American Express Launches Online Savings Accounts

American Express has launched an online savings and certificate of deposit product that, while competitive, isn’t the best in the market. It’s part of their new Personal Savings From American Express product and the yields aren’t too shabby. They are offering a high yield savings account at 2.00% APY and a 24-month certificate of deposit for 2.40% APY. The 12-month is only 1.75% APY.

The bank is, as you would expect, FDIC insured and neither have a minimum balance requirement.