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American Express CDs charge no monthly account fee and require no minimum balance, but they are not fee-free to exit early: closing one before maturity can trigger a substantial interest penalty, and partial withdrawals are not allowed. They can suit a goal with a firm date if you can leave the full deposit untouched until then. Rates change, so treat any quoted APY as a dated snapshot and confirm your offer before funding.
What American Express CDs offer
American Express National Bank offers certificates of deposit with fixed rates after funding. The bank says the rate is set at the higher of the rate shown when you apply or the rate available when the CD is funded. You must fund an approved CD within 60 calendar days, and you cannot add money after it is opened. See American Express account terms.
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There is no required minimum balance to open the CD, avoid a monthly fee, or receive the disclosed APY. That does not mean you can withdraw money freely: the account has no partial withdrawals, and closing before maturity incurs a penalty.
American Express CD rates: a dated snapshot
YourBestSavings.com reported checking American Express’s site through October 7, 2026, and listed these APYs. They are historical reported figures, not a promise of what you will be offered now. View the rate tracker.
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| 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% |
The tracker described checks between September 30 and October 7, 2026. American Express’s retrieved page stated its advertised APY was accurate as of October 1, 2026; rates can change. Check the exact term and APY shown in your application and funding documents rather than relying on a rate list.
What does “no fees” mean?
The claim refers to the absence of a monthly account fee and a required minimum balance. It does not eliminate the early-closure penalty. If you close the CD before maturity, the bank’s published schedule applies according to the term:
Rank #2
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| CD term | Early-closure penalty |
|---|---|
| Under 12 months | 90 days’ interest |
| At least 12 but under 48 months | 270 days’ interest |
| At least 48 but under 60 months | 365 days’ interest |
| 60 months or more | 540 days’ interest |
If the penalty is greater than the interest accrued, the difference may be deducted from your principal. The bank says it may waive the penalty in certain circumstances, including an account holder’s death or incompetence. Review the issuer’s CD terms for the conditions that apply.
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Can you withdraw some of the money early?
No. American Express does not allow partial withdrawals. Accessing funds before maturity means closing the CD, which triggers the applicable penalty. That makes this a poor place for emergency savings or money tied to a goal date that might move. Keep funds you may need unexpectedly in an account designed for withdrawals, and only place the amount you can leave untouched into a CD.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How interest works
Interest compounds daily and is credited monthly. The bank offers interest payout options, such as transfer or check on its available schedules. APY assumes interest remains on deposit; taking interest out changes the effective return you earn compared with that assumption. Check the payout choices and terms when opening the account. American Express explains its interest terms.
How to decide whether this CD fits your goal
- Match the maturity date to the goal. Choose a term that ends before you need the money, allowing time for the maturity and transfer process.
- Compare the same term. Look at the APY available for that exact duration, not just the highest rate on a bank’s menu.
- Check the rate-lock point. American Express says the funded rate is the higher of the rate at application or at funding, and funding must occur within 60 calendar days of approval.
- Assess liquidity and penalties. Confirm that you can keep the entire deposit in place; partial withdrawals are not available.
- Compare alternatives on equivalent terms. If access matters, compare with a liquid savings account. For CDs, compare similar durations, early-withdrawal rules, and minimum opening deposits. American Express has no branch access, a consideration for people who prefer in-person banking. NerdWallet’s review provides additional account context.
Is the deposit insured?
American Express National Bank is a Member FDIC institution. The bank states that each depositor is insured to at least $250,000 per depositor, per insured bank, per ownership category. The ownership category and how deposits are held matter when assessing coverage; see the bank’s insurance information.
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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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