Compound Interest Calculator
Savings Account from American Express Bank, FSB with 4.00% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from American Express Bank, FSB with 4.00% 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 $29,605. The interest earned would be $9,605 and the tax amount on the interest earned would be approximately $2,881.

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
$6,404 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
American Express Bank, FSB Interest Earned $6,723

 

 

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:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

American Express Bank, FSB Scenario

Rate:
4.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 800 560
2 20,800 832 582
3 21,632 865 606
4 22,497 900 630
5 23,397 936 655
6 24,333 973 681
7 25,306 1,012 709
8 26,319 1,053 737
9 27,371 1,095 766
10 28,466 1,139 797
TOTAL: $9,605 $6,723

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
October 28, 2024 4.00%
October 3, 2024 4.10%
May 13, 2024 4.25%
April 22, 2024 4.30%
December 15, 2023 4.35%
October 3, 2023 4.30%
August 30, 2023 4.25%
August 20, 2023 4.15%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.

Last change: ↓0.50% on October 1.



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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