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American Express CD rates review

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American Express CD
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1-year APY
3-year APY
5-year APY

Get high APYs, but only three terms are competitive.'s rating: 3.7 / 5.0


American Express CDs offer competitive rates on specific terms, earning the highest rates on 11 months. You can even open the account with $0 on hand, though you’ll need to fund it within 30 days of getting approved. American Express CDs are best if you’re looking for a combination of high rates and no opening deposit and longer term rates.

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Star rate 4.3
6-month APY 0.10%
11-month APY 5.00%
1-year APY 4.25%
18-month APY 1.00%
2-year APY 4.75%
3-year APY 1.15%
4-year APY 1.20%
5-year APY 3.00%
Early withdrawal penalty 90 days interest for terms of 1 to 11 months
270 days interest for terms of 12 to 47 months
365 days interest for terms of 48 to 59 months
540 days interest for terms of 60 + months
Minimum deposit to open $0
Interest compounding Daily

Overview of American Express certificate rates

While American Express offers its highest rate on five-year CDs, you can lock in competitive, fixed rates on terms shorter than five years.

CD termAPYMinimum deposit
6 months0.1%$0
11 months5%$0
1 year4.25%$0
18 months1%$0
2 years4.75%$0
3 years1.15%$0
4 years1.2%$0
5 years3%$0

More about American Express CDs

Get the rundown about key details of American Express CDs before you open an account.

Type of detailDetailsHow it compares to the market
Minimum opening deposit$0This is much lower than most CDs. Many CDs like those from Chase require at least $1,000 to open.
Term range6 months to 5 yearsOther banks offer terms shorter than 6 months.
CompoundingDailyMost CDs compound on a daily basis.
Early withdrawal penalties
  • 1- to 11-month terms: 90 days’ interest
  • 12- to 47-month terms: 270 days’ interest
  • 48 to 59-month terms: 365 days’ interest
  • 60-month terms or longer: 540 days’ interest
Higher early withdrawal penalties than competitors. For example, Capital One charges 6 months’ interest on terms of 12+ months.
Grace period10 daysTypical of most CD, including Capital One and Chase
How to cash out

Call customer service at 800-446-6307 before the maturity date or submit a written notice within the grace period.

You can also choose to get interest paid out via monthly bank transfers or by check monthly, quarterly or annually. But doing so will negatively affect the APY.

Most banks require you to contact them about withdrawing your cash.
How to roll overYour funds roll over automatically, unless you contact the bank.Most CDs roll over automatically.

How American Express’s interest rates compare

American Express’s CD APYs are surprisingly competitive for a major bank with rates as high as 5% APY. You also won’t have to meet a minimum dollar amount to open a CD.

However, you’ll have to stick to the standard 11 months, one- and two-year terms to get the best rates. To put the compound interest in perspective, compare your earnings across different American Express CDs.

TermAmount depositedAPYEarnings after one yearTotal interest earned
1 year$1,0004.25%$42.50$42.50
2 years$1,0004.75%$42.50$86.81
3 years$1,0001.15%$11.50$34.90
5 years$1,0003%$30.00$159.27

Other accounts like Synchrony Bank or Marcus by Goldman Sachs give competitive interest on less common terms of six, nine or 18 months. For example, both Marcus and Synchrony offer a 2.00% APY for their six-month CDs.

Overall, Amex is a great choice if you’re looking for a longer term CD, but you’ll get the highest rates when you stick to its one, two or five-year terms. If you’re not sure that an American Express CD is for you, check out these top CDs available with high interest.

Compare American Express to competitors’ CD rates

Choose Compare to see up to four CD accounts side by side, checking out their APYs and minimum deposits to find the right fit for you.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Pacific Western 7-Month High Yield CD through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Pacific Western 7-Month High Yield CD through Raisin
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
Earn competitive rates up to 5.35% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
Get 5.51% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
Discover CDs
Finder Rating: 3.8 / 5: ★★★★★
Discover CDs
Start saving with $2,500 and enjoy flexible terms from 3 months to 10 years with no account fees. FDIC insured

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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