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expired Posted by Hubbs1 • Jan 5, 2024
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expired Posted by Hubbs1 • Jan 5, 2024

Synchrony Bank 5.5% APY CD 15 Months

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Looks like one of the better rates for over a year. Signup and funding was very easy.

https://www.synchronybank.com/banking/cd/
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Looks like one of the better rates for over a year. Signup and funding was very easy.

https://www.synchronybank.com/banking/cd/

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15 Comments

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Pro
Jan 5, 2024
472 Posts
Joined Dec 2023
Jan 5, 2024
FrugalForever
Pro
Jan 5, 2024
472 Posts
Wealthfrnt high yielding checking accounts have 5.5% apy with referral and no lock-in. Just curious how a CD is better. Any red flags with wealthfrnt?
Jan 5, 2024
3,015 Posts
Joined May 2006
Jan 5, 2024
CreepyLilBeast
Jan 5, 2024
3,015 Posts
Quote from FrugalForever :
Wealthfrnt high yielding checking accounts have 5.5% apy with referral and no lock-in. Just curious how a CD is better. Any red flags with wealthfrnt?
With wealthfront, you can only stack that boost upto 6 months with referral
Also, there is some expectation that rates may go down in which case wealthfront will lower rates too

On that note - Marcus gives a boost of 1% on referral and lets you stack upto more than an year. Ends up being same rate as wealthfront with longer duration courtesy referrals
Jan 6, 2024
1,987 Posts
Joined Jan 2008
Jan 6, 2024
rarmortn
Jan 6, 2024
1,987 Posts
Is it required to open a savings account along-side this 15-mo CD?
Original Poster
Jan 8, 2024
359 Posts
Joined Jul 2019
Jan 8, 2024
Hubbs1
Original Poster
Jan 8, 2024
359 Posts
Quote from rarmortn :
Is it required to open a savings account along-side this 15-mo CD?
No I don't have a savings account with them, just the CD.
1
Jan 8, 2024
1,987 Posts
Joined Jan 2008
Jan 8, 2024
rarmortn
Jan 8, 2024
1,987 Posts
Quote from Hubbs1 :
No I don't have a savings account with them, just the CD.
Thank you! I'll be doing the same. May open the savings account later when they have a special account opening bonus.
Jan 8, 2024
533 Posts
Joined Nov 2010
Jan 8, 2024
mrsean
Jan 8, 2024
533 Posts
I would pass. Read the disclosure.
1
Original Poster
Jan 8, 2024
359 Posts
Joined Jul 2019
Jan 8, 2024
Hubbs1
Original Poster
Jan 8, 2024
359 Posts
Quote from mrsean :
I would pass. Read the disclosure.
The CD terms seemed standard, what part is causing you to pass?

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Jan 8, 2024
533 Posts
Joined Nov 2010
Jan 8, 2024
mrsean
Jan 8, 2024
533 Posts
Quote from Hubbs1 :
The CD terms seemed standard, what part is causing you to pass?
The rate is not guaranteed. I don't know if that's standard legalese for CDs or not but they would make me think twice about putting my money into this one.
1
Jan 9, 2024
1,987 Posts
Joined Jan 2008
Jan 9, 2024
rarmortn
Jan 9, 2024
1,987 Posts
Quote from mrsean :
The rate is not guaranteed. I don't know if that's standard legalese for CDs or not but they would make me think twice about putting my money into this one.
I think you got confused. Once you confirm your CD rate while opening, the rate will stay good for the CD's term.
Jan 9, 2024
115 Posts
Joined Dec 2005
Jan 9, 2024
jelopy
Jan 9, 2024
115 Posts
I locked 5.65% for 14 months 3 weeks ago with Synchrony. I've had my savings with them for many years, no complaints.
Jan 9, 2024
41 Posts
Joined Dec 2007
Jan 9, 2024
renderman21
Jan 9, 2024
41 Posts
Does this company support opening the CD in the name of a trust? Or at least name the trust as a beneficiary?
Jan 10, 2024
332 Posts
Joined Apr 2022
Jan 10, 2024
ShrewdSnow237
Jan 10, 2024
332 Posts
Quote from FrugalForever :
Wealthfrnt high yielding checking accounts have 5.5% apy with referral and no lock-in. Just curious how a CD is better. Any red flags with wealthfrnt?
Wealthfront has been really easy for me. I'm getting 5% without any referral apy. Got screwed on other traditional bank promo interest rates on stupid fine print stuff - never with Wealthfront
Pro
Jan 10, 2024
472 Posts
Joined Dec 2023
Jan 10, 2024
FrugalForever
Pro
Jan 10, 2024
472 Posts
Quote from ShrewdSnow237 :
Wealthfront has been really easy for me. I'm getting 5% without any referral apy. Got screwed on other traditional bank promo interest rates on stupid fine print stuff - never with Wealthfront
Same has been my experience. Thanks for chiming in
Jan 13, 2024
1,376 Posts
Joined Jan 2008
Jan 13, 2024
Scrooge
Jan 13, 2024
1,376 Posts
Anyone know what is the highest CD rate one can get today, either bank or credit union? TIA

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Jan 19, 2024
14 Posts
Joined Dec 2013
Jan 19, 2024
FloydA
Jan 19, 2024
14 Posts
Quote from renderman21 :
Does this company support opening the CD in the name of a trust? Or at least name the trust as a beneficiary?
I am in the same boat trying to find a place to put the money from a trust. I was thinking of a if I could find a CD to stick some cash in my parents should be able to sustain the nest egg for a bit. I was thinking about using a CD but very cautious as its allot of responsibility.

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