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American Express® High Yield Savings Account
By: Conor Keenan Last updated April 18, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal, CNN, Fox News, MSN & Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
Annual Percentage Yield (APY)
3.70% APY
APY as of April 18, 2025
On American Express National Bank's
Secure Site, Member FDIC
Best For: Competitive APY From An Online Bank
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
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:
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. It’s nearly 10x higher the National Savings Rate Average* of 0.41% APY.
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:
The American Express® App 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 mobile device or computer. This makes it easy to stay on top of your savings and ensure that you are making the most of your money.
Open Your New Account with American Express National Bank Now
American Express® High Yield Savings Account: 3.70% APY as of April 18, 2025
APY
3.70%
Annual Percentage Yield (APY)
- High Yield Savings Account
- Min. to Earn APY: $0
- Min. to Open: $0
- 3.70% APY
- APY as of April 18, 2025
- Interest Compounded Daily
- $0 Monthly Fees
- 24/7 Customer Service
- FDIC Insured up to $250,000
- Backed by the Service & Reliability of American Express
- Terms Apply
- See Site for Details
On American Express National Bank's Secure Site, Member FDIC
Customers Also Viewed These High Yield Savings Accounts:
Best For: Welcome Bonus With Qualifying Deposits
Discover Bank offers 3.70% APY with no monthly fees and $0 initial deposit.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Whereas other banks may charge you a fee for certain services, Discover won't charge you a fee on any of the following items: monthly maintenance, official bank check, expedited delivery for official bank checks, deposited item returned, stop payment order, insufficient funds, or for closing your account.
For a limited time, Discover Bank is also offering a bonus for qualifying deposits on your first Discover Online Savings Account.
You can earn a $150 bonus when you deposit at least $15,000 or a $200 bonus when you deposit at least $25,000 within 45 days of account open date. Terms apply.ⓘ
Bonus Promo Code: CA325
You must open your account by 9/11/2025 to be eligible for the bonus.
This account is insured by the FDIC for up to $250,000 per depositor and Discover also boasts 100% U.S.-based Customer Service Available 24/7.
If you're looking for a competitive APY with "No. Fees. Period." and a nice welcome bonus, then this account is for you.
See Discover Bank's Secure Site For More Details.
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CA325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.
3.66% APY
On Raisin's Secure Site for
RBMAX, FDIC Insured
Best For: High APY Rates
RBMAX, Republic Bank's digital banking service, offers a high yield savings account with 3.66% APY exclusively through the Raisin Platform.
Raisin is a SOC 2 certified platform, meaning it has been validated by outside auditors across five (5) key information security principles.
Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.
In addition to this high APY, RBMAX offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.
Republic Bank was founded in 1982, was recently announced as one of America's best online lenders by Newsweek & now has over $6 billion in assets.
See Raisin's Secure Site for RBMAX For More Details.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
American Express® High Yield Savings Account: 3.70% APY as of April 18, 2025
Discover® Bank Online Savings Account: 3.70% APY - Earn up to $200 with Promo Code: CA325
RBMAX High Yield Savings Account: 3.66% APY
*National Savings Rate Average as published by FDIC