American Express Bank, the banking arm of the credit card company American Express, is still offering one of the best bank savings account rates avaiable right now. The rate on the Amex savings account is slightly better than the rates on Discover Bank and Zions Bank savings account.

The High Yeild Savings Account from American Express currently has a rate of 1.29 percent and a yield of 1.30 percent. That rate is more than 5 times the current savings account rate of 0.25 percent as reported by MonitorBankRates.com and Informars.com.

As with any savings account, the interest rate on the Amex account is a variable rate. This means the rate can change at any time, unlike a certificate of deposit account that has a fixed rate for the duration of the term. If you’re looking for a fixed rate, Amex Bank is also offering a 12 month CD rate and yield at 0.90 percent, though we would recommend sticking with the savings account since the yield is 40 basis points higher and interest rates should be heading higher this year.