no minimum deposit. |
| Customer Service | 24/7 Live Customer Service (Telephone) | Mon-Fri 8:00 am - 8:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) |
| ATMs | Approximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida | Any ATMs with Plus or Accel logos |
| IRA CD | 0.10% - 0.15% APY (up to 0.50% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). | 0.25% to 1.20% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. |
| IRA Money Market | 0.60% APY. | |
| Locations | 1300 locations along the east coast. | |
CreditDonkey® Reviews | ||
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| Mobile App | | |
| Pros & Cons | Pros:
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| Bottom Line | East Coast bank with relatively low minimum balance requirements... | Good online bank offering high interest rates... |
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| What Others View | ||
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code. Synchrony Bank: Pricing information from published website as of 07/02/2020. | ||
Which is Better: TD Bank or Synchrony Bank?
Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing TD Bank or Chase.
In short: TD Bank's customer service is outstanding. Synchrony Bank's savings and money market are notable. In particular, the savings is excellent.
Articles on TD Bank
TD Bank Review
Open a TD Account
TD Routing Number
Articles on Synchrony Bank
Synchrony Bank Review
Which Do You Think is Best?
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