Compound Interest Calculator
CD 3-year Account from American Express Bank, FSB with 3.00% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from American Express Bank, FSB with 3.00% APY and $0 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $26,878. The interest earned would be $6,878 and the tax amount on the interest earned would be approximately $2,063.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for American Express Bank, FSB

Savings Boost of
$3,727 over 10 years
Cash Savings $20,000
Average Interest Earned $1,088

 
American Express Bank, FSB Interest Earned $4,815

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,302 152 107
4 20,454 154 108
5 20,608 155 108
6 20,762 156 109
7 20,918 157 110
8 21,075 158 111
9 21,234 159 112
10 21,393 161 112
TOTAL: $1,554 $1,088

American Express Bank, FSB Scenario

Rate:
3.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 600 420
2 20,600 618 433
3 21,218 637 446
4 21,855 656 459
5 22,510 675 473
6 23,185 696 487
7 23,881 716 502
8 24,597 738 517
9 25,335 760 532
10 26,095 783 548
TOTAL: $6,878 $4,815

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
April 22, 2024 3.00%


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Customer Reviews for American Express Bank, FSB (11)


  • August 31, 2022

    Online Savings Rates

    never had a problem moving money in/out. After trying a couple banks with higher rates but less service will be moving my money back here.

  • August 3, 2020 | | Replies 1

    Online Savings Rates

    There is a lot to like about this account. American Express is a real organization and you are not playing with a bunch of amateurs like with a lot of these banks. However, they will be sure to lower the rate when others do. And, if you ever need to call for support (transfers, etc.) you can be sure that their call center reps will do everything possible to not be helpful (some of my experience may be due to the pandemic).

    Jason | Nov 19, 2021

    Real organization and all of that, but they lowered their rate to 0.40% last year and it has been stuck there. Not nice.

  • September 5, 2019 |

    I was very impressed with American express national bamk when I opened my first account with them.
    the representative who helped me open the account was knowledgable besides being efficient and courteous.
    these qualities are often difficult to find in todays banking employees.

  • May 24, 2017 | | Replies 2

    Online CDs 12 Month Rates

    Not such great CD rates from a company that has completely lost its edge.

    Fred | May 24, 2017

    I am in complete agreement with Jody.

    Jody | May 24, 2017

    I really don't care whether it has lost its edge. I will take a couple pennies less from a bank that is well recognized and provides outstanding customer service any day.

  • January 27, 2017 |

    Online Savings Rates

    I have been a customer since I first saw this bank advertised on this site in 2009. The rate is a little lower, but the service has always been excellent and very respectful. Nothing short of what you expect from Amex. Plus, I can now link the account to my credit card profile which is helpful.


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