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.
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.
Rate: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
---|---|---|---|
1 | 20,000 | 45 | 32 |
2 | 20,045 | 45 | 32 |
3 | 20,090 | 45 | 32 |
4 | 20,135 | 45 | 32 |
5 | 20,181 | 45 | 32 |
6 | 20,226 | 46 | 32 |
7 | 20,272 | 46 | 32 |
8 | 20,317 | 46 | 32 |
9 | 20,363 | 46 | 32 |
10 | 20,409 | 46 | 32 |
TOTAL: | $455 | $318 |
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 |
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.
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% |
ONLINE BANKS | APY? | MIN? | ||
---|---|---|---|---|
|
5.00% |
$50,000 |
Learn More | |
Last change: ↑0.25% on October 28. |
||||
|
5.00% |
$500 |
Learn More | |
Last change: ↑3.00% on August 7. |
||||
|
4.91% |
$25,000 |
Learn More | |
Last change: ↓0.09% on October 17. |
||||
|
4.90% |
$10,000 |
Learn More | |
Last change: ↓0.15% on September 6. |
||||
|
4.90% |
$500 |
Learn More | |
Last change: ↓0.05% on September 27. |
Customer Reviews for American Express Bank, FSB (11)
Chris
August 31, 2022
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.
Is this review helpful? Yes:2 / No: 0
Rebecca01
August 3, 2020 | | Replies 1
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).
Is this review helpful? Yes:5 / No: 1
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.
deedale
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.
Is this review helpful? Yes:4 / No: 0
Marc P. R.
May 24, 2017 | | Replies 2
Not such great CD rates from a company that has completely lost its edge.
Is this review helpful? Yes:6 / No: 0
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.
Jesse Elderovian
January 27, 2017 |
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.
Is this review helpful? Yes:5 / No: 1
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