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
	SPECIAL OFFER Yield Pledge Checking - Learn More Read TIAA Bank Review	SPECIAL OFFER High Yield Savings - 1.05% APY - Learn More Read Synchrony Bank Review
	Benefits and Features
Savings		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	Basic CD: 0.35% - 1.45% APY. Terms of 3 months to 5 years. Minimum deposit of $1,000. Yield Pledge CD: 0.50% - 1.60% Terms of 3 months to 5 years. Minimum deposit of $5,000. No monthly service fee.	0.25% to 1.40% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
Checking	Yield Pledge Checking: 0.20% - 0.35% APY depending on balance. 1-year 0.50% intro APY on balances up to $250,000. Minimum deposit of $5,000. No monthly service fee.
Money Market	0.90% - 1.35% APY depending on balance. 1-year 1.40% intro APY on balances up to $250,000. No monthly service fee. Minimum deposit of $500.	0.60% APY. No monthly service fee and no minimum deposit.
Customer Service		Mon-Fri 8:00 am - 8:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)
ATMs		Any ATMs with Plus or Accel logos
IRA CD		0.25% to 1.40% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
IRA Money Market		0.60% APY.
Locations		Online Only
	CreditDonkey® Reviews
Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: High intro APY No monthly service fees Refund ATM fees Cons: Large minimum deposit Intro rate only for one year	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account $2,000 minimum deposit for CDs Limited customer service hours
Bottom Line	Online bank offering high intro rates if you have a large deposit... Read full review	Good online bank offering high interest rates... Read full review
	Yield Pledge Checking Yield Pledge Money Market Yield Pledge CD	High Yield Savings - 1.05% APY Money Market Certificate of Deposit
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 05/30/2020. Synchrony Bank: Pricing information from published website as of 06/02/2020.

Which is Better: TIAA 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 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
If you have a large opening deposit, TIAA Bank provides a variety of options at high introductory rates. But there are downsides. Read on to see if it's right for you.
• TIAA Bank vs Ally Bank
• TIAA Bank vs Capital One

Articles on Synchrony Bank

Synchrony Bank Review
Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.
• Synchrony Bank vs Discover Bank

Which Do You Think is Best?

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