Synchrony Bank Money Market Account Review

Synchrony Bank Money Market Account is offered by Synchrony Bank, a bank founded in 1932 and based in Bridgewater, NJ. Synchrony Bank Money Market Account is offered in 50 states (and Washington, DC).

Are money market accounts from Synchrony Bank federally insured?

Yes, your Synchrony Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27314). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the Synchrony Bank Money Market Account rates?

Synchrony Bank Money Market Account offers an APY of up to 1.20% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $.01. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What are the Synchrony Bank Money Market Account fees?

Synchrony Bank Money Market Account does not charge a monthly maintenance fee.

What is the minimum balance for Synchrony Bank Money Market Account?

No minimum initial deposit. Synchrony Bank does not require a minimum initial deposit to open an account.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Synchrony Bank Money Market Account offer?

This account does not seem to offer any of the features and perks we track.

How to open an account with Synchrony Bank

• Visit the Synchrony Bank website.
• Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
• Check the information is accurate and submit your application.