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How To Open A Savings Account

If you are wondering how to open a savings account, Synchrony Bank is here to help. The process is quick and simple. Our high yield savings accounts offer some of the best rates in the industry+, and we provide convenient online withdrawals** and 24/7 access to your money.

Keep reading to learn how to open an account today. 

A How-To Guide For Opening A Savings Account

learn how to open a savings account

Synchrony Bank makes opening a savings account easy and quick. Here is how you open an account:

Step 1: Decide what type of account you need.

First, select the account that offers the best fit for your lifestyle. A high yield savings account from Synchrony Bank is insured and protected by FDIC insurance up to $250,000 per depositor, per insured bank, for each ownership category. 

In addition to high yield savings accounts, you may also want to consider other products such as certificates of deposit (CDs) or money market accounts.

These deposit products offer different interest rates and levels of liquidity, so be sure to do your homework before your deposit your funds.

Step 2: Confirm your initial deposit.

savings deposit

Once you know what type of account you’d like to open, next decide how much money you would like to initially deposit.

Savings accounts with Synchrony Bank have no minimum balance so you can fund your account with as little as a penny.

If you wish to fund your new account electronically, you must provide an external bank account number or bank routing/transit number. 

Our savings accounts are not subject to a monthly maintenance fee so you’ll start saving money as soon as you sign up. 

Step 3: Enter your information.

The final step in opening an account is to provide your basic personal information, as required by federal law. For your convenience, you can print out an application or apply directly online.

Open A Savings Account With Synchrony Bank Today

If you are looking to start saving today with great interest yields, Synchrony Bank has you covered. 

Synchrony Bank has award-winning rates that go beyond the national average+. Our tools allow 24/7 access to your account from your computer, tablet or smartphone — so you can choose when and where you want to bank.

Open a savings account with Synchrony Bank today. Call 1-844-345-5789 or visit us online to get started.

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Sources: 

Investopedia: http://www.investopedia.com/terms/s/savingsaccount.asp

US News: http://money.usnews.com/money/personal-finance/articles/2014/09/04/how-to-find-the-best-savings-account-for-you

+National Average APYs are based on specific product types of top 50 U.S. banks (ranked by total deposits) provided by Informa Research Services, Inc. CD Rates: Average APYs are based on certificate of deposit accounts of $25,000. High Yield Savings Rates: Average APYs are based on High Yield Savings Accounts of $10,000. Money Market Account Rates: Average APYs are based on Money Market Accounts of $10,000. Although the information provided by Informa Research Services, Inc. has been obtained from the various institutions, accuracy cannot be guaranteed.

**Federal regulations limit the number of electronic and telephone transactions you can make with your savings or money market account to six transfers or withdrawals per monthly statement cycle. If you exceed these limits, we may close your account.


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