American Express® High Yield Savings Account Review

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National Savings Rate Avg.*: 0.41%
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Read our review & open a new American Express savings account easily and quickly, typically in 5 minutes or less.

American Express National Bank, Member FDIC, offers a competitive Annual Percentage Yield (APY), an excellent customer service with no on-going monthly maintenance fees.

Open your account with confidence knowing your deposits are FDIC insured up to $250,000 per depositor and backed by the full faith and credit of the United States Government.

Annual Percentage Yield (APY)

3.70% APY

APY as of April 18, 2025

5.0

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American Express^® High Yield Savings Account

Best For: Competitive APY From An Online Bank

American Express is best known for their suite of incredibly rewarding credit cards. They also offer a high yield savings account with a competitive Annual Percentage Yield (APY) of 3.70% as of April 18, 2025.

Your interest compounds daily and is deposited in your account monthly.

Other benefits of this account include $0 monthly fees, 24/7 Customer Service, FDIC insurance up to $250,000 per depositor and the fact it's backed by the service & reliability of American Express, it's a no brainer as to why so many people are signing up.

To top it off, you can easily check balance and transaction history, deposit funds, and more within the American Express^® App.

See American Express National Bank's Secure Site For More Details.

Main Benefits You Get with American Express National Bank

The American Express^® High Yield Savings Account is a great option for anyone looking to save money and earn a high interest rate on their savings. With a strong reputation for excellent customer service and a user-friendly online platform, the American Express High Yield Savings Account makes it easy to manage your money and reach your savings goals.

Proven Track Record:

American Express has been helping customers for over 170 years. Founded in 1850, American Express focuses on customer relationships and believes “At American Express, the customer always comes first.”

They focus on providing excellent customer service, an incredible banking experience all while offering some of the most competitive interest rates on the market to their customers. One of the many reasons they have been serving customers for over 170 years.

Competitive APY:

One of the key benefits of the American Express High Yield Savings Account is the interest rate. As the name suggests, this account offers a high yield, which means you can earn a significant amount of interest on your savings. The exact interest rate offered may vary, but it is typically higher than the rates offered by many other savings accounts. This means that your money can grow faster, helping you to reach your savings goals more quickly.

American Express National Bank offers 3.70% Annual Percentage Yield (APY). APY as of April 18, 2025

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.

No monthly maintenance fee:

In addition to the high interest rate, the American Express High Yield Savings Account also offers a number of other features and benefits. For example, the account has no monthly maintenance fees, no minimum balance requirements, and no minimum deposit requirements. This means that you can open an account with as little money as you like and still earn the high interest rate. Think of it as savings your way.

FDIC insured:

American Express National Bank is federally insured by the Federal Deposit Insurance Corporation. This covers you for as much as $250,000 per depositor, per institution, in the very unlikely event of a bank failure. Think of it as an insurance policy that you don’t have to pay for.

Focus on Technology:

Another key benefit of the American Express High Yield Savings Account is the online platform. The online platform is easy to use and allows you to manage your account from anywhere with an internet connection. You can view your account balance, transfer funds, and set up automatic deposits, all from the convenience of your computer or mobile device. This makes it easy to stay on top of your savings and ensure that you are making the most of your money.

Overall, the American Express High Yield Savings Account is a great option for anyone looking to save money and earn a high interest rate on their savings. With no monthly maintenance fees, no minimum balance requirements, and a user-friendly online platform, this account makes it easy to manage your money and reach your savings goals. So if you’re looking to open a savings account, the American Express High Yield Savings Account is definitely worth considering.