American Express National Bank's savings rate is a strong annual percentage yield of 3.20% for its American Express® High Yield Savings Account*. It’s not the highest rate available but it is consistently good. The account has made our best high-yield savings account list for years.
American Express National Bank as a whole earns good ratings from the Nerds for its 24/7 customer service, excellent checking account and lack of monthly fees.
*American Express says: 3.20% Annual Percentage Yield (APY) as advertised is accurate as of 10/15/2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.
How American Express’ savings rate compares to other banks
American Express’ high-yield savings rate of 3.20% APY is extra competitive when compared to the national average of 0.37%.
Compared to online banks that also offer excellent checking accounts, American Express’ savings rate is competitive with some, but trails others.
Capital One: 3.10% APY
SoFi: 3.30% APY
E*TRADE by Morgan Stanley: 3.75% APY
American Express’ savings account interest rate lags behind banks that offer savings accounts, but no checking accounts.
Peak Bank: 4.27% APY
Openbank: 4.00% APY
Bread Savings: 4.05% APY
American Express savings rate, fees and features
APY | 3.20%. |
Requirements to earn the APY | None. You earn that rate on all balances. |
Monthly fee | $0. |
Minimum opening deposit | $0. |
Savings features | None. This account doesn’t come with any special savings features like being able to separate your savings by named goals. |
Funding options |
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Withdrawal options |
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Same-day transfers available? |
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Is the American Express savings account right for you?
This account works well if you:
Want the benefit of knowing your savings account will earn a rate that’s competitive, though usually not the best one out there.
Don’t need to make cash deposits or withdraw cash from your savings.
Don’t need to make international wire transfers.
Are interested in opening up an American Express Rewards Checking account, too. Opening the savings account is one of the ways you can qualify to open the bank’s checking account, which earns high marks from NerdWallet. It’s one of our picks for the best checking accounts.
Don’t need to open this account for a trust (though you can re-title your savings account into a revocable living trust).
Calculate what you can earn at American Express
Use our savings interest calculator to see what your savings could earn at American Express versus other banks.
Investment details
$0.00
Other savings accounts at American Express to consider
American Express National Bank doesn’t have a money market account, but it does have certificates of deposit. AmEx often has at least one or two competitive CD terms that make our best CD rates list. It also has a lot of other terms that are above the national average but not competitive.
