Amex Cd Rates
American Express High Yield CD - 4 Yr. APY -4 Yr.: 0.50%. They offer interest rates similar to high-yield savings accounts and certificate of deposit rates, but they also give you a debit card. You’ll find solid CD rates for some of the terms offered by American Express, the highest capping out at 0.55% APY (annual percentage yield) as of 9/3/2020 for a 60-month term.
© baranq/Shutterstock A man looks at a computer.American Express Bank gives its customers several options for choosing a certificate of deposit (CD) with terms from six months up to five years. The bank doesn't require a minimum deposit to open a CD, giving you the opportunity to choose exactly how much you put into your account. Interest compounds daily, allowing you to efficiently watch your money grow over time.
American Express gives you the option to either withdraw interest payments penalty-free or keep your profits in the account to continue earning interest. Withdrawing interest payments will, however, cause your APY to be lower since your starting rate assumes you will keep your interest payments in the account until the maturity date.
While other banks offer higher CD interest rates, American Express CDs still make our list of the best CDs for offering no minimum deposit and accessible customer service. Bankrate gives American Express Bank four stars out of five in its overall bank rating.
American Express CD Rates
An Amex CD is a straightforward way to lock in a fixed interest rate for your savings. Let's take a closer look at what American Express Bank offers.
| Account name | Term | APY | Minimum deposit |
| CD | 6 months | 0.10% | $0 |
| CD | 12 months | 0.20% | $0 |
| CD | 18 months | 0.30% | $0 |
| CD | 24 months | 0.40% | $0 |
| CD | 36 months | 0.45% | $0 |
| CD | 48 months | 0.50% | $0 |
| CD | 60 months | 0.55% | $0 |
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Note: The APY (annual percentage yield) shown is as of Jan. 4, 2021. The APY may vary in region.
How American Express compares to top-yielding banks
Amex CD rates are far below those of other banks with top-earning CDs - especially for accounts with terms less than three years. Marcus by Goldman Sachs, for example, offers a much higher rate on its 12-month CD.
American Express does offer accounts with no minimum deposit, while Marcus requires at least $500 to open an account. But Ally Bank, among others, also offers no minimum deposit with much higher interest rates. Other CD terms tell the same story - American Express CD rates don't reach those of the best certificates of deposit.
Other savings options at American Express
American Express Bank offers more than just certificates of deposit to hold your savings. If you want more flexibility for adding and withdrawing funds, the American Express high-yield savings account with no fees and no minimum account balance. Amex allows up to nine withdrawals from high yield savings each statement cycle.
Because American Express doesn't offer a checking account or issue debit cards or checks for its high-yield savings account, you'll have to transfer funds to another bank to make a withdrawal. The bank is completely online, so you won't be able to visit a physical branch. You can, however, reach American Express customer support 24 hours a day.
Featured image by baranq of Shutterstock.
Available nationwide, American Express has a large range of products for your specific needs. They currently offer standard CD rates for a 6 to 60-month term. By joining American Express you will be able to take advantage of incredible CD rates that will earn you a higher interest rates than a regular savings account. All for no minimum balance!
Amex Savings Cd Rates
Currently, they are offering a wide array of CD rates! CDs are great if you want to lock in a rate for a one-time deposit so if you are interested in opening one with American Express, don’t hesitate to join and open a CD today!
| CIT BANK CD TERM | RATE | LINK |
| 12-Month Term | 0.30% APY | Apply Now |
| 13-Month Term | 0.35% APY | Apply Now |
| 18-Month Term | 0.30% APY | Apply Now |
| 4-Year Term | 0.50% APY | Apply Now |
Table of Contents
American Express CDs
CDs are a certificate issued by a bank to a person depositing money for a specified length of time and usually the longer of a term is – the higher APY rate you make! American Express wants to make you feel supported and helps put you in control of your hard earned funds. If you’re interested in making a higher rate than a traditional savings account then make sure to check out below CD rates.
CD Features
- No minimum balance requirement
- Interest credited monthly
- Earn compounding interest until maturity
- Federally Insured by the FDIC
Bottom Line
If you are interested in a short term or long term CD, then American Express might be the one for you offering great CD Rates! Best of all, there is no minimum balance requirement so just pick your CD term and watch your money grow.
You can also be rest assured that American Express is federally insured up to $250,000 by the FDIC. Sign up for a CD with American Express today to enjoy their great CD rates. If you are not interested or eligible, then check out our full list of Best CD Rates here at HMB!
Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.