American Express Certificate of Deposit
Disciplined savers who want a guaranteed fixed return and zero fees.
Anyone needing flexible access to funds or real-time rate transparency before applying.
Without a disclosed APY on this page — and with VERIFIED_APY unavailable — this American Express CD can't be rate-ranked against the category average or positioned relative to the current Fed Funds Rate of 3.63%. That's a meaningful gap: the top-tier CDs in our database currently sit well above the category average, and knowing where Amex lands on that spectrum matters before you lock money away. What the page does confirm is structurally appealing: no monthly fees, no minimum balance, daily compounding with monthly crediting, and a rate-lock mechanism that grants you whichever rate is higher — at application or at funding. That last feature is genuinely useful in a volatile rate environment. The early withdrawal penalty is flagged as potentially principal-reducing, which is more severe language than most issuers use and warrants careful review of the account agreement before committing. Until specific APYs by term are verified, this CD is difficult to recommend over competitors whose rates are fully transparent upfront. Check back on SwitchWize for updated verified rates before opening.
Confirm the rate and term are still available. Review the early-withdrawal penalty in the fee schedule — it can erase months of interest.
Jun 10, 2026
SwitchWize Research Desk · methodology
- No monthly maintenance fee
- FDIC insured up to $250,000
| Term | APY |
|---|---|
| 1 year | 3.25% |
| 1.5 years | 3.00% |
| 2 years | 3.00% |
| 3 years | 2.25% |
| 5 years | 3.00% |
Apply online in minutes — American Express verifies your identity and sends a confirmation email. Register your online account, then fund it by linking an external bank (allow up to two days) or mailing a check. Account must be funded within 60 days of approval.
Without a disclosed APY on this page — and with VERIFIED_APY unavailable — this American Express CD can't be rate-ranked against the category average or positioned relative to the current Fed Funds Rate of 3.63%. That's a meaningful gap: the top-tier CDs in our database currently sit well above the category average, and knowing where Amex lands on that spectrum matters before you lock money away. What the page does confirm is structurally appealing: no monthly fees, no minimum balance, daily compounding with monthly crediting, and a rate-lock mechanism that grants you whichever rate is higher — at application or at funding. That last feature is genuinely useful in a volatile rate environment. The early withdrawal penalty is flagged as potentially principal-reducing, which is more severe language than most issuers use and warrants careful review of the account agreement before committing. Until specific APYs by term are verified, this CD is difficult to recommend over competitors whose rates are fully transparent upfront. Check back on SwitchWize for updated verified rates before opening.
What happens if I withdraw from a CD early?
Most CDs charge an early-withdrawal penalty — typically 60 to 150 days of interest depending on the term. Breaking a 12-month CD at month 3 with a 90-day penalty can reduce your effective yield to near zero. Always read the fee schedule before opening.
Is a CD FDIC insured?
Yes. Certificates of deposit at FDIC-member banks are insured up to $250,000 per depositor. The fixed rate and FDIC coverage make CDs one of the safest places to hold cash you can afford to leave untouched for the full term.
What is a CD ladder?
A CD ladder splits your savings across multiple CDs with staggered maturities — for example, 3-month, 6-month, and 12-month terms. As each CD matures, you reinvest at the current rate, giving you the higher rates of longer terms and regular access to a portion of your cash.
Can the CD rate change after I open it?
No. The APY on a standard CD is locked at the opening rate for the full term. This is the main advantage over a high-yield savings account: you know exactly what you will earn, regardless of future Fed rate cuts.
Rates are sourced from Bankrate and verified by SwitchWize. SwitchWize may earn a referral fee when you click through to a partner. Content is for informational purposes only and does not constitute financial advice. Verify current rates directly with the institution before opening an account.