American Express vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
American Express
High Yield Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppShow Fine Print & Trends Hide Details
American Express
High Yield Savings Account
Synchrony Bank
High Yield Savings
3.65%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Synchrony Bank
High Yield Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing American Express vs. Synchrony Bank
Why American Express?
No distinct advantages found vs Synchrony Bank.
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 3.40%) on all balances
- ✓Higher rated Android app (4.5 vs 3.6)
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $365 vs $340/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $913 vs $850/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $25 more interest on a $10,000 balance than American Express's High Yield Savings Account.
Executive Summary
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.65%, making it the clear winner among the two banks. This account provides better returns compared to American Express's High Yield Savings Account, which has an APY of 3.40%. Synchrony Bank's account is notable for its simplicity, as it has no minimum deposit requirements, maintenance fees, or direct deposit stipulations. Both banks offer online-only accounts with daily compounding, but Synchrony Bank's higher APY makes it the preferable choice for savers.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both American Express and Synchrony Bank.
| Feature | American Express | Synchrony Bank |
|---|---|---|
| APY | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change | 3.65% Verified: 12/6/2025 ↘︎ 0.15%90d Change |
| Product Name | High Yield Savings Account | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android3.6 | iOS4.8 Android4.5 |
| BBB Rating | F | Not Rated |
| Next Steps |
Savings Comparison
Synchrony Bank earns $159.2 more than American Express.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$2,209.70(10.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,209.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Synchrony Bank |
|---|---|---|
| High Yield Savings Account | High Yield Savings | |
Current APY | 3.40% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.3 | -3.4 |
Days Since Change | 10 | 18 |
10-Month High | 3.80% | 4.10% |
10-Month Low | 3.40% | 3.65% |
Adjustments / Mo | 0.38 | 0.28 |
Volatility Score | 0.030 | 0.031 |
How to read these metrics(Click to expand)
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