American Express CD review

American Express offers CDs from American Express National Bank with terms up to five years, no minimum balance and no monthly fees. Interest compounds daily and is credited monthly, and support is available 24/7 by phone. Opening is three steps: apply and verify your identity, register online, then fund by linking an external bank, which can take up to two days, or by mailing a check. The rules are strict once you are in. American Express does not allow partial withdrawals, so taking any money out early means withdrawing the full amount and closing the CD, and it warns that early withdrawal penalties could cause you to lose some principal. You can add or withdraw funds only during a 10 calendar-day grace period after maturity. The CD page did not display current APYs when we checked, and American Express says the rate is disclosed in your account-opening documents, so we scored value conservatively.

Who it is for

American Express customers who want 24/7 service

Price

No monthly fees and no minimum balance; APY disclosed at account opening.

Enjoy no minimum balance and no monthly fees
Quoted from the vendor pricing page on November 13, 2026.

Key features

• CD terms from months up to five years
• No minimum balance and no monthly fees
• Interest compounds daily and is credited monthly
• 24/7 customer support by phone
• 10 calendar-day grace period at maturity to add or withdraw funds

Strengths and weaknesses

• Strength: No minimum balance to open
• Strength: 24/7 customer service
• Strength: Funds can be added during the 10-day grace period after maturity
• Weakness: The CD page does not show current APYs
• Weakness: No partial withdrawals; you must withdraw the full amount and close the CD
• Weakness: Early withdrawal penalties could cost some principal

Key facts

• Terms: Up to five years
• Minimum deposit: None
• Compounding: Daily, credited monthly
• Support: 24/7 by phone

Where it ranks

American Express CD is No. 9 in our Best CD Rates verdict.