American Express

Last Updated: 6/20/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

High Yield Savings Account: 3.60% APY(Rank 66 out of 74 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.42% (as of 5/19/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: New York, New York

Founded: 1850

Affiliation: The American Express Company (NYSE: AXP). Accounts offered by American Express National Bank.

Access to Branches: None

BBB Rating: F (Not BBB Accredited)

App Store Rating: 4.9/5

Google Play Rating: 3.8/5

Website: Visit American Express

Our Take on American Express

Highlights

  • Current APY of 3.60% is competitive among high-yield accounts.
  • No minimum deposit or balance requirements.
  • No maintenance fees for the savings account.
  • High App Store rating of 4.9.

Considerations

  • BBB rating is F and not accredited.
  • No physical branches available for in-person service.
  • Google Play rating is only 3.8.
  • Direct deposit is not required, but may limit some users.
Summary: American Express offers a High Yield Savings Account with a competitive APY of 3.60%, no minimum deposit, and no maintenance fees. However, it has an F rating from the BBB and is not accredited, which may concern potential customers. Additionally, there are no physical branches, and while the App Store rating is high, the Google Play rating is lower. The lack of a direct deposit requirement may limit accessibility for some users.

Savings Account

Savings Account Offered by American Express

FeatureHigh Yield Savings Account
APY
3.60% (as of 6/20/2025)
APY TrendStable for the last month
Minimum Deposit$0
Minimum Balance for APY$0
FDIC-insured
Yes
Online OnlyYes
Bundled Account
No
Direct Deposit Required
No
Compound Frequency
Daily
Maintenance Fee$0
EligibilityUnited States

No deposit agreement summary available for this bank.

Calculate Savings for American Express

All calculations are based on APY.

High Yield Savings Account (APY: 3.60%)

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $4 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 3.60% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

American Express Savings Rates Over Time

Historical APY Insights

MetricHigh Yield Savings Account
Latest APY3.60 %
TrendSideways
Slope (bps/mo)-4.4
Rate Changes / Mo0.40
Days Since Last Change44
High (-5 m)3.80 %
Low (-5 m)3.60 %
Draw-down from High-5.3 %
Volatility (CV)0.019
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-5 m)
Highest APY in the last 150 days.
Low (-5 m)
Lowest APY in the last 150 days.
Draw-down from High
How far today sits below the 5-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Compare American Express' Savings Account

  • Affirm - 3.85% APY
  • All America Bank - 1.50-3.25% APY
  • Ally Bank - 3.50% APY
  • Amalgamated Bank - 2.25% APY
  • Axos Bank - 4.66% APY
  • Bank5 Connect - 4.05% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.20% APY
  • Betterment - 4.00% APY
  • BMO Alto - 3.60% APY
  • Bread Savings - 4.30% APY
  • BrioDirect - 4.30% APY
  • Capital One - 3.60% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.25-3.75% APY
  • CIBC Bank USA - 4.11% APY
  • CIT Bank - 0.25-4.00% APY
  • Citibank - 3.60% APY
  • Citizens Access™ - 3.70% APY
  • Colorado Federal Savings Bank - 4.25% APY
  • ConnectOne Bank - 4.00% APY
  • Customers Bank - 4.23% APY
  • Discover Bank - 3.60% APY
  • E*TRADE from Morgan Stanley - 4.00% APY
  • EverBank - 4.30% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
  • Flagstar Bank - 4.00% APY
  • Forbright Bank - 4.25% APY
  • FVCbank - 4.35% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.40-4.40% APY
  • Live Oak Bank - 4.10% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • My Banking Direct - 4.30% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.30% APY
  • Peak Bank - 4.44% APY
  • Pibank - 4.60% APY
  • PNC - 3.95% APY
  • Poppy Bank - 4.25% APY
  • Popular Direct - 4.05% APY
  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
  • Primis Bank - 4.35% APY
  • Quontic Bank - 3.85% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.65% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.26% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
  • Western Alliance Bank - 4.30% APY
  • Zynlo Bank - 4.35% APY
FeatureAmerican ExpressSelect a bank...
ProductHigh Yield Savings AccountN/A
APY
3.60% (as of 6/20/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A

Bank-to-Bank Comparisons

Compare American Express' APY of 3.60% with other banks
Bank PairBest APYMin Deposit
American Express vs Ally Bank3.50%$0
American Express vs Axos Bank4.66%$0
American Express vs Bank of America0.01%$100
American Express vs Barclays4.10%$0
American Express vs Capital One3.60%$0
American Express vs Chase Bank0.01%$0
American Express vs Chime3.75%$0
American Express vs CIT Bank4.00%$100
American Express vs Discover Bank3.60%$0
American Express vs Fitness Bank5.00%$100
American Express vs Marcus by Goldman Sachs3.65%$0
American Express vs SoFi Bank3.80%$0
American Express vs Synchrony Bank3.80%$0
American Express vs Varo Bank5.00%$0