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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Image by Getty Images; Illustration by Tiffany Herring November 10, 2022 Trevor Wallis David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. 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 , 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 4.8 out of 5 stars in its overall bank rating, and a score of 4.8 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 3.85% $0 CD 18 months 1.00% $0 CD 2 years 4.00% $0 CD 3 years 1.15% $0 CD 4 years 1.20% $0 CD 5 years 4.10% $0 Note: Annual percent yields (APYs) shown are as of Nov. 10, 2022, and may vary by region. How American Express compares to top-yielding banks
AmEx CD rates are below some other banks that offer . Some online banks, such as , also offer 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 Synchrony Bank 4.01% $0 Barclays 4.00% $0 Capital One 4.00% $0 Marcus by Goldman Sachs 4.00% $500 Discover Bank 4.00% $2,500 Note: Annual percent yields (APYs) shown are as of Nov. 10, 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 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 . 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. SHARE: Trevor Wallis David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Related Articles