American Express savings and CD rates
American Express advertises 3.10% APY on its High Yield Savings Account. That is 2.73 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #236 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #147. It was #91 three months ago. The bank has cut this rate 3 times in the last 12 months.
American Express at a glance
| Savings | |
|---|---|
| Top savings APY | 3.10% · High Yield Savings Account |
| Minimum to open | $0 · High Yield Savings Account |
| Against the national average | 2.73 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.40% · 22 months · 22-Month CD |
| Minimum to open | $0 · 22 months CD |
| FDIC certificate | 27471 · Sandy, UT |
|---|---|
| Website | www.americanexpress.com |
| Branches | 1 branch in UT |
| Availability | Nationally available |
American Express savings and CD rates
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
American Express CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 10 months | 4.40% | $0 | 10-Month CD |
| 11 months | 3.65% | $0 | 11-Month CD |
| 12 months | 3.65% | $0 | 12-Month CD |
| 14 months | 3.65% | $0 | 14-Month CD |
| 18 months | 3.65% | $0 | 18-Month CD |
| 22 months | 4.40% | $0 | 22-Month CD |
| 24 months | 3.65% | $0 | 24-Month CD |
| 36 months | 2.25% | $0 | 36-Month CD |
| 48 months | 2.25% | $0 | 48-Month CD |
| 60 months | 3.00% | $0 | 60-Month CD |
Interactive Tool
Calculate Savings for American Express
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,201.30(7.9%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,201.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What American Express pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, American Express paid a higher average rate on savings and money market deposits than 96% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- American Express, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| High Yield Savings Account | 3.10% | $0 | $0 | None | $0 | None | One rate |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 10-Month CD | 10 months | 4.40% | $0 | not stated | not stated |
| 11-Month CD | 11 months | 3.65% | $0 | not stated | not stated |
| 12-Month CD | 12 months | 3.65% | $0 | not stated | not stated |
| 14-Month CD | 14 months | 3.65% | $0 | not stated | not stated |
| 18-Month CD | 18 months | 3.65% | $0 | not stated | not stated |
| 22-Month CD | 22 months | 4.40% | $0 | not stated | not stated |
| 24-Month CD | 24 months | 3.65% | $0 | not stated | not stated |
| 36-Month CD | 36 months | 2.25% | $0 | not stated | not stated |
| 48-Month CD | 48 months | 2.25% | $0 | not stated | not stated |
| Fine print: Early withdrawal penalty: 365 days interest (CD terms of at least 48 months but less than 60 months). | |||||
| 60-Month CD | 60 months | 3.00% | $0 | not stated | not stated |
| Fine print: Early withdrawal penalty: 540 days interest (CD terms of 60 months or more). | |||||
Fine print for 2 CDs above: Early withdrawal penalty: 90 days interest (CD terms under 12 months).
Fine print for 6 CDs above: Early withdrawal penalty: 270 days interest (CD terms of at least 12 months but less than 48 months).
Every requirement above is explicit: no minimum, no fee, no direct deposit, no linked account (observed Oct 5, 2026).
Opening and using the account
| Availability | Nationally available |
|---|---|
| Footprint | 1 branch in UT |
| App Store rating | 4.9 out of 5 |
| Google Play rating | 4.8 out of 5 |
| Zelle | Available |
| Eligibility | not stated |
How American Express behaves over time
- 12-month high
- 3.50%
- 12-month low
- 3.00%
- Advertised now
- 3.10%
- 0.40 percentage points below the 12-month high
- Observed cuts, 12 months
- 3
- In a window with 2 Federal Reserve cuts
The advertised High Yield Savings Account rate, observed through Oct 5, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 30, 202614-Month CDRaise:3.50%to3.65%
- Obs. Sep 30, 202611-Month CDRaise:3.50%to3.65%
- Obs. Sep 30, 202612-Month CDRaise:3.50%to3.65%
- Obs. Sep 30, 202618-Month CDRaise:3.25%to3.65%
- Obs. Sep 30, 202622-Month CDRaise:4.00%to4.40%
- High Yield Savings Account
- Up 0.10 percentage points from 30 days ago.
- 22 months CD
- Up 0.40 percentage points from 7 days ago.
At the top advertised rates we observed for American Express' High Yield Savings Account, $10,000 would have grown to about $10,321 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $9,982 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- High Yield Savings Account APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
American Express CD rates over time
Who is American Express?
| Headquarters | Sandy, UT |
|---|---|
| Founded | 1850 |
| Scale | $213.9B assets · $171.6B deposits, $171.1B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 27471 |
| BBB rating | F · Not BBB Accredited |
| Affiliation | The American Express Company (NYSE: AXP). Accounts offered by American Express National Bank. |
| Charter state | Utah · one of 44 insured banks chartered there (Q2 2026, FDIC) |
| Size | 22nd-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 34% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What American Express pays on deposits above.
Common questions about American Express
Is American Express FDIC insured?
Yes. American Express is FDIC insured under certificate 27471, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at American Express?
American Express requires no minimum deposit to open its High Yield Savings Account, as observed on Oct 5, 2026. Check the bank's current terms before you open an account.
Does American Express have branches?
Yes. American Express operates 1 branch according to FDIC branch records, in addition to its website and mobile apps.
American Express against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| American Express | 3.10% | 3.21% | $0 | 1 branch in UT |
| Ally Bank | 3.10% | 3.03% | $0 | 1 branch in UT |
| Capital One | 3.10% | 2.91% | $0 | 252 branches across 9 states |
| ConnectOne Bank | 3.10% | 2.79% | $2,500 | 57 branches in FL, NJ, NY |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to American Express's.
Compare American Express with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
- American Express vs SoFi Bank
- American Express vs Capital One
- American Express vs Marcus by Goldman Sachs
- American Express vs Ally Bank
American Express last changed its rate on September 23, 2026, up 10 basis points. CIT Bank last changed its rate on February 4, 2026, also up 10 basis points.
American Express vs CIT BankAmerican Express last changed its rate on September 23, 2026, up 10 basis points. Barclays last changed its rate on June 24, 2026, down 10 basis points.
American Express vs Barclays
Compare American Express with another bank as a whole
These pages compare more than savings: checking, branches, the other products each bank sells, and their apps.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Utah, nearest to American Express in deposits:
Rate hubs: today's highest savings rates, and CD rates by term.