TIAA Bank vs Synchrony Bank
TIAA Bank is an online bank offering high intro rates if you have a large deposit. How does it compare to Synchrony Bank? Read our comparison chart below.
TIAA Bank promises to deliver a yield in the top 5% of competitive accounts for their Yield Pledge accounts. Checking, savings, and CDs all require a minimum of $5,000. High introductory APY for the first year, but on-going APY drops. All accounts have no monthly service fees.
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 TIAA Bank with Synchrony Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
TIAA Bank | Synchrony Bank | |
|---|---|---|
Yield Pledge Checking - | High Yield Savings - 0.55% APY - | |
Benefits and Features | ||
| Savings | 0.55% 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 | Basic CD: 0.20% - 0.65% APY. Terms of 3 months to 5 years. Minimum deposit of $1,000. Yield Pledge CD: 0.25% - 0.85% Terms of 3 months to 5 years. Minimum deposit of $5,000. No monthly service fee. | 0.15% to 0.80% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. |
| Checking | Yield Pledge Checking: 0.12% APY depending on balance. 1-year 0.40% intro APY on balances up to $250,000. Minimum deposit of $5,000. No monthly service fee. | |
| Money Market | 0.40% APY depending on balance. 1-year 0.45% intro APY on balances up to $250,000. No monthly service fee. Minimum deposit of $500. | 0.40% APY. No monthly service fee and no minimum deposit. |
| Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | |
| ATMs | Any ATMs with Plus or Accel logos | |
| IRA CD | 0.15% to 0.80% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. | |
| IRA Money Market | 0.40% APY. | |
| Locations | ||
CreditDonkey® Reviews | ||
| Savings |   | |
| CD | | |
| Checking | | |
| Money Market | | |
| Customer Service | | |
| Mobile App |  | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Online bank offering high intro rates if you have a large deposit... | Good online bank offering high interest rates... |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. TIAA Bank: Pricing information from published website as of 1/16/2021. Synchrony Bank: Pricing information from published website as of 1/26/2021. | ||
Which is Better: TIAA Bank or Synchrony Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing TIAA Bank or Chase.
In short: TIAA Bank's customer service is impressive. Synchrony Bank's savings is excellent.
Articles on TIAA Bank
TIAA Bank Review
Articles on Synchrony Bank
Synchrony Bank
Which Do You Think is Best?
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