American Express has rolled out Personal Savings from American
Express, a new line of Certificates of Deposit and high-yield
savings accounts. The push is part of a year-old campaign to gather
retail deposits in the US, with a stated goal to raise over $50
billion over the next five years (see RBI 609).
The Personal Savings deposit accounts feature competitive rates,
no monthly fees, no minimum balances and 24/7 account access via
web or phone.
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Products include high-yield savings accounts
with an annual percentage yield of 1.85 percent; and Certificates
of Deposit available in a range of maturities from three months to
five years.
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