Synchrony Bank Offers Best High-Yield Savings Account at 4.00% APY

NEW YORK, NY — Synchrony Bank has emerged as the top choice for high-yield savings accounts, offering an impressive annual percentage yield (APY) of 4.00%. As of May 8, 2025, this account stands out among 370 products reviewed from 157 banks and credit unions across the country.

Experts evaluated these accounts based on crucial factors such as APY, fees, and customer service. The Synchrony High-Yield Savings account boasts a low fee structure, easy ATM access, and federal insurance coverage up to $250,000 per depositor, ensuring safety for customers’ funds.

“APY is the key consideration for savers, but we also looked at trustworthiness and customer support,” said Taylor Tepper, former Senior Staff Writer at Forbes Advisor. Tepper has extensive experience in personal finance journalism, with his work featured in major publications like the New York Times and Fortune.

Other accounts with attractive rates include the American Express National Bank, which offers a 3.60% APY, and Capital One 360, which also provides a competitive rate. However, these accounts do not match Synchrony’s appealing interest and low fees.

Many experts recommend using high-yield savings accounts primarily for emergency funds and short-term savings goals. They emphasize the importance of monitoring APYs regularly due to potential changes influenced by federal interest rate adjustments. With high-yield savings rates currently favorable, now may be the time for consumers to consider switching accounts.

The Synchrony account is recommended for savers looking to grow their emergency funds without incurring monthly charges. However, it is advised that consumers be aware of the bank’s online-only nature, which may not cater to those who prefer personal banking experiences.