American Express: Savings Accounts & Rates

Savings rates updated: 8/18/2025

Mission statement: Banksparency aims to make American Express' savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

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

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Savings Overview

High Yield Savings Account: 3.50% APY(Rank 69 out of 81 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 7/21/2025)

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

Deposit Insurance: FDIC Cert # 27471

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 3.50%, competitive for high-yield savings accounts.
No minimum deposit or balance requirements.
No maintenance fees, making it cost-effective.
High App Store rating of 4.9.

Considerations

BBB rating of F, indicating trustworthiness concerns.
Not BBB Accredited, which may deter some customers.
Online-only bank with no physical branches.
Google Play rating of 3.8, lower than App Store rating.

Summary: American Express offers a High Yield Savings Account with a competitive APY of 3.50%, though it has dropped from 3.60% in the last 30 days. There are no minimum deposit or balance requirements, and no maintenance fees. However, the bank has an F rating from the BBB and is not accredited, which raises trust issues. Additionally, it operates online only, lacking physical branches.

Savings Account: In-Depth View

Savings Account Offered by American Express

Feature	High Yield Savings Account
APY	3.50% (as of 8/18/2025)
APY Trend	-0.10% MoM
Minimum Deposit	$0
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for American Express

All calculations are based on APY.

Savings Product:

High Yield Savings Account (APY: 3.50%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,363.3 (8.87%)
Total contributions: $13,000 (84.62%)
Initial deposit: $1,000 (6.51%)

Your total balance

$15,363.30

Effective APY: 3.50% (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

Metric	High Yield Savings Account
Latest APY	3.50 %
Trend	Sideways
Slope (bps/mo)	-4.2
Rate Changes / Mo	0.43
Days Since Last Change	26
High (-7 m)	3.80 %
Low (-7 m)	3.50 %
Draw-down from High	-7.9 %
Volatility (CV)	0.024

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 7 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 (-7 m): Highest APY in the last 208 days.
Low (-7 m): Lowest APY in the last 208 days.
Draw-down from High: How far today sits below the 7-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
Ameriprise Bank - 3.15-3.15% APY
Axos Bank - 4.46% 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 - 3.50% APY
Bread Savings - 4.25% APY
BrioDirect - 4.30% APY
Capital One - 3.50% 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 - 4.02% APY
CIT Bank - 0.25-4.00% APY
Citibank - 3.50% APY
Citizens Access™ - 3.50% APY
Colorado Federal Savings Bank - 4.15% APY
ConnectOne Bank - 4.00% APY
Customers Bank - 4.23% APY
Discover Bank - 3.50% APY
Elevault - 4.60% 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 - 4.85% APY
Flagstar Bank - 4.00% APY
FNBO Direct - 3.25% APY
Forbright Bank - 4.25% APY
FVCbank - 4.35% APY
GO2bank - 4.50% APY
High Plains Bank - 0.23-3.82% APY
Jenius Bank - 4.20% APY
LendingClub - 3.20-4.20% 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 - 4.20% APY
Peak Bank - 4.35% 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 - 4.20% APY
Quontic Bank - 3.75% APY
RBMAX - 4.15% APY
Rising Bank - 4.30% APY
ROGER - 4.12% 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 - 4.15% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 3.05% APY
TIMBR - 4.40% APY
UFB Direct - 4.01-4.21% APY
Upgrade - 4.02% APY
Valley Direct - 4.30% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.30% APY
Zynlo Bank - 4.35% APY

Feature	American Express	Select a bank...
Product	High Yield Savings Account	N/A
APY	3.50% (as of 8/18/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$0	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A

Bank-to-Bank Comparisons

Compare American Express' APY of 3.50% with other banks

Bank Pair	Best APY	Min Deposit
American Express vs Ally Bank	3.50%	$0
American Express vs Axos Bank	4.46%	$0
American Express vs Bank of America	0.01%	$100
American Express vs Barclays	4.10%	$0
American Express vs Capital One	3.50%	$0
American Express vs Chase Bank	0.01%	$0
American Express vs Chime	3.75%	$0
American Express vs CIT Bank	4.00%	$100
American Express vs Discover Bank	3.50%	$0
American Express vs Fitness Bank	4.85%	$100
American Express vs Marcus by Goldman Sachs	3.65%	$0
American Express vs Presidential Bank	4.50%	$5,000
American Express vs SoFi Bank	3.80%	$0
American Express vs Synchrony Bank	3.80%	$0
American Express vs UFB Direct	4.21%	$5000
American Express vs Varo Bank	5.00%	$0
American Express vs Wells Fargo	2.51%	$25