American Express Debuts It’s Online Personal Savings & CDs Accounts

On June 1st American Express launched their first range of deposit holding products that don’t involve signing up for a credit card.  Coming out of the gate with a High-Yield Savings account and an assortment of CDs ranging in terms from 3 to 60 months, American Express is seeing to it that their rates were competitive.  With a 2.00% APY for their savings, they are neck and neck with other competitive banks such as Ally at 2.05% APY.

Reveiwing their CDs, we can see a continued trend in competive rates – especially when you start comparing terms of 24 months or higher.  The best feature of all these accounts is that there is no minimum deposit.  FDIC ensured, American Express looks to be a very aggressive contender within the bank rate vertical.

To review American Express products please visit American Express bank profile here.

About the banks

 

American Express Bank, FSB

American Express Bank, FSB is an FDIC-insured bank that is a member of the American Express family. Our goal is to provide you with the same quality of service you have come to expect from American Express. In fact, customers don’t need to be an existing Cardmember to open a Personal Savings account. Featuring 24/7 account access via web or phone, Personal Savings from American Express offers competitive rates, simple products and FDIC insurance all under a trusted name.

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