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American Express CD rates

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American Express National Bank provides several options for certificates of deposit (CDs) that require no minimum deposit and come with a 24/7 customer service line. CD term lengths range from six months to five years. During the CD term, interest compounds daily, allowing you to consistently watch your money grow over time.

With an American Express CD, customers can either withdraw interest payments penalty-free or keep returns in the account to continue earning interest. But withdrawing interest payments reduces the APY, since the starting rate assumes interest payments are kept in the account until the maturity date.

As is typical for CDs, withdrawing the principal before the term ends incurs a penalty.

Other banks offer higher CD interest rates, but AmEx CDs still make Bankrate’s list of the best CDs for forgoing a minimum deposit and offering 24/7 customer service. Bankrate gives American Express National Bank 4.6 out of 5 stars in its overall bank rating, and a score of 3.9 for its CDs.

American Express CD Rates

An AmEx CD is a straightforward way to lock in a fixed interest rate for your savings. Here are the terms offered by American Express National Bank.

Account name Term APY Minimum deposit
CD 6 months 0.10% $0
CD 1 year 3.00% $0
CD 18 months 1.00% $0
CD 2 years 3.05% $0
CD 3 years 1.15% $0
CD 4 years 1.20% $0
CD 5 years 3.10% $0

Note: Annual percent yields (APYs) shown are as of Oct. 6, 2022, and may vary by region.

How American Express compares to top-yielding banks

AmEx 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.

Bank 1-Year APY Minimum to open
Capital One 3.25% $0
Synchrony Bank 3.15% $0
Barclays 3.05% $0
Marcus by Goldman Sachs 3.00% $500
Discover Bank 3.00% $2,500

Note: Annual percent yields (APYs) shown are as of Oct. 6, 2022, and may vary by region.

Other savings options at American Express

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. The High-Yield Savings Account also allows up to nine withdrawals and/or transfers each statement cycle, more than many competitors, but it doesn’t offer ATM access.

American Express National Bank began offering a checking account in February. But only AmEx customers with a personal account for at least three months can open a checking account.

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.