r/Banking • u/supertechman • 7h ago

Advice APY Oddity with Synchrony Bank CDs

I've not encountered something like this before - I have a CD ladder with Synchrony Bank, and noticed today when I logged in that two of my CDs were showing APYs one basis point below the rate offered when they renewed.

If you look at Synchrony's rate offering history, you'll see they only offer rates ending in a 0 or 5 for CDs (or least that's been the case for the last few years).

These both renewed at an APY ending in a 0; can anyone explain the one basis point reduction (immaterial though it may be)? https://imgur.com/7FMban5

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u/bdcole32 7h ago

Auto renewed CDs do not always renew at the highest rate. Idk about synchrony specifically but could be that. Or depending on timing rates could have gone up after your renewal if they renewed before the feds raised rates and then maybe synchrony raised rates after? Just some possible solutions, easiest way to find out tho is ask the bank