I want to talk about the American Express High Yield Savings account which comes with a competitive APY of 3.60% with no minimum deposit requirement.
This account is best suited for individuals seeking better returns as compared to traditional savings accounts because it offers higher interest rates, retention of your funds, easy and flexible access, and the ability to grow your money.
Key Points & American Express High Yield Savings
| High Yield Savings Account | 3.60% | N/A |
| 11‑Month CD | 3.50% | 11 months |
| 12‑Month (1‑Year) CD | 3.50% | 12 months |
| 14‑Month CD | 4.00% | 14 months |
| 18‑Month CD | 3.85% | 18 months |
| 22‑Month CD | 4.00% | 22 months |
| 24‑Month (2‑Year) CD | 3.85% | 24 months |
| 36‑Month (3‑Year) CD | 3.60% | 36 months |
| 48‑Month (4‑Year) CD | 3.60% | 48 months |
| 60‑Month (5‑Year) CD | 3.75% | 60 months |
10 American Express High Yield Savings
1. American Express® High Yield Savings Account – 3.60% APY, no minimum deposit
Having a portion of your funds earning interest is a prudent approach to wealth management, and the American Express® High Yield Savings Account match this with them offering 3.60% APY.
With no monthly maintenance charges, there are no minimum deposit barriers for new clients. The account carries a variable interest rate, and as such, the APY may fluctuate over time.
In particular, this account is excellent for individuals that want to access their funds any time without losing interest unlike other standard savings accounts.—
High Yield Savings Account – 3.60% APY
- Type: Savings account (not a CD)
- Interest Rate: 3.60% APY (Annual Percentage Yield)
- Rate Type: Variable (can change over time)
- Minimum Deposit: None
- Liquidity: High (you can access funds anytime)
- Ideal for: Emergency funds or flexible savings
2. 11-Month CD – 3.50% APY, no minimum deposit
The 11-month American Express CD has a competitive rate of 3.50% APY, and is particularly attractive as it requires no minimum deposit. This CD benefits those who need higher interest in comparison to savings accounts and prefer to have their funds accessible in under a year.
The rate remains unchanged throughout the term, ensuring absolute certainty on yields during the entire period. Like all CDs, there are penalties for early withdrawals, making this product best for funds that can be locked away until maturity. This is an ideal option for risk-averse investors looking to build savings.
11‑Month CD – 3.50% APY
- Duration: 11 months
- Rate: 3.50% APY (fixed)
- Initial Requirement: None
- Withdrawal Restrictions: Locked until maturity but can be withdrawn early
- Return Certainty: Guaranteed return if held to term
3. 12-Month (1-Year) CD – 3.50% APY, no deposit required
The 12-month CD has a 3.50% APY and no minimum deposit. This is a great option for more conservative investors who wish to access fixed, short-term growth.
For these savers, the one-year timeframe is ideal as it provides more yield than a savings account without too much duration-lock on the funds.
The interest is compounded daily and credited on a monthly basis, which gives additional certainty regarding the funds.
Growth is, however, guaranteed with no volatility risk. Like other American Express CDs, these funds are FDIC insured. These offer safety and stability that many customers desire.
12‑Month (1-Year) CD – 3.50% APY
- Duration: 12 months
- Rate: 3.50% APY
- Initial Requirement: None
- Short description: Great for achieving a specific, short-term savings target, with reliable interest earnings.
4. 14-Month CD – 4.00% APY, no minimum deposit
The 14-month CD is particularly attractive because it has an APY of 4.00% with no minimum deposit required. This is one of the American Express short-term CDs with the highest yield.
It represents a wonderful opportunity for market risk-averse savers to strengthen their earnings potential in a little over a year.
Participants benefit from the fully fixed rate and stable, predictable earnings, with daily interest compounding.
The term length, while slightly unconventional, may blend well with particular scenarios or timelines. It works very well for those who need that time to earn a strong market beating return.
14‑Month CD – 4.00% APY
- Duration: 14 months
- Rate: 4.00% APY
- Description: Provides a greater return than the 1-year CD for a slightly longer commitment
- Initial Requirement: None
5. 18 Month CD – 3.85% APY, No Minimum Deposit
The 18-month CD is a good investment for those looking for a combination of a medium-term commitment and strong returns, as its APY is 3.85%. This product’s accessibility is enhanced by having no minimum deposit.
The stability of interest over the 1.5-year period enhances reliability, making it ideal for those with defined, medium-term objectives. Daily compounding and FDIC insurance further improve returns and security, respectively.
Ideal customers are individuals with medium-term goals who are willing to forgo funds until maturity in exchange for higher returns than what savings accounts or shorter-term CDs offer. Remember, early penalties apply to all CD accounts.
18‑Month CD – 3.85% APY
- Term: 18 months
- Rate: 3.85% APY
- Advantage: Higher yield with moderate commitment
- Flexibility: Shorter than 2 years but with strong returns
6. 22 Month CD – 4.00% APY, no minimum deposit
The 22-month CD comes with an impressive 4.00% APY, one of the top rates available from American Express. Because there is no minimum deposit, this CD is accessible to all types of savers.
It is best suited to individuals who have moderate financial objectives and are willing to set aside funds for just under two years.
The competitor rate is fixed for the duration of the investment, which eliminates the market risks associated with possible future interest rate declines.
This investment also compounds daily, increasing the overall profit, and is FDIC insured. Although the 22 month duration is longer than most standard durations, it complements one of the highest APYs offered in the product suite.
22‑Month CD – 4.00% APY
- Term: 22 months
- Rate: 4.00% APY (among the highest offered)
- Best For: Mid-range savers looking for top yield
- No Minimum: Keeps it accessible
7. 24 Month CD – 3.85% APY, No Minimum Deposit Required
This 24-month CD is attractive to consumers because it holds a 3.85% APY with no minimum deposit. Customers who want to grow savings over the two years will appreciate this product.
This fixed-rate CD is perfect for users with medium-term savings goals and guarantees earnings in interest income regardless of market conditions.
Customers will enjoy daily compounding interest payments and the account is insured with the FDIC. This CD is a good investment for users looking to grow their funds without accessing them until the investment matures.
The two-year term offers a reasonable period for accessing the funds while still guaranteeing solid growth.
24‑Month (2‑Year) CD – 3.85% APY
- Term: 2 years
- Rate: 3.85% APY
- Use Case: Medium-term goals with slightly lower risk
8. 36-Month (3-Year) CD – 3.60% APY, no minimum deposit
The 36-month CD caters to those looking to save over a longer period given its 3.60% APY and no minimum deposit requirement. The interest rate is fixed for the entire term of three years, ensuring consistent returns regardless of market shifts.
While the CD rate is identical to that of the high-yield savings account, the CD’s structure helps encourage long-term commitment due to early withdrawal penalties. As such, this product is better suited for those with longer-term aspirations.
The returns are low-risk daily compounded interest, credited on a monthly basis, offering steady growth during the investment period.
36‑Month (3‑Year) CD – 3.60% APY
- Term: 3 years
- Rate: 3.60% APY
- Purpose: Long-term savings with predictable growth
- Stability: Good if interest rates stay flat or drop
9. 48‑Month (4‑Year) CD – 3.60% APY, no minimum deposit
With the 48-month CD, investors can enjoy a fixed 3.60% APY and no minimum deposit, making it ideal for long-term savers. While the APY is the same as the 3-year CD and high-yield savings account, its longer-term predictability of returns provides added value.
This product works well for those who will be able to set aside the funds for four years. The investment is FDIC insured, and interest compounds daily.
Though not the highest rate offered, this option provides steady and reliable growth for those looking to protect and slowly build their savings.
48‑Month (4‑Year) CD – 3.60% APY
- Term: 4 years
- Rate: 3.60% APY
- Benefit: Lock in decent returns for longer goals
- Best For: Planning for college, relocation, etc.
10. 60 Month (5 Year) CD Accounts – 3.75% APY, no minimum deposit required
The 60-month CD is a long-term investment option offering a 3.75% APY with no minimum deposit. For those able to set aside funds for five years, this CD offers the best yield among American Express CDs.
It is excellent for users saving for a long time, like future tuition fees or retirement. Growth is steady and safeguarded from market volatility due to the fixed rate. Interest is compounded daily and paid monthly.
The deposit is also FDIC insured, adding security. Best suited for individuals who do not need to withdraw the funds early and are willing to commit for a duration in exchange for a strong return.
60‑Month (5‑Year) CD – 3.75% APY
- Term: 5 years
- Rate: 3.75% APY
- Long-Term Play: Best suited for those who won’t need access for years
- Compounding: Greater benefit with time
FAQ
What is the current APY for the American Express High Yield Savings account?
The APY is competitive and varies based on market conditions. You can check the current rate on the American Express National Bank website.
Is there a minimum balance required to open the account?
No. There is no minimum balance required to open or maintain the account. You earn interest on any amount deposited.
Are there any monthly maintenance fees?
No. The account has no monthly fees, helping you grow your savings without hidden charges.
