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American Express National Bank CD Rates for November 2022

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American Express National Bank CD rates may not be the highest, but these CDs are worth considering because they have no deposit requirements and no fees. You've probably heard about American Express credit cards, but if you want to build your savings, its CDs are worth a look. Read this review to learn more about American Express National Bank CD rates, how they stack up against the competition, and who should get an American Express National Bank CD.

American Express National Bank CD rates for November 2022

American Express National Bank CD
  • 1 Year APY: 4.00%
  • 2 Year APY: 4.10%
  • 3 Year APY: 1.15%
  • 4 Year APY: 1.20%
  • 5 Year APY: 4.25%
Rates as of Nov. 17, 2022
Term
American Express National Bank CD
1 Year
2 Year
3 Year
4 Year
5 Year
4.00%
4.10%
1.15%
1.20%
4.25%

Compare American Express National Bank CD rates

American Express National Bank CD rates are decent, but can sometimes be beat by others. You may find better rates at other online banks, especially for shorter term lengths. Compare CD rates below to find the right CD account for your needs.

Rates as of Nov. 17, 2022
Lender
Account
1 yr. apy
2 yr. apy
3 yr. apy
4 yr. apy
5 yr. apy
Min. deposit
Early Withdrawal Penalty
Next Steps
Logo for Discover High Yield CD
Member, FDIC
4.00%
4.10%
4.15%
4.20%
4.25%
$2,500
Yes
Logo for Marcus by Goldman Sachs High Yield CD
Member, FDIC
Marcus by Goldman Sachs High Yield CD
4.00%
4.25%
4.00%
4.00%
3.80%
$500
Yes
Logo for CIT Bank CD
Member, FDIC
0.30%
0.40%
0.40%
0.50%
0.50%
$1,000
Yes

American Express National Bank CD review

If you're saving up for a long-term goal, an American Express National Bank CD may be a good way to earn interest on those savings.

American Express National Bank CDs

PROS

  • No minimum deposit requirement
  • No fees
  • Wide range of terms

CONS

  • No mobile app

American Express National Bank CDs are some of the best CDs we've seen, although they are not at the top of the list. That doesn't mean you should avoid American Express National Bank CDs -- they have a wide range of terms, no monthly fees, and no minimum deposit requirements. That means American Express National Bank CDs are great if you don't have a lot of money to set aside long term or you're just starting to explore the world of CDs. 

Like most CDs, you'll end up paying a penalty for withdrawing your CD balance early, which can be up to 540 days' interest depending on the length of your CD. CDs renew automatically at maturity, but customers can opt out. Interest compounds daily. Then, it's paid out monthly via transfers to an American Express High Yield Savings Account or external bank account. Another option is to receive interest by check on a monthly, quarterly, or annual basis. 

FAQs

  • American Express National Bank CDs are an excellent fit for people who want an online CD that earns relatively high-yield interest and offers multiple term lengths without a minimum deposit requirement. They are also perfect for people who wish to maintain flexibility by building a CD ladder. 

  • You should get an American Express National Bank CD if you're looking for decent CD rates without the deposit requirements found with some banks.

  • An American Express National Bank CD is worth it if it's more important to you to avoid a minimum deposit requirement than earn the best rates. To maximize savings, you may want to search for better rates from other online banks.

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