American Express Savings Account Rate 1.14%

American Express Bank, the banking arm of the credit card company American Express is offering an online savings account rate at 1.14 percent with an online savings account yield of 1.15 percent. The bank's current savings rate is almost five times the current national average savings rate of 0.24 percent as reported by Monitor Bank Rates.

Opening an online savings account at American Express Bank is easy and quick. You can start the process here: Open a Savings Account.

Some of the benefits of the High-Yield savings account include no fees and no minimum balance to earn the savings rate and yield. Accounts are also insured by the Federal Deposit Insurance Corporation up to $250,000. You can make deposits into the account by electronic transfer or by sending a check in by mail. You can link up to three external accounts to transfer money in and out of the Amex savings account. Interest is compounded daily and credited to your account monthly.

For more information about the American Express High Yield Savings Account and to open an account go to Amex Savings Account.