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  American Express National Bank Certificate of Deposit

American Express National Bank Certificate of Deposit

in CD Accounts from American Express National Bank · fdic

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American Express National Bank Certificate of Deposit

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in CD Accounts from American Express National Bank · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $0
Certificate Term
  • 6 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
APY (Annual Percentage Yield) 0.10% - 0.55%

American Express National Bank Certificate of Deposit Review

American Express National Bank Certificate of Deposit is offered by American Express National Bank, a bank founded in 1850 and based in New York, NY. American Express National Bank Certificate of Deposit is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. American Express CD only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.55%, which is much higher than the national average for a CD account.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • Wide selection of CD terms. American Express CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of American Express National Bank Certificate of Deposit
Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
American Express National Bank Certificate of Deposit FAQ

Are cd accounts from American Express National Bank federally insured?

Yes, your American Express National Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27471). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does American Express National Bank offer?

American Express CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does American Express National Bank offer on its CDs?

American Express CD offers an APY starting at 0.10% and ranging up to 0.55%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does American Express CD offer?

American Express National Bank offers CD terms of the following lengths:
American Express National Bank Certificate of Deposit Rates & Terms
Description
2-Year APY 0.40%
3-Year APY 0.45%
4-Year APY 0.50%
5-Year APY 0.55%
6-Month APY 0.10%
12-Month APY 0.20%
APY (Annual Percentage Yield) 0.10% - 0.55%

What is the minimum deposit to open a CD account with American Express National Bank?

American Express CD does not require a minimum deposit.

What is the grace period for American Express CD?

There is a 10-day grace period for American Express CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does American Express CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

American Express National Bank does not charge an early withdrawal fee.

American Express National Bank Certificate of Deposit Disclosure: This review was prepared by SuperMoney in their personal capacity. The opinions expressed in this review are the author’s/company’s own and do not reflect the view of American Express National Bank nor American Express Company.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday 7:00am - 12:00pm
  • Monday 7:00am - 12:00pm
  • Tuesday 7:00am - 12:00pm
  • Wednesday 7:00am - 12:00pm
  • Thursday 7:00am - 12:00pm
  • Friday 7:00am - 12:00pm
  • Saturday 7:00am - 12:00pm

Other Services by American Express National Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

2-Year APY 0.40%
3-Year APY 0.45%
4-Year APY 0.50%
5-Year APY 0.55%
6-Month APY 0.10%
12-Month APY 0.20%
APY (Annual Percentage Yield) 0.10% - 0.55%
CD Accounts Traditional
Grace Period for Account Changes 10 days
Certificate Term
  • 6 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years

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