Home > Savings Rates > American Express Bank 2% APY Online Savings Account

American Express Bank 2% APY Online Savings Account

June 16th, 2009

Earlier this month American Express launched stand-alone savings products and their savings account is now offering a competitive 2% APY. Their also offering competitive rates on their long-term CDs including a 2.5% APY 2 year CD, a 3% APY 3 year certificate of deposit and a 3.40% APY 5 year CD.

These accounts are available nationwide and there’s no minimum balance on the savings account or the CDs. It looks like the no-minimum CDs Ally Bank has been offering are catching on. You can also fund all accounts by ACH transfer. Another bonus is that they don’t do a hard credit pulls when you open an account.

The early withdrawal penalty on the CDs is 90 days’ interest for terms 1 year and under, and 180 day’s interest for terms over a year.

American Express Bank has a 3 out of 5 star soundness rating from bankrate and is FDIC insured. They also have small business checking options for those interested.

Savings Rates

  1. Virginia Baldwin
    July 29th, 2009 at 08:28 | #1

    How can I open a small personal savings account wi Amex?

  2. Daniel W. whitmore
    October 27th, 2009 at 15:15 | #2

    Do you have a way to open an acct. or do you just keep alluding to it?

  1. No trackbacks yet.