Rates checked November 12, 2026
American Express CD vs savings account
American Express's 5-year CD pays 4.50% APY, against 3.20% on its savings account. Over the term that is about $756 more on $10,000, in exchange for locking the money up.
Each CD term against savings
| Term | CD APY | Savings APY | CD earns extra |
|---|---|---|---|
| 12-month | 3.75% | 3.20% | $55 |
| 18-month | 3.75% | 3.20% | $84 |
| 2-year | 3.75% | 3.20% | $114 |
| 3-year | 3.75% | 3.20% | $177 |
| 5-year | 4.50% | 3.20% | $756 |
Extra interest over the full term on $10,000, before taxes. The savings figure assumes today's rate stays the same the whole time; a savings rate can change, a CD rate cannot. It ignores early withdrawal penalties.
Questions
Should I use a American Express CD or its savings account?
The CD pays more. Its best term, 5-year, earns 4.50% against 3.20% in savings, about $756 more over the term on $10,000. The catch is that the money is locked up, and taking it out early costs a penalty.
What is American Express's savings rate compared with its CDs?
American Express's savings account pays 3.20% APY. Its CDs pay 3.75% to 4.50% depending on the term.
Can the savings rate change after I open the account?
Yes. A savings rate can go up or down at any time. A CD rate is fixed for the whole term. The savings figures on this page assume today's rate stays the same, so treat them as a snapshot, not a promise.
General information only. Rates change often; confirm the rate, minimum deposit and early withdrawal penalty with the bank before you open a CD. SwitchWize is not a bank and does not give financial advice.