American Express vs. Synchrony Bank
American Express's High Yield Savings Account pays 3.00% APY while Synchrony Bank's High Yield Savings pays 3.30% 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 $30 more than American Express annually ($330 vs $300).
Choose American Express if you want Zelle for quick transfers. Choose Synchrony Bank if getting the best rate matters most.
| Metric | American ExpressHigh Yield Savings Account Sep 11, 2026 | Synchrony BankHigh Yield Savings Sep 11, 2026 |
|---|---|---|
| APY | 3.00% | 3.30% |
Earns in a year | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing American Express vs. Synchrony Bank
Executive Summary
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.30%, making it the leading option between the two banks. This account is available online only and does not require a checking account or direct deposit. In contrast, American Express provides a High Yield Savings Account with a lower APY of 3.00%. While both accounts have no minimum balance requirements and no maintenance fees, Synchrony Bank's higher yield translates to better returns, especially for larger deposits. Overall, Synchrony Bank is the preferred choice for savers looking for higher interest rates.
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?
- No checking account or direct deposit required
- Fast transfers via Zelle®
Why Synchrony Bank?
- Higher potential APY (3.30% vs 3.00%) on all balances
Key Feature Differences
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $330 vs $300/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $825 vs $750/yr).
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $30 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 $30 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+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $295 a year in interest.
Both American Express and Synchrony Bank advertise far more than that typical branch-bank rate.
| Feature | American Express | Synchrony Bank |
|---|---|---|
| APY | 3.00% Observed: 9/11/2026 0.10%90-day change | 3.30% Observed: 9/11/2026 0.10%90-day 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 |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 1 (UT) | 2 (FL, UT) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA 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 | 3.00% | 3.30% |
Trend | Stable | Stable |
Speed of change | -0.05 | -0.05 |
Days Since Change | 63 | 85 |
12-Month High | 3.50% | 3.80% |
12-Month Low | 3.00% | 3.30% |
Changes per month | 0.41 | 0.33 |
Steadiness | 0.030 | 0.028 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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High Rates (With Checking Bundle)
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