American Express vs. Synchrony Bank
Comparing American Express and Synchrony Bank for high-yield savings: American Express's High Yield Savings Account pays 3.30% APY while Synchrony Bank's High Yield Savings pays 3.50% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Synchrony Bank pays $20 more than American Express annually ($350 vs $330).
Choose American Express if you want Zelle for quick transfers. Choose Synchrony Bank if getting the best rate matters most, or you're an Android user.
| Metric | American ExpressHigh Yield Savings Account Mar 7, 2026 | Synchrony BankHigh Yield Savings Mar 7, 2026 |
|---|---|---|
| APY | 3.30% | 3.50% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing American Express vs. Synchrony Bank
Executive Summary
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.50%, making it the clear winner compared to American Express, which has an APY of 3.30%. Both banks provide online-only accounts with no minimum deposit, balance requirements, or maintenance fees. Synchrony Bank's product is noted for its simplicity, as it does not require direct deposit or bundling, and it yields better returns on various deposit amounts. American Express also has a High Yield Savings Account, but with a slightly lower APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why American Express?
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
- ✓Higher potential APY (3.50% vs 3.30%) 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. $350 vs $330/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $825/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $20 more interest on a $10,000 balance than American Express's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
American Express vs. Synchrony Bank Savings Calculator
You earn $20 more with Synchrony Bank than American Express on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $329 per year in interest.
Both American Express and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | American Express | Synchrony Bank |
|---|---|---|
| APY | 3.30% Verified: 3/7/2026 ↘︎ 0.10%90d Change | 3.50% Verified: 3/7/2026 ↘︎ 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 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Not Supported |
| BBB Rating | F | Not Rated |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Synchrony Bank |
|---|---|---|
| High Yield Savings Account | High Yield Savings | |
Current APY | 3.30% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -4.1 |
Days Since Change | 67 | 39 |
12-Month High | 3.70% | 4.00% |
12-Month Low | 3.30% | 3.50% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.038 | 0.042 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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