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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 - Learn More

Read Synchrony Bank Review

 

Benefits and Features

Savings 1.80% 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
CDBasic CD: 1.25% - 1.95% APY. Terms of 3 months to 5 years. Minimum deposit of $1,000. Yield Pledge CD: 1.50% - 2.20% Terms of 3 months to 5 years. Minimum deposit of $5,000. No monthly service fee.0.75% to 2.25% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
CheckingYield Pledge Checking: 0.25% - 0.65% APY depending on balance. 1-year 1.01% intro APY on balances up to $250,000. Minimum deposit of $5,000. No monthly service fee. 
Money Market1.01% - 1.70% APY depending on balance. 1-year 1.85% intro APY on balances up to $250,000. No monthly service fee. Minimum deposit of $500.1.20% APY. No monthly service fee and no minimum deposit.
Customer Service Mon-Fri 7am - 12am (ET); Sat-Sun 8am - 5pm (ET)
ATMs Any ATMs with Plus or Accel logos
IRA CD 0.75% to 2.25% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open.
IRA Money Market 1.20% APY.
Locations 
Online Only
 

CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • 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 LineOnline bank offering high intro rates if you have a large deposit... Read full reviewGood online bank offering high interest rates... Read full review

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 12/06/2019.

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


Articles on Synchrony Bank


Which Do You Think is Best?

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