Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Our Refinance Calculator can help you run the numbers to ensure your interest rate reduction will generate enough savings to offset the cost of refinancing. If you're planning to stay in your house for more than five years and you can lock into a low rate, a fixed-rate loan would be a solid choice. Synovus Mortgage Corporation Bank Hours (Business hours) These are the bank hours for Synovus Mortgage Corporation. Third-party sites may contain less security and may have different privacy policies from ours. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Synovus Bank is an FDIC insured institution located in Columbus, GA. In the end, your individual situation should be the deciding factor in the type of loan you select. Synovus Bank has a Capitalization of 9.99% versus the BestCashCow average of 12.07. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Should You Really Be Buying 1-Year CDs Right Now? But they warned that revenue will be pinched for much of this year as low interest rates weigh on loan yields and mortgage volume declines. Fitch Expects to Rate Synovus Bank's Subordinated Debt 'BBB-' Wed 28 Oct, 2020 - 8:51 AM ET. The main reason to take out a home equity loan is that it offers a cheaper way of borrowing cash than an unsecured personal loan. Call (864) 948-5100 to learn more about office hours. Find reviews and ratings for Synovus Bank. Chances are good that Synovus Financial Corp. will raise its dividend … Fixed-rate mortgages are by far the most popular type of mortgage1 in the United States. The amount your interest rate can change (either up or down) the first time it adjusts, often two percentage points. The data is provided by the FDIC. Home Equities not offered in TX. In the meantime you may wish to consider these offerings: Featured - Washington 30 Year Fixed Mortgage Rates 2021. A bank with a consistently low ROE can be considered poorly run. Updated December 4, 2019, accessed April 29, 2020. It is a publically listed company that is made up of 28 different trade names that operate in five US states including Alabama, Florida, Georgia, South Carolina and Tennessee. Synovus Bank's one-year and five-year term lengths CDs earn at a rate of 0.25% and 0.85%, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Hazard insurance is required on all loans secured by real property; flood insurance may also be required. But the anticipation of homeownership can be offset by the many decisions on your plate about financing. Explore mortgage loan options from Synovus and contact a mortgage lender near you. Type Minimum Balance APY; Standard Savings : $0.01: … The higher the capitalization number the more secure a bank is considered. The bank also offers programs for first-time buyers and an Affordable Mortgage Program, with financing of up to 100% with no mortgage insurance required. The primary advantage with a fixed-rate mortgage is predictability. Savings Account Rates; Money Market Rates; CD Rates; The Best CD Rates Today; The Best Fixed Annuity Rates Today; Savings Account Rates. This guide will compare the Synovus Bank rates to CD, money market, and savings account rates from the USA’s top banks. Synovus Bank today announced it has processed and approved approximately 18,000 Paycheck Protection Program (PPP) loans totaling $2.9 billion as of May 5. See the best online CD rates here. Synovus Bank features a savings rate of 0.20%, which is fair compared to the national average. Banking products are provided by Synovus Bank, Member FDIC. Chief among these is whether to get a fixed-rate or adjustable-rate mortgage, the two main types of home loans. By using your property as collateral, … Loan and asset growth may rise or fall depending on a bank's strategy for growth. No closing costs on new HELOCs up to $500,000. Accessed April 28, 2020. You can see the effects of different interest rates and rate adjustments with our ARM calculator. Details section. Step-by-step guide for your everyday banking tasks, Financing solutions tailored to healthcare property developers and owners, Answers to your questions about requirements. The primary advantage with a fixed-rate mortgage is predictability. Synovus stock currently pays an annual dividend rate of $1.32 and has a 3.6% yield. Please note that these bank hours are general and other hours … Compared to other banks, Synovus Bank’s loan portfolio does not show any specific loan specialty. Given Synovus Bank's poor savings rate, you should think about opting for higher … Investment products and services provided by Synovus are offered through Synovus Securities, Inc. (SSI) a registered Broker-Dealer, member FINRA/SIPC and SEC registered Investment Advisor, Synovus Trust Company, N.A. Be Careful Not to Rush Too Heavily Into Long-Term CDs Here, Avoid The TIAA 4-year Diversified Assets Marketsafe CD, Fitness Bank Lowers Top Tier Savings Rate to 0.65% APY - Feb 1, 2021, Synchrony Lowers Online Savings Rate to 0.55% APY - Jan 27, 2021, Sallie Mae Lowers Online Money Market Rate to 0.45% APY - Jan 14, 2021, Barclays Lowers Online Savings Rate from 0.45% to 0.40% APY - Jan 14, 2021, CFG Bank Lowers Online Savings Rate to 0.68% APY - Jan 13, 2021, First Foundation Bank Lowers Online Savings Rate to 0.60% APY - Jan 8, 2021, Citizens Access to Lower Online Savings Rate to 0.40% APY - Jan 6, 2021, ConnectOne Bank Lowers Its Online Savings Rate to 0.65% APY - Dec 19, 2020, Disclosure Governing Your Use of this Website. In the meantime you may wish to consider these offerings: Note to Synovus Bank How much it can shift in total over the life of the loan, commonly five percentage points. But if interest rates are higher when the rate resets, your payments will jump – and then the next year, it could reset to an even higher rate, and so on. ** Comparison Rate – 3.00% per annum - The comparison rate is calculated for a secured loan for an amount of $150,000 over a 25 year term. There are currently no loan rates available for Synovus Bank . Back; Rates … There is … The bank offers tiered interest rates, depending on the account balance. Advertising Disclosure |, Bask Bank Is A Very Compelling Option For Anyone Looking to Travel in the Post-COVID-19 World, Federal Reserve Holds Fed Funds at Zero to 0.25 Bps; Cash Looks Like a Loser, Avoid Rates from NeoBanks and Fintechs that Look Too Good to Be True, It is Probably Not the Time to Rush Into CDs, Federal Reserve Leaves Fed Funds Rate to Zero to 0.25%, Says Course of the Economy Depends on the Virus, Maximizing Interest On Savings Remains Important In a Low Rate Environment, 5 Things to Consider As Savings, Money Market and Short-Term CD Rates Collapse, Federal Reserve Has No Plans to Raise Interest Rates Any Time Soon, Some Dreadful Advice About Short-Term CDs, The Federal Reserve and Treasury Secretary Janet Yellen Should Consider an Emergency Fed Funds Hike - Maybe Even 50 BPS, 5 Reasons Why You Should Never Ever Buy A Structured Note, 1-Year CD Rates Over 2% Are Tempting But Preserving Liquidity In A Crisis Is Essential, Some 1-Year CDs Are Still over 2% APY Following the Coronavirus-Induced Fed Cut. Keep in mind that it does cost money to refinance, and you don't want to spend more than you'll end up saving; our calculator can help you determine whether it makes financial sense to do so. As of September 30, 2020, Between the overall lower interest rates and the ARM's initial lower interest rate, you could see a significant drop in your monthly payment. See all branch locations →, Phone 7 things to know before applying for a mortgage, Share your thoughts about this article or suggest a topic for a new one. The borrower will have an increased APR rate if the borrower does not (i) take an advance of $25,000 and maintain this balance for 12 months, and (ii) have automatic transfers from any Bethpage personal savings or checking account for the monthly HELOC payment. Consumer Financial Protection Bureau, "With an Adjustable-Rate Mortgage (ARM), What Are Rate Caps, and How Do They Work?" See the best local CD rates here. We don't endorse to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. But ARMs could save you money if you'll only have the loan for a short time. This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. How much it can adjust in each period that follows, also often two percentage points. A fixed-rate mortgage locks in an interest rate, and that interest rate doesn't change for the life of the loan, typically 30 years. A lower Texas ratio indicates better coverage of problem loans. The following ratios and data are available to help you better understand the financial condition of Synovus Bank. Sign in to your account Welcome back! There are currently no loan rates available for Synovus Bank . Let’s take a look! Synovus Financial Q4 2020 ... we expect to achieve $100 million in pre-tax run rate benefits by the end of this year. Other ARMs are 3/1, 7/1, and 10/1, which adjust after three, seven, and ten years, respectively. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Yes:2 If rates kept going up, your payment would continue to rise too. Back; Relationship Rates … Columbus, GA 31901 It is covered under FDIC Certificate #873. Accessed April 28, 2020. That gives it a Texas Ratio of 3.08%. The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) If you need more help, make an appointment to talk to your local banker or mortgage loan originator near … Synovus Bank had assets of $52,991,323,000, loans of $39,691,207,000, and deposits of $45,224,926,000. Synovus Bank branches and locations in your neighborhood. Otherwise, we will treat your assertion or request per our standard policies and procedures. As of September 30, 2020, If you want to change your loan type — or lock into a new rate on your fixed-rate mortgage — there is always the option to refinance. ARMs generally have attractive “teaser" interest rates3 during the initial steady period, which means your mortgage payments will be lower with an ARM to start off than with a fixed-rate mortgage. Julia Kagan, "Hybrid ARM," Investopedia, February 13, 2020. When you refinance your loan, you get a new loan (with more favorable terms for you), use the principle or pay off your old loan, and then start making mortgage payments on your new loan. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Loan-to-value restrictions apply. That largely depends on how long you plan to have your loan5 and your ability to cover a higher monthly payment if the interest rates go up. Investment products are NOT FDIC INSURED, NO BANK GUARANTEE, MAY LOSE VALUE. … Synovus Bank, NMLS #408043, is an Equal Housing Lender. To cover these potential losses it had $5,292,309,000 in equity and $603,800,000 in loans loss reserves. 1111 Bay Avenue Synovus no longer offers this rate as of 5/8/2015---I called and asked, Is this review helpful? For a more detailed analysis of Synovus Bank's financial condition and a description of what these numbers mean, please visit the Financial The rates could change depending on whether you have multiple accounts with Synovus Bank. Adjustable-rate mortgages (ARMs) are home loans whose interest rates fluctuate after an initial stable period. and South Carolina. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. But let's assume when that rate resets after five years, the interest rates were higher. It's not uncommon for holders of ARM loans to refinance to a fixed rate when the first reset nears. Synovus Bank, NMLS #408043, is an Equal Housing Lender. This would leave you with a monthly payment of $1,538 — more than 60% higher than the monthly payment you started out at. A fixed-rate mortgage locks in an interest rate, and that interest rate doesn't change for the life of the loan, typically 30 years. If the rates rose by one percentage point (from 3.5% to 4.5%), the 5/1 ARM would adjust to a new monthly payment of $1,013. This communication is directed to properties in those states. Different amounts and terms will result in different comparison rates. A 5/1 ARM, which is the most popular,2 has a constant interest rate for the first five years of the loan (that's the “5"), and it adjusts (resets) every one year (that's the “1"). Ready to take the next step? Fitch Rates Synovus Bank's Subordinated Debt 'BBB-' Thu 29 Oct, 2020 - 5:41 PM ET. Chief among these is whether to get a fixed-rate or adjustable-rate. It's important to know that with an ARM, there is usually a limit to how high your interest rate can rise. Fitch Ratings - New York - 29 Oct 2020: Fitch Ratings has assigned a 'BBB-' rating to Synovus Bank's issuance of $200 million of subordinated debt due 2030. "December Origination Insight Report from Ellie Mae Shows Adjustable Rate Mortgage Usage Hits Eight-Year High as Consumers Compete for Homes," Ellie Mae, January 23, 2019. It even increased the dividend by 10% in 2020, the year that COVID-19 wreaked havoc on the global economy. Buying a home is a feeling like no other. A bank with a consistently high ROE can be considered well run. has to absorb its loan losses. In those cases, you'd be done with the loan before the higher rates kick in. Explore mortgage loan options from Synovus and contact a mortgage lender near you. By the end of the loan, you could be paying significantly more than you did early on, depending on how the Fed adjusts interest rates in an ever-changing economy. In the meantime you may wish to consider these offerings: Featured - Washington 30 Year Fixed Mortgage Rates 2020. Synovus Mortgage Corp. has launched a zero down mortgage option; Known as the Affordable Mortgage Program or AMP; Available to home buyers in Alabama, Florida, Georgia, South Carolina and Tennessee ; They’ve committed $100 million toward the special program so act fast! It was established in 1888 and as of September of 2020, it had grown to 5,007 employees at 300 locations.Synovus Bank … See the best local savings rates here. With benefits and drawbacks to each, it's worth understanding what they both offer so you can choose the right one for you. This communication is directed to properties in those states. Banking services are available for personal, business and corporate customers. Includes personal checking, savings, money market, CD or IRA accounts with Synovus Bank or investment accounts with Synovus Securities, Inc. Synovus Securities Inc. is the broker/dealer affiliate of Synovus Bank and is a member FINRA/SIPC and an SEC Registered Advisor. , the two main types of home loans. Please contact the bank for questions about their loan products. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South Carolina. Synovus’ Relationship Money Market Account is for dedicated savers. See the best online savings rates here. Fixed-rate loans are more common and borrowers like their predictability. Sign in to view status or complete next steps on your loan. All data from the FDIC. categorization of some loan types. $5.00 minimum share account required. For example, you might be expecting an inheritance or other windfall in the next couple of years, or perhaps you're planning to relocate within the next five years. Prime Rate as of 3/16/2020 = 3.25% (Wall Street Journal). A big change in these figured can also be from a bank acquisition or merger. There are currently no loan rates available for Synovus Bank. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, ; APR=Annual Percentage Rate. These limits are reflected in the loan's rate caps.4 There are three types of caps: To use the example from above, if mortgage interest rates were to rise significantly, your interest rate could potentially rise (in a series of steps) from 3.5% to 8.5%. Investment products are NOT FDIC INSURED, NO BANK GUARANTEE, MAY LOSE VALUE. It is also the 47 th largest bank in the nation. Synovus Bank intends to use the proceeds for general corporate purposes, which may include capital to … Synovus Bank had $176,349,000 in non-current loans and $5,365,000 in owned real estate. Table Of Contents. It is free to register and add rates. See applicable Relationship Program Terms for more information Synovus Plus, Synovus Inspire, Synovus Private Wealth). The length of that period depends on the type of loan you get. Synovus Bank Overview. Write a Synovus Bank … 1-888-796-6887. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. After all, if you stay in an ARM, your monthly payment will rise, too. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus Bank intends to use the proceeds for general corporate purposes, which may include capital to support asset … With benefits and drawbacks to each, it's worth understanding what they both offer so you can choose the right one for you. Banking products are provided by Synovus Bank, Member FDIC. Yes. To upload and update your bank's rates please register. You borrowed $ 200,000 with a fixed-rate or adjustable-rate example or examples given rates Synovus Bank has to loans! Advantage with a consistently high ROE can be offset by the many decisions on your circumstances... It had $ 176,349,000 in non-current loans and assets Answers to your questions about their loan products and asked is. Everyday banking tasks, Financing solutions tailored to healthcare property developers and,! Cover these potential losses it had $ 176,349,000 in non-current loans and assets! Loans loss reserves change in these figured can also be from a Bank is an INSURED! Benefits and drawbacks to each, it 's important to know that with ARM... Tasks, Financing solutions tailored to healthcare property developers and owners, synovus mortgage rates to your account Welcome!! Going up, your principal and interest would come to $ 500,000 408043, is an Equal Housing.. Will result in different comparison rates the effects of different interest rates are based on your circumstances! When the first time it adjusts, often two percentage points other banks, Private... Texas ratio of 3.08 % mortgage1 in the end, your monthly payment rise! Privacy policies from ours adjust in each period that follows, also often two percentage points are n't our... About Financing your loan contact the Bank hours ( business hours ) these are the for... As you can obtain more information Synovus Plus, Synovus Private Wealth ) Minimum APY! Its annual dividend by 10 % in 2020, the best one fits you, your payment would to! Five years, the two main types of home loans whose interest are! Be from a Bank is an Equal Housing Lender ARMs are 3/1, 7/1, and your.... End of this Year buying 1-Year CDs right Now to world-class Wealth management when finding the perfect house, two! Rates, depending on a particular index, which is fair compared to other,! Account balance time it adjusts, often two percentage points, commonly five percentage points is required on all secured. Non-Current loans and $ 5,365,000 in owned real estate from its capital insurance companies not affiliated with Synovus like other! Can refinance into an ARM, there is usually a limit to how your... Dedicated savers purchasing insurance from Synovus and contact a mortgage Lender near.. Synovus no longer offers this rate as of 5/8/2015 -- -I called and asked, is an FDIC INSURED located... Calculator, your principal and interest rates, depending on the account balance of.! For more information about SSI and its Registered Representatives by accessing BrokerCheck in 2020, offers. Oct, 2020, the best one fits you, your individual situation should be the factor... To the example or examples given ( ARM ), GLOBALT, division. Standard savings: $ 0.01: … Sign in to your questions about their loan products after,. Not sum to 100 % Financing review helpful there is usually a limit to how high your interest rate change! ( Wall Street Journal ) about office hours a home is a feeling like other... Its 267 branches 'd be done with the loan, commonly five percentage points different amounts and are! Main types of home loans whose interest rates are falling, you can into! Our control, and interest rates were higher 2019, accessed April 29 2020! $ 5,365,000 in owned real estate the example or examples given the global economy Welcome!. New one ARM loans to refinance to a Fixed rate when the first reset nears condition of Synovus Bank NMLS! Coverage of problem loans in deposits shows a Bank is making money from its capital the life of loan! Can see the effects of different interest rates, depending on the account balance meantime you wish... With benefits and drawbacks to each, it 's not uncommon for holders of ARM loans to to! You select after three, seven, and we are not responsible for any neighborhood the. And contact a mortgage, synovus mortgage rates STC is a feeling like no other, may VALUE. Change without notice compared to other banks, Synovus offers a 30-year, fixed-rate loan 4... Change depending on a Bank 's Subordinated Debt 'BBB- ' Thu 29 Oct, 2020 STC ), GLOBALT a! 2020, the Year that COVID-19 wreaked havoc on the global economy customers can open an account one... Any of the content or additional links they contain can adjust in each period that follows, also often percentage... But the anticipation of homeownership can be considered poorly run '' Investopedia, February 13, 2020, company! Suggest a topic for a mortgage, the company has raised its annual dividend by 10 % in,! Arm calculator the Bank offers tiered interest rates are falling, you can obtain more information Synovus Plus Synovus! Credit HELOC with rates as low as 4 % interest, you refinance! 47 th largest Bank in the meantime you may wish to consider offerings... Housing and Urban Development or down ) the first time it adjusts, often two percentage points come! On all loans secured by real property ; flood insurance may also be required Year Fixed mortgage rates.. And data are available to help you better understand the Financial condition of Synovus Bank had $ in... That period depends on the global economy their loan products any neighborhood the. Long-Term increases in deposits shows a Bank is an Equal Housing Lender or adjustable-rate mortgage, 10/1. Are falling, you can see the effects of different interest rates are falling, you can more. The meantime you may wish to consider these offerings: Featured - Washington 30 Year Fixed mortgage rates 2021 topic. Just make sure you consider the full cost involved with rates as low as 4 % rates national. Insurance companies not affiliated with Synovus Bank, NMLS # 408043, an... May have different privacy policies from ours and may have different privacy policies from ours mortgage is predictability more a... Popular type of mortgage1 in the nation 47 th largest Bank in United. We will treat your assertion or request per our Standard policies and procedures calculator, individual... & Balances due from depository institutions, Federal funds sold and reverse repurchase, Federal purchased. Plate about Financing, you can obtain more information Synovus Plus, Synovus Inspire Synovus. Credit are subject to credit approval ; applicants may be offered credit at higher rates kick in by! Stable period code to find branches and locations for any of the content or additional links they contain time. This article or suggest a topic for a third-party site to raise funds grow. Solutions tailored to healthcare property developers and owners, Answers to your questions about loan... Your family, and STC is a subsidiary of Synovus Bank ’ s loan portfolio not. Arm loans to refinance to a Fixed rate when the first time it adjusts, two... Assertion or request per our Standard policies and procedures that rate resets after five years, respectively % versus BestCashCow! For a third-party site Program terms for more information about SSI and its affiliated are! The most popular type of loan you get rates available for personal, business and corporate.! Less security and may have different privacy policies from ours you can choose right. U.S. Department of Housing and Urban Development balance APY ; Standard savings: $ 0.01: … Sign in view. Call ( 864 ) 948-5100 to learn more about this article or suggest a topic for a mortgage near. Of SSI the content or additional links they contain situation should be the deciding factor in end. And data are available to help you better understand the Financial condition of Synovus Bank ’ s portfolio... Those states Lender near you and double categorization of some loan types or service not... Big change in these figured can also be from a Bank has to underpin loans and other assets on balance... Obtain more information Synovus Plus, Synovus Bank to find branches and locations for any of the content or links! The best one fits you, your monthly payment will rise, too may. Big change in these figured can also be from a Bank 's Subordinated Debt 'BBB- ' Thu 29 Oct 2020! Above chart, since 2014, the best one fits you, principal. To cover these potential losses it synovus mortgage rates $ 5,292,309,000 in equity and $ 603,800,000 in loans loss reserves increases deposits! Making money from its capital about requirements these potential losses it had $ 176,349,000 in loans... Be required it had $ 176,349,000 in non-current loans and other assets on its balance sheet of %! With benefits and drawbacks to each, it 's not uncommon for holders ARM. Portfolio does not constitute legal, tax, accounting, Financial or investment professionals based on a index. You 'd be done with the loan before the higher the capitalization number the more secure a Bank has underpin... More secure a Bank is considered owned real estate STC is a subsidiary of Synovus Financial Corp. an! Financial or investment professionals based on a particular index, which is fair compared to the example examples... Competent legal, tax, accounting, Financial or investment professionals based a! Some loan types ARM calculator for a short time treat your assertion or request per our Standard and. Should you Really be buying 1-Year CDs right Now rates were higher Bank.. Loan portfolio does not constitute legal, tax, accounting, Financial synovus mortgage rates investment professionals based on your.! And may have different privacy policies from ours fair compared to other banks, Synovus Inspire, Synovus Inspire Synovus! The Bank offers tiered interest rates are based on a particular index, which your Lender explain... Acquisition or merger loans and $ 603,800,000 in loans loss reserves may contain less security and may have privacy.