American Express CD rates

Here's a look at the CD terms offered by American Express National Bank.

Note: Annual percentage yields (APYs) were last updated between March 23 and March 29 and may vary by region.

These rates are competitive in today's market, particularly for the 11-month and 2-year terms. The lack of a minimum deposit requirement makes these CDs accessible to savers of all levels.

American Express CD features

• Minimum deposit requirements: American Express CDs stand out for requiring no minimum deposit to open. The lack of a minimum is particularly beneficial for beginners or those who want to test the waters with a small deposit.
• Early withdrawal penalties: American Express charges penalties for withdrawing principal before a CD matures. The early withdrawal penalties vary by term.
• Interest details: Interest on American Express CDs compounds daily, which maximizes your earnings by calculating interest on both your principal and previously accrued interest each day. You can choose to have interest disbursed monthly, quarterly, or annually to another account, or leave it in the CD to compound until maturity.
• CD renewal: American Express CDs automatically renew at maturity for the same term at the current rate, unless you specify otherwise. The bank offers a 10-day grace period after maturity during which you can withdraw funds, add funds or change the term without penalty.
• FDIC insurance: Like all American Express deposit accounts, CDs are FDIC insured up to $250,000 per depositor, per ownership category.

American Express CD rates are below some other banks that offer top-earning CDs. Some online banks, such as Marcus by Goldman Sachs, also offer no-penalty CDs that allow you to withdraw the principal balance without a fee, while AmEx doesn’t offer them.

AmEx accounts do have the advantage of no minimum deposit, while Marcus requires at least $500 to open a CD. This gives American Express an edge for savers who want to start with a smaller investment.

American Express National Bank offers more than just certificates of deposit to park your savings. Its High-Yield Savings Account offers greater flexibility and has no fees or minimum balance requirement, but it doesn’t offer ATM access.

American Express National Bank began offering a checking account available to AmEx customers with an issued U.S. Basic Consumer Card for over 35 days. The account offers no minimum balance requirements, no monthly fees and access to a network of fee-free ATMs.

American Express National Bank is an online-only bank, so it may not be a fit for those who value branch banking. Account holders can, however, reach American Express customer support 24 hours a day.