American Express certificates of deposit (CDs) rates are competitive with the best CD rates. While it’s best known for its credit cards, American Express has a selection of personal bank accounts, including a solid collection of CDs. It operates completely online and is Federal Deposit Insurance Corp. (FDIC)-insured.
All rates and fees are current as of August 13, 2024, and are subject to change.
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More details on American Express CD rates and products
American Express offers many popular credit cards, but it also provides a high-yield savings account and a selection of CDs. While it does not offer any CDs with special features, such as no-penalty CDs, it has a solid set of traditional terms with attractive interest rates.
Standard CDs
American Express offers seven CD terms, ranging from 11 months to five years, with competitive interest rates. There is no minimum deposit to get started, and interest compounds daily.
The CD will be renewed automatically unless you request otherwise. You can give renewal instructions before the maturity date and up to 10 days after maturity.
As with most CDs, there is an early withdrawal penalty if you take your funds out of the CD before the end of the term. If the penalty is more than the accrued interest to date, the remainder will be withdrawn from the principal. You cannot make partial withdrawals. If you wish to withdraw funds, you must close the CD.
American Express standard CD features
| Minimum opening deposit | $0 |
| Early withdrawal penalty for terms less than 12 months | 90 days' interest |
| Early withdrawal penalty for terms between 12 months and 4 years | 270 days' interest |
| Early withdrawal penalty for terms between 4 and 5 years | 365 days' interest |
| Early withdrawal penalty for terms longer than 5 years | 540 days interest |
Individual Retirement Account (IRA) CDs
American Express also offers IRA CDs that can be opened inside of a traditional or Roth IRA. There are six terms ranging from one to five years with competitive interest rates and no minimum balance.
Early withdrawal rates will apply if you withdraw the funds before the term ends.
American Express IRA CDs
| Term length | APY | Minimum deposit |
|---|---|---|
| 12 months | 4.35% | $0 |
| 18 months | 3.25% | $0 |
| 24 months | 4.00% | $0 |
| 36 months | 3.00% | $0 |
| 48 months | 3.00% | $0 |
| 60 months | 3.00% | $0 |
| 12 months | |
|---|---|
| APY | 4.35% |
| Minimum deposit | $0 |
| 18 months | |
| APY | 3.25% |
| Minimum deposit | $0 |
| 24 months | |
| APY | 4.00% |
| Minimum deposit | $0 |
| 36 months | |
| APY | 3.00% |
| Minimum deposit | $0 |
| 48 months | |
| APY | 3.00% |
| Minimum deposit | $0 |
| 60 months | |
| APY | 3.00% |
| Minimum deposit | $0 |
American Express IRA CD features
| Minimum opening deposit | $0 |
| Early withdrawal penalty for terms less than 12 months | 90 days' interest on the amount withdrawn |
| Early withdrawal penalty for terms between 12 months and 4 years | 270 days' interest on the amount withdrawn |
| Early withdrawal penalty for terms between 4 and 5 years | 365 days' interest on the amount withdrawn |
| Early withdrawal penalty for terms longer than 5 years | 540 days' interest on the amount withdrawn |
Compare American Express to top competitors
Amex offers competitive CDs, but it isn't the only bank in the market. Discover and Capital One also offer CDs with slightly higher rates, especially on longer-term CDs.
 American Express |  Discover |  Capital One |
|---|---|---|
| 6 months | 6 months | 6 months |
| N/A | 4.25% | 4.25% |
| 12 months | 12 months | 12 months |
| 4.35% | 4.70% | 5.00% |
| 18 months | 18 months | 18 months |
| 3.25% | 4.40% | 4.45% |
| 24 months | 24 months | 24 months |
| N/A | 4.00% | 4.00% |
| 36 months | 36 months | 36 months |
| 3.00% | 3.75% | 4.00% |
| Learn more | Learn more | Learn more |
| Read our review of American Express | See more Discover CD rates | See more Capital One CD rates |
Learn more about American Express
American Express is famous for its credit cards, but it also offers some attractive banking options. In addition to CDs, it offers a checking account, high-yield savings, and personal loans. It also has a selection of business bank accounts.
Founded in 1850, American Express is FDIC-insured and operates completely online. The mobile app gets 3.9 stars on Google Play and 4.9 on the App Store. Customer service reports are mostly positive. However, some say it's gone downhill recently. This fits with the J.D. Power survey, where American Express ranked third in overall satisfaction in 2023 but fell below average in 2024.
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EDITORIAL DISCLOSURE: The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.
