Synovus Personal Savings Account Review 2024

Synovus offers personal savings accounts to help you reach your money goals. Find rates, fees, and opening balances to see if it's right for you.
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Editor's Rating
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Written by Rebecca Lake
Financial Expert
Managing Editor
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Opening a savings account can help you get a step closer to achieving your financial goals. Where you decide to open a savings account can determine how much interest you’re able to earn and the fees you’ll pay.

If you’re interested in traditional savings options, you might consider Synovus Bank. Synovus offers personal savings accounts with convenient access to branch banking.

This Synovus personal savings account review offers a closer look at what you can expect if you decide to open an account here.

Synovus Personal Savings Account At-a-Glance

  • Account types offered: Personal savings, minor savings, holiday savings, money market savings, certificate of deposit accounts, and checking accounts
  • FDIC insured: Synovus savings accounts are insured by the FDIC
  • Fees: $5 monthly service fee; excess withdrawal fee
  • Minimum deposit: $100 for personal savings accounts
  • Access: Manage accounts online, through the Synovus mobile app, or at a Synovus branch or ATM

Which Banks Have the Best Savings APYs?

Thousands of banks offer savings accounts, and there’s fierce competition among them to offer the best rates. We’ve compiled a list you can sort through below to find a savings account to fit your financial goals.

Compare to Others

There are lots of savings account options out there, and it’s helpful to consider how they compare. Here are a few other savings accounts you may weigh in the balance when deciding where to open an account.

CIT Savings Connect

CIT Bank is a division of First Citizens Bank, and it offers a high-yield savings account with a competitive rate and low fees. In addition to savings accounts, CIT also offers checking accounts, money market accounts, and CDs.

If you’re interested in an online savings option, you might consider CIT as a Synovus alternative.

Read our CIT Bank savings review

American Express®, Member FDIC, High-Yield Savings Account

You may be familiar with American Express®, member FDIC, credit card offerings, but you can also open a high-yield savings account here. Some of the top benefits include a competitive APY, no monthly fees, and no minimum deposit requirements.

Again, however, you won’t have access to branch banking.

Read our American Express Bank savings account review.

Bread™ Savings

Bread™, formerly Comenity Bank, offers an online savings account that earns a superior rate. There’s no monthly fee and no minimum deposit requirement to open an account.

You won’t get branch banking, but you can access your savings via online and mobile banking.

Read our Bread savings review.

Who Is a Synovus Personal Savings Account For?

Synovus personal savings accounts could be a good fit for anyone who wants to keep their money secure while earning a little interest. You might open this savings account if you:

  • Prefer traditional banking to online banks
  • Are saving for one or more specific goals
  • Have at least $100 to open an account
  • Would like to have fee-free ATM access to your savings
  • Already have bank accounts with Synovus

If you’re looking for the highest savings rates, this account may not be right for you. Compared to what you might find at online banks, Synovus personal savings rates lag behind the competition.

Top Features of the Synovus Personal Savings Account

When comparing savings accounts, it’s helpful to look at the features or benefits you can expect to enjoy. Here are some of the key highlights to know about saving with Synovus.

Account Types

Synovus is a full-service bank, so customers have access to a complete suite of banking products and services.

In addition to personal savings accounts, you can open savings accounts for kids, holiday savings accounts, money market accounts, CDs, or checking accounts.

You can also apply for personal loans, mortgage loans, home equity lines of credit, and credit cards here.

Unlimited Deposits

Synovus allows you to make unlimited deposits to your personal savings account. You can link your Synovus checking account or connect your savings to accounts at a different bank.

Maintaining a $200 relationship balance can help you to avoid the $5 monthly fee. You can also unlock higher interest rate tiers when you have other Synovus accounts.

Fee-Free ATMs

Synovus allows you to make fee-free withdrawals from your personal savings account at Synovus and Publix Presto! ATM locations. That’s an added benefit you don’t always get with traditional or online savings accounts.


Synovus allows you to make up to six fee-free withdrawals from your personal savings account each month. That’s a good thing if you need to withdraw cash from time to time to cover unexpected expenses.

However, an excess withdrawal fee will apply once you exceed that limit.

FDIC Coverage

The Federal Deposit Insurance Corporation (FDIC) insures deposits at member banks in the rare event that a bank fails. Your savings are FDIC-insured, up to the standard limit of $250,000 per depositor, per account ownership type.

Synovus also uses security measures to protect your online and mobile banking information, so it’s a safe place to save.

How to Get Started

If you’d like to open a Synovus personal savings account, you can begin your application online or visit a Synovus branch near you.

Here are the retirements to open a Synovus personal savings account:

What You Need to Apply

  • Valid government-issued ID
  • Mobile phone number
  • Valid email address
  • Date of birth
  • Social Security number
  • Street address
  • $100 minimum opening deposit

If you don’t live in any of the states listed above or meet the age and citizenship requirements, you won’t be able to open a savings account or any other type of account with Synovus.

Rating the Features

Just how good is a Synovus personal savings account? Here’s a closer look at how the features compare.

User Experience

Synovus offers a user experience that’s comparable to other brick-and-mortar banks. You can review account options and start an application online. If you need help, you can visit a branch or contact customer service.

Overall, it’s fairly easy to learn about Synovus products and select the account that’s right for you.


Like other traditional banks, Synovus does charge a monthly maintenance fee for its savings accounts. The fee for personal savings is $5 per month.

You can avoid the fee by maintaining a $200 relationship balance across other Synovus banking or investment accounts.


Getting a great rate on savings might be your first priority. Unfortunately, Synovus is not notable for offering superior savings rates.

That’s not uncommon for traditional banks, however. Online banks, by comparison, can offer higher APYs and charge fewer fees for savings accounts, thanks to their lower overhead costs.


As mentioned, Synovus is a full-service bank, and you can find plenty of different options for managing your money here.

That might appeal to you if you’d like to be able to do all of your financial tasks in one place, including saving, spending, and borrowing.

Customer Support

If you need help with your account, you can visit a Synovus branch near you to speak with a banking specialist. You can also contact customer support by phone at 1-888-796-6887.

Synovus does not offer live chat support at this time.


You have several ways to access your Synovus personal savings account, including:

  • At a Synovus branch
  • Synovus ATMs and Publix Presto! ATMs
  • Online banking
  • Mobile banking

Again, Synovus is unique for offering fee-free ATM access with its savings accounts.

Pros and Cons of U.S. Synovus Personal Savings Accounts

A Synovus personal savings account might appeal to some people more than others. Here's a breakdown of the main pros and cons to be aware of.

The main attraction of this account is the opportunity to bank at a branch and access your money at the ATM.

If you’re focused on getting the best rates possible, you may want to look elsewhere. Online savings accounts could provide you with more room for your money to grow if you’re getting a higher APY.

Bottom Line

Savings accounts can help you reach your goals, one dollar at a time.

Synovus personal savings accounts can help you get started with saving, whether your goals are big or small. You won’t get the highest rate, but you’ll have convenient access to your money.

If you’re ready to get started, you can begin your application for a Synovus personal savings account online or head to your nearest Synovus branch.

Frequently Asked Questions (FAQs)

Does Synovus charge for a savings account?

The Synovus personal savings account has a $5 monthly maintenance fee. You can waive the fee by maintaining a minimum $200 relationship balance in one or more linked Synovus accounts.

Can anyone open a Synovus personal savings account?

You’ll need to be at least 18, a U.S. citizen, and a resident of a state in which Synovus operates to open a personal savings account. Parents can open savings accounts on behalf of minor children under the age of 18.

Is the Synovus personal savings account worth it?

Opening a savings account with Synovus could be worth it if you’re looking for a safe, secure place to keep your money. You might open a Synovus personal savings account if you already have a checking account or money market account with Synovus and are able to meet the minimum balance requirements to avoid the monthly fee.

Are online savings accounts better?

Online savings accounts can outpace traditional savings accounts in terms of the APY you can earn and the fees you might have to pay. Online banks tend to have lower overhead costs, which allows them to pass on savings to their customers in the form of higher rates and fewer fees. However, you typically won’t get branch banking, so there’s a trade-off you’re making to get the highest rate.

About Author
Rebecca Lake
Rebecca Lake, a valued contributor at MoneyRates, unravels the intricacies of personal finance with her expertise in areas spanning from banking to homebuying and investing to small business strategies. Rebecca seamlessly bridges the gap between complex financial concepts and readers, demystifying them with her clear and insightful narratives. She has contributed to U.S. News and World Report, among numerous other publications. With Rebecca’s guidance, financial clarity is just an article away.
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