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Synchrony Bank Offers One-Day Cyber Monday 16-month CD
Synchrony Bank has a very limited-time (until 11:59 pm tonight!) 16-month CD (1.35% APY). The minimum opening deposit is $2K and must be deposited in a single transaction.
The code, "CYBER16," must be used on the first page of the online application when opening the CD.
A long-time DA member received notification of the 16-month CD in an email and passed the information along to me – thank you very much!
Availability
Headquartered in Draper, Utah, Synchrony Bank is an internet bank that offers its product line to all US citizens and alien residents.
Bank Overview
Synchrony Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 8.07% (excellent), as of September 30, 2015 data. In the past year, Synchrony Bank has increased its total deposits by $9.96 Billion, an excellent annual growth rate of 29.86%. Please refer to our financial overview of Synchrony Bank for more details.
Some DA readers may remember Synchrony Bank was formerly GE Retail Capital Bank.
Synchrony Bank was originally established in 1988 as Monogram Bank, USA. Its headquarters remained in the Cincinnati, Ohio area for more than fifteen years before moving to Salt Lake City, Utah. The bank is now headquartered in Draper, Utah, a city just south of Salt Lake City, with a branch in Bridgewater, New Jersey. Prior to becoming to Synchrony Bank in June of 2014, the bank's previous name of GE Capital Retail Bank readily identified it with GE Capital, the financial services company from which it was born. GE Capital provides growth financing to middle market companies all over the world.
How the CD Compares
When compared to the 96 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available nationally, Synchrony Bank’s 16-Month CD currently ranks third.
The above rates are accurate as of 11/30/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.