Synchrony Bank’s CD Rates for 2023 – An In-Depth Look
For those looking to invest in Certificates of Deposit (CDs) in 2023, Synchrony Bank offers attractive and competitive rates. As a leading online bank, Synchrony is renowned for its excellent customer service and wide range of financial products. In this article, we delve into the latest CD rates offered by Synchrony Bank for 2023.
CD Rate Overview
Synchrony Bank’s CD rates for June 2023 vary depending on the term length selected. Rates remain competitive across the board, ensuring your investment grows steadily over time.
Let’s take a closer look at the various term options available:
Short-Term CDs: For those looking to invest for shorter periods, Synchrony offers CDs with terms between three and twelve months. Here are the available rates for 2023:
– 3-month CD: 0.75% APY
– 6-month CD: 1.00% APY
– 12-month CD: 1.35% APY
Medium-Term CDs: If you’re interested in a longer investment period without locking your funds away for too long, consider medium-term CDs that last between two and four years.
– 24-month CD: 1.65% APY
– 36-month CD: 2.00% APY
– 48-month CD: 2.25% APY
Long-term CDs: For maximizing returns and committing to a longer investment period, Synchrony provides long-term CDs that extend up to five years.
– 60-month CD: 2.50% APY
Reasons to Consider Synchrony Bank CDs:
1. Competitive Rates – As seen from the rates mentioned above, the bank consistently provides some of the most competitive rates in the industry.
2. Flexible Terms – With a wide range of term options, Synchrony enables you to choose the
perfect investment window based on your preferences and financial goals.
3. Online Convenience – As an online bank, Synchrony offers the convenience of digital account management, making it easy to keep track of your investments and access your funds when required.
4. FDIC insured – All CDs offered by Synchrony are FDIC-insured up to $250,000 per depositor, giving you the assurance that your investment is protected.
Synchrony Bank’s CD rates for 2023 remain competitive across various term lengths, catering to a range of needs and financial goals. With its strong reputation, flexible terms, and digital convenience, Synchrony Bank remains an appealing option for investors seeking CDs with attractive returns.