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American Express CDs have no monthly account fee or required minimum balance, and their interest rate is fixed once the CD is funded. They may suit savers with a known goal date who can leave the full balance untouched; they are less suitable for emergency savings because partial withdrawals are not allowed and closing early triggers a penalty that can reduce principal.
What American Express CDs offer
American Express National Bank offers certificates of deposit (CDs) with fixed terms and a fixed rate after funding. There is no required minimum balance to open a CD, avoid a fee, or receive the disclosed annual percentage yield (APY), according to American Express’s CD terms.
“No fees” needs a qualification: the account has no monthly fee, but withdrawing the money before maturity by closing the CD incurs an early-withdrawal penalty. The account also does not allow partial withdrawals.
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Rates vary by term and can change. A rate tracker reporting checks against American Express’s site through October 7, 2026, listed these APYs. They are a dated snapshot, not a guarantee of what you will be offered now.
#1 Best Overall
| CD term | Reported APY |
|---|---|
| 10 months | 4.40% |
| 11 months | 3.65% |
| 12 months | 3.65% |
| 14 months | 3.65% |
| 18 months | 3.65% |
| 22 months | 4.40% |
| 24 months | 3.65% |
| 36 months | 2.25% |
| 48 months | 2.25% |
| 60 months | 3.00% |
These figures were reported by YourBestSavings.com based on checks through October 7, 2026. The issuer’s retrieved page stated that its advertised APY was accurate as of October 1, 2026; neither date makes the rates a current offer. Review the rate shown in your application and funding documents before committing.
How the rate is set and when to fund
American Express says the funded CD receives the higher of the rate shown at application or the rate offered when the CD is funded. Once funded, the rate is fixed for the term. The approved CD must be funded within 60 calendar days, and you cannot add deposits after opening it. See the issuer’s terms for the account rules.
What happens if you need the money early?
There are no partial withdrawals: accessing principal before maturity requires closing the CD. American Express’s published penalty schedule depends on the original term:
Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitches| CD term | Early-withdrawal penalty |
|---|---|
| Under 12 months | 90 days’ interest |
| At least 12 months but under 48 months | 270 days’ interest |
| At least 48 months but under 60 months | 365 days’ interest |
| 60 months or longer | 540 days’ interest |
If the penalty is greater than the interest accrued, the difference may be deducted from principal. The issuer says it may waive the penalty in certain circumstances, including the death or incompetence of an account holder. Consult the official terms for the complete conditions.
How interest is credited
Interest compounds daily and is credited monthly. American Express allows interest payouts by transfer or check on the schedules it offers. APY assumes interest remains on deposit; choosing payouts instead changes the effective rate earned over the term. See American Express’s interest information.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to decide whether this CD fits your goal
- Match the term to the date you need the money. Choose a maturity date that comes before the goal’s payment date, leaving time for access and transfer.
- Keep emergency money elsewhere. The no-partial-withdrawal rule and penalty make a CD a poor substitute for liquid savings if an unexpected expense could force early closure.
- Compare the same term and restrictions. Check the APY available on the day you apply, when the rate is locked, any opening minimum, monthly charges, and the early-withdrawal rules. A liquid savings account may be preferable when flexibility matters; compare other CDs on matching terms and access rules. NerdWallet’s review also notes that American Express has no branch access, relevant if in-person banking matters to you.
American Express National Bank is a Member FDIC institution. The bank says each depositor is insured to at least $250,000 per depositor, per insured bank, per ownership category. See the issuer’s account terms.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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