Personal Finance Banking Savings
Written by Sophia Acevedo; edited by Laura Grace Tarpley; reviewed by Evelyn He
Updated
- Overall Rating
- Pros and Cons
- About Synovus Bank
- FAQs
- Synovus Bank Account Reviews
- How Synovus Bank Compares
- Why You Should Trust Us
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Compare Synovus Bank accounts
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Synovus Personal Savings Account
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Synovus Plus Checking Account
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Synovus CD
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Synovus Money Market Account
Minimum deposit
$100
Annual Percentage Yield (APY)
0.01% to 0.15%
Minimum deposit
$100
Annual Percentage Yield (APY)
None
Minimum deposit
$1,000
Annual Percentage Yield (APY)
0.03% to 5.25%
Minimum deposit
$100
Annual Percentage Yield (APY)
0.01% to 2.15%
Start saving
Synovus Bank, FDIC Insured
Start banking
Synovus Bank, FDIC Insured
Start saving
Synovus Bank, FDIC Insured
Start banking
Synovus Bank, FDIC Insured
Synovus Bank Review: Overall Rating
Feature | Personal Finance Insider rating (out of 5) |
Savings | 3.75 |
Checking | 3.75 |
CD | 3.75 |
Money market account | 3.25 |
Trustworthiness | 5 |
Total | 4 |
Synovus Bank Pros and Cons
Pros | Cons |
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About Synovus Bank
Synovus is a brick-and-mortar financial institution with 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee. Customers have access to over 1,250 ATMs through the bank's ATM network and the Publix Presto! ATM network.
Customer service is available every day from 7 a.m. to 11 p.m. ET.
The bank's mobile app has 4.5 out of 5 stars in the Google Play Store and 4.8 out of 5 stars in the Apple store.
Synovus is FDIC-insured. You may keep up to $250,000 in an individual bank account.
Synovus Plus
Synovus Plus is a special bank program that offers discounts and perks for other bank products and services.
The following benefits are the most notable perks offered through Synovus Plus:
Bank product | Perks |
Synovus Plus Checking Account |
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Synovus Personal Savings Account, Synovus Money Market Account, Synovus Bank Synovus CD |
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Synovus Credit Cards |
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Loans |
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You may qualify for Synovus Plus if you open and maintain the Synovus Plus Checking Account.
Is Synovus Bank Trustworthy?
We include ratings from the Better Business Bureau so you can see how a bank handles customer issues. The BBB gives Synovus an A+ rating.
Synovus hasn't been involved in any recent public scandals.
Synovus Bank FAQs
Is Synovus Bank nationwide?
Synovus Bank is a regional brick-and-mortar financial institution available only in the Southeast US. There are 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee.
How much do you need to open an account at Synovus Bank?
The minimum opening deposit for savings, checking, or money market accounts is $100. CDs require a minimum of $1,000.
Is Synovus a good bank?
Synovus is a good choice if you are looking to open a checking account at a brick-and-mortar bank. If you would like to earn more interest on your savings, online banks or credit unions may be stronger options since they pay higher rates on savings accounts and CDs.
Synovus Bank Account Reviews
Synovus Personal Savings Account
Synovus Personal Savings Account
Start saving
Synovus Bank, FDIC Insured
Insider’s Rating
3.75/5
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
0.01% to 0.15%
Minimum Opening Deposit
$100
Pros
- Possible to waive the monthly service fee
Cons
- Low interest rate
- $100 minimum opening deposit
- $5 monthly service fee
Insider’s Take
Synovus might be appealing if you live in the Southeast US and want a traditional banking experience. However, its checking and savings accounts may include monthly fees depending on your account balance.
Product Details
- 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee
- Access to 1,250 Synovus Bank and Publix Presto! ATMs
- Earn 0.01% APY on account balances under $2,500
- Earn 0.05% APY on account balances of $2,500 to $24,999.99
- Earn 0.10% APY on account balances of $25,000 to $99,999.99
- Earn 0.15% APY on account balances of $100,000 to $500,000.00
- To waive the $5 monthly service fee, keep at least $200 across your Synovus Bank accounts
- Interest compounded daily, deposited monthly
- Member FDIC
The Synovus Personal Savings Account is a standard savings option, similar to what you'd find at most brick-and-mortar banks. There's a $5 monthly service fee if you don't maintain at least $200 across your bank accounts, and the interest rate is pretty low.
If you're looking to earn a higher interest rate, our guide on the best high-yield savings accounts has stronger savings accounts.
Synovus Plus Checking Account
Synovus Plus Checking Account
Start banking
Synovus Bank, FDIC Insured
Insider’s Rating
3.75/5
Fees
$10 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$100
Pros
- Possible to waive monthly service fee
- Multiple overdraft protection options
Cons
- $100 minimum opening deposit
- $10 monthly service fee
- $36 overdraft fee
Insider’s Take
Synovus might be appealing if you live in the Southeast US and want a traditional banking experience. However, its checking and savings accounts may include monthly fees depending on your account balance.
Product Details
- 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee
- Access to 1,250 Synovus Bank and Publix Presto! ATMs
- To waive the monthly service fee, maintain a $10,000 relationship balance, a $500,000 minimum business relationship balance, or receive $5,000 or more in monthly checking account deposits
- Overdraft protection lets you link your checking account to another Synovus Bank account, apply for a line of credit, or use your credit card for a cash advance
- Monthly service fee waived for military members
- FDIC insured
The Synovus Plus Checking Account is a decent option if you meet one of the requirements to waive the Synovus Plus Checking Account. You may waive the fee if you maintain $5,000 or more in your checking account each month, $10,000 across all your Synovus Bank accounts, or $500,000 or more across business and commercial bank accounts each month. The fee is also waived for military members.
This checking account also allows you to have access to the Synovus Plus program, which has perks like higher interest rates on savings accounts or an automatic out-of-network fee refund each month.
Synovus CD
Synovus CD
Start saving
Synovus Bank, FDIC Insured
Insider’s Rating
3.75/5
Annual Percentage Yield (APY)
0.03% to 5.25%
Minimum Opening Deposit
$1,000
Pros
- Standard term options
- Standard-to-low early withdrawal penalties
Cons
- Low interest rate
- $1,000 minimum opening deposit
Insider’s Take
Synovus might be appealing if you live in the Southeast US and want a traditional banking experience. However, its checking and savings accounts may include monthly fees depending on your account balance.
Product Details
- 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee
- Access to 1,250 Synovus Bank and Publix Presto! ATMs
- Terms range from 3 months to 5 years
- 5.25% relationship rate on 5-month CD, 5.05% non-relationship rate on 5-month CD; 4.50% relationship rate on 13-month CD, 4.30% on 13-month CD
- Early withdrawal penalties: 1 month's interest for terms between 3 months and 6 months; 3 months' interest for terms between 6 months and 1 year; 6 months' interest for terms between 1 year and 3 years; 9 months' interest for terms over 3 years
- Interest compounded daily, deposited monthly
- Member FDIC
Synovus pays low interest rates on most terms and requires a minimum opening deposit of $1,000. But it pays high CD rates on select promotional terms.
Synovus Money Market Account
Synovus Money Market Account
Start banking
Synovus Bank, FDIC Insured
Insider’s Rating
3.25/5
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.01% to 2.15%
Minimum Opening Deposit
$100
Pros
- $100 minimum opening deposit
- Possible to waive the monthly service fee
- Checks included
Cons
- Low interest rate
- $10 monthly service fee
- No debit card
Insider’s Take
Synovus might be appealing if you live in the Southeast US and want a traditional banking experience. However, its checking and savings accounts may include monthly fees depending on your account balance.
Product Details
- 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee
- Access to 1,250 Synovus Bank and Publix Presto! ATMs
- Earn 0.01% APY on accounts under $2,500
- Earn 0.60% APY on accounts between $2,500 and $9,999.99
- Earn 1.40% APY on accounts between $10,000 and $99,999.99
- Earn 2.15% APY on accounts between $100,000 and $500,000
- To waive the $10 monthly service fee, maintain at least $2,500 across your Synovus Bank accounts
- Interest compounded daily, deposited monthly
- Member FDIC
You might like the Synovus Money Market Account if you want to open a money market account with a low initial deposit. Most brick-and-mortar banks require a minimum of $1,000, while you'll only need $100 with Synovus.
To get the most out of the account, you'll want to maintain a balance of at least $2,500. Otherwise, you'll have to pay a no monthly service fee.
How Synovus Bank Compares
Synovus Bank vs. First Horizon Bank
First Horizon Bank is another brick-and-mortar bank located in the Southeast US region. Deciding between these two banks may largely depend on your habits and preferences.
Both banks have strong checking accounts but stand out for different reasons.
You might lean more toward Synovus if you qualify for Synovus Plus. To get the bank's perks, you'll first need to open the Synovus Plus Checking Account. Then, to waive the monthly service fee you'll need to maintain a minimum monthly deposit of $5,000 in your checking account, $10,000 across all your Synovus Bank accounts, or $500,000 or more across business and commercial bank accounts each month.
If you don't think you'll meet these requirements, First Horizon accounts might be easier to manage. The First Horizon Bank FirstView Checking Account has a lower minimum opening deposit, and the account has free overdraft protection.
First Horizon Bank Review
Synovus Bank vs. First Citizens Bank
First Citizens Bank is available in most of the same states as Synovus.
First Citizens Bank might be your top choice if you'd like to open a bank account with a low minimum opening deposit. You can open a savings or checking account with just $50. Synovus requires an initial deposit of $100 or more.
If you frequently withdraw cash from your bank account, it'll be a toss-up between the two banks.
First Citizens Bank has more branches and is available in more states. Meanwhile, Synovus customers have access to a larger fee-free ATM network.
First Citizens Bank Review
Why You Should Trust Us: How We Reviewed Synovus Bank
For our Synovus Bank review, we rated bank products and services using our bank account methodology.
At Personal Finance Insider, we rate bank accounts on a scale from zero to five stars. We review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options. We'll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circ*mstances and overcoming their fears around money.ExpertiseSophia's expertise includes:
- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.
Compliance and Operations Associate
Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
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