American Express: Savings Account & Rates
Mission: Banksparency aims to make American Express' savings account transparent and comparable to the market.
Analysis of American Express
Our verdict
American Express offers High Yield Savings Account, a high-yield savings account paying 3.30% APY with no minimum deposit.
At 3.30% APY, American Express pays 8x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.
Ideal User Profile
- Best for: simple saving without extra requirements, banking without needing a branch, and quick transfers with Zelle.
Key Differentiators
- Stands out with top-rated iOS app (4.9), Zelle for instant transfers.
Savings Overview
High Yield Savings Account
| Min. Deposit | $0 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.15% APY.
Bank Overview
- HQ LocationNew York, New York
- Founded1850
- AffiliationThe American Express Company (NYSE: AXP). Accounts offered by American Express National Bank.
- Ratings & Trust
- Zelle® SupportAvailableRequires Amex Rewards Checking; not available for standalone HYSA.
- Deposit InsuranceFDIC Insured(Cert: 27471)
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by American Express
| Feature | High Yield Savings Account |
|---|---|
APY | 3.30%Verified: 2/21/2026 |
APY Trend | Rate Adjusted -0.20% Since 90 days ago |
Min. Deposit | $0 |
Min. Balance | $0 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for American Express
Savings Breakdown
- Interest Earned+$1,282.10(8.4%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,282.10
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
Last 12 Months| Metric | High Yield Savings Account |
|---|---|
Latest APY | 3.30% |
Trend | Sideways |
Slope (bps/mo) | -3.6 |
Rate Changes / Mo | 0.33 |
Days Since Last Change | 53 |
High (-12m) | 3.70% |
Low (-12m) | 3.30% |
Draw-down | -10.8% |
Volatility (CV) | 0.038 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 365-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with American Express
| Feature | Current View American Express | Empty Slot |
|---|---|---|
| Product | High Yield Savings Account | - |
APY | 3.30%Verified: 2/21/2026 | - |
APY Trend | Rate Adjusted -0.20% Since 90 days ago | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare American Express' APY of 3.30% with other banks
Alternatives to American Express
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
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Presidential Bank
Advantage Savings: 3.75% APY
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Minimum Deposit: $5,000
Direct Deposit: To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.
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