RateAPY

Earn 1.30% APY with American Express High-Yield Savings Account

Posted by: RateAPY Bank Rates News
June 11th, 2010

Accumulating savings is one of the biggest challenges for most Americans, yet one of the most important steps to financial security. Most financial experts recommend the direct deposit system of having a set amount of money transferred from your checking account to a savings account weekly, bi-weekly or monthly in order to slowly yet steadily create an emergency savings fund or save for a specific goal.

Besides making regularly scheduled deposits, the next step to increasing your savings is to compare savings accounts to find one with the highest interest rate, lowest fees and access to your funds if you need them.

High Interest Rate with Amex Savings Account

The American Express High-Yield Savings Account, currently at 1.29% interest (1.30% APY), is an FDIC-insured account that offers accountholders 24-hour access to their account information by phone or online. Interest is compounded daily and credited monthly to the account, and accountholders are allowed six free withdrawals per calendar month. Most important, the account does not require any minimum balance and no fees are charged for opening or maintaining the account.