American Express CD Rates (2026): Up to 4.40% APY
American Express CDs suit savers who want a no-minimum CD from a large bank and plan to hold it to maturity. The one thing to know: the early withdrawal penalty is steep, 270 days of interest on any term from 12 to under 48 months, including the 12-month CD. The best rates were 4.40% APY on the 10- and 22-month terms, effective October 15, 2026 (checked October 19), for new CDs; fixed once opened.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against American Express's own CD rate page and deposit agreement (8 sources, listed below). We re-check prices about once a month. We do not earn a commission from American Express.
American Express at a glance
| CD APYs | 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% (effective October 15, 2026; for new CDs; fixed once opened) [2] |
|---|---|
| Minimum deposit | $0; fund within 60 days of approval [3] |
| Early withdrawal penalty | Initial term under 12 months: 90 days' interest; 12 to under 48 months: 270 days; 48 to under 60 months: 365 days; 60 months or more: 540 days (on the amount withdrawn) [3] |
| Add-on deposits | None after the opening deposit, until maturity [3] |
| Interest | Compounded daily, credited monthly; credited interest can be withdrawn without a penalty [1] |
| Grace period | 10 calendar days at maturity to add or withdraw funds; CDs set to renew do so automatically [1] |
| Transfer timing | Transfers started after 7:00 PM ET or on non-business days begin the next business day [6] |
| Checking at the same bank | American Express Rewards Checking, for eligible customers [7] |
| Customer service | 1-800-446-6307 for savings and CDs; 24/7 support [5] |
American Express in official federal data
Rate compared with the national average
American Express's 1-year CD APY of 3.65% (as of October 19, 2026) is about 2.1 times the FDIC's national average for 12-month CDs, 1.76% (as of October 19, 2026). On $10,000 kept for a year, that is about $365 in interest against $176 at the national average, before tax; a CD locks its rate for the term, while the national average is for CDs opened that month.
Who holds your money
- Deposits are held by American Express National Bank, FDIC certificate #27471, based in Sandy, UT, established March 20, 1989 according to the FDIC.
- FDIC insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category. Money held at the same bank under another brand name counts toward the same limit.
- Size: $172 billion in deposits and $214 billion in total assets (June 30, 2026 call report). Primary federal regulator: Office of the Comptroller of the Currency.
Customer complaints filed with the CFPB
From October 2025 through September 2026, consumers sent the Consumer Financial Protection Bureau 576 complaints about checking or savings accounts at AMERICAN EXPRESS COMPANY, about 3.36 per $1 billion of deposits; the company responded on time to 98.3%. Complaint counts grow with the number of customers and cover the whole company, including checking accounts, and the CFPB does not verify each complaint, so treat them as a rough signal. Read the complaints.
Sources: FDIC BankFind (certificate, deposits and assets), FDIC national deposit rates (October 19, 2026), CFPB Consumer Complaint Database (product "Checking or savings account"). Updated monthly.
How American Express works
American Express National Bank sells standard fixed-rate CDs from 10 to 60 months with no minimum deposit. Two odd terms carry the best rates: 10 months and 22 months both paid 4.40%, while the round terms in between paid 3.65% and the 3- and 4-year terms only 2.25%. You fund a CD once, within 60 days of approval, and cannot add to it before maturity. The federal data section on this page compares these rates with the FDIC national averages.
The penalty schedule, revised October 18, 2026, is the main reason to pick a term carefully. A 12-month CD falls in the 270-day band, not the 90-day one. A hypothetical: you open a $10,000 12-month CD at 3.65% APY and close it after 6 months. Using the APY as a simple interest rate, the penalty is $10,000 x 3.65% x 270 / 365 = $270.00. You would have earned only about $10,000 x 3.65% x 6 / 12 = $182.50, so the penalty eats all of it and about $87.50 of principal, leaving roughly $9,912.50. Amex applies the formula to the CD's interest rate, so the exact figure will differ slightly.
At maturity, a CD set to renew does so automatically, and you have a 10 calendar day grace period to add or withdraw without a penalty. If you might need the money before a term ends, a shorter term under 12 months keeps the penalty at 90 days; our CD ladder guide and CD calculator help plan maturities.
Pros
- No minimum deposit
- 4.40% APY on the 10- and 22-month terms
- Credited interest can be withdrawn without a penalty
- Customer support available 24/7
Cons
- 270-day penalty on a 12-month CD, and 540 days on 60 months or more
- 3- and 4-year CDs paid only 2.25%
- No term shorter than 10 months
- No no-penalty or bump-up CD in its rate list
Who American Express fits, and who should skip it
A good fit if
- You want a no-minimum CD from a large bank and can commit to a 10- or 22-month term.
- You already bank with American Express and want CDs and savings in one login.
- You are sure you will not need the money before maturity.
Limitations to know
- The 12 to under 48 month penalty is 270 days of interest, and the American Express FAQ page gives the same figure. [4]
- The penalty is figured on the withdrawn amount at the CD's rate and can reduce principal. [3]
- You must fund a CD within 60 days, and no more deposits are allowed before maturity. [3]
- Its rate list shows only standard terms; we could not confirm whether American Express offers IRA CDs. [2]
American Express compared with alternatives
| Bank | 6-month | 1-year | 3-year | 5-year | Minimum |
|---|---|---|---|---|---|
| American Express | n/a | 3.65% | 2.25% | 3.00% | $0 |
| Ally Bank | 3.85% | 4.30% | 4.10% | 4.25% | $0 |
| Barclays | 4.00% | 4.50% | 4.50% | 4.75% | $0 |
| Synchrony Bank | 4.10% | 4.20% | 4.40% | 4.50% | $0 |
| Marcus by Goldman Sachs | 3.95% | 4.40% | 4.40% | 4.40% | $500 |
- Pick Ally Bank if you want low penalties and no minimum.
- Pick Barclays if you want a top 2- or 5-year rate with no minimum.
- Pick Synchrony Bank if you want no minimum, a 6-month term and a no-penalty CD option.
- Pick Marcus by Goldman Sachs if you want a big-name bank with 4.40% from 1 to 6 years.
Security and privacy
- CDs are deposits of American Express National Bank, Member FDIC. [4]
- FDIC insurance covers up to $250,000 per depositor, per bank, per ownership category; CDs and savings at American Express National Bank count toward one limit for the same owner and category.
- Joint accounts are for two people with right of survivorship, a separate ownership category. [5]
Recent changes
| Date | What changed |
|---|---|
| Oct 18, 2026 | Savings Schedules revised; CD penalty table now 90, 270, 365 and 540 days by term. [3] |
| Oct 15, 2026 | 12-month APY rose from 3.50% to 3.65%; the featured 10-month rose from 4.25% to 4.40%, and a 22-month term at 4.40% was added. The 3- and 5-year rates were unchanged. [2] |
| Oct 19, 2026 | High Yield Savings APY at 3.20%, up from 3.00% in our September snapshot. [8] |
American Express FAQ
What is the penalty for withdrawing an American Express CD early?
Under its Savings Schedules revised October 18, 2026: 90 days' interest for an initial term under 12 months, 270 days for 12 to under 48 months, 365 days for 48 to under 60 months and 540 days for 60 months or more, on the amount withdrawn. A 12-month CD is in the 270-day band.
What are American Express CD rates today?
Effective October 15, 2026: 4.40% APY for 10 and 22 months; 3.65% for 11, 12, 14, 18 and 24 months; 2.25% for 36 and 48 months; and 3.00% for 60 months. Rates are for new CDs and fixed once opened.
Does American Express have a minimum for CDs?
No. There is no minimum deposit, but you must fund the CD within 60 days and cannot add to it before maturity.
Is American Express FDIC insured?
Yes. CDs are held at American Express National Bank, Member FDIC, and are insured up to $250,000 per depositor, per bank, per ownership category.
Does American Express have a 6-month CD?
No. Its shortest term is 10 months, which also paid one of its two best rates (4.40%).
How we researched this review
We did not get paid for this page. On October 19, 2026 we read American Express's own CD rate page, deposit account agreement and disclosures, quoted each fact and link every one below. FDIC and CFPB figures come straight from the agencies' public data. Penalty examples are our arithmetic on the bank's stated formula. CD rates for new accounts change often; we re-check them about once a month.
Sources
- American Express, CDs, checked October 19, 2026.
- American Express, CD rate feed used by its CD page, checked October 19, 2026.
- American Express National Bank, Savings Schedules (Rev. October 18, 2026), checked October 19, 2026.
- American Express, Early withdrawal from a CD (FAQ), checked October 19, 2026.
- American Express National Bank, Deposit account agreement (Rev. January 5, 2026), checked October 19, 2026.
- American Express, CD support, checked October 19, 2026.
- American Express, High Yield Savings Account, checked October 19, 2026.
- American Express, savings rate feed used by its savings page, checked October 19, 2026.
This review is for general information, not financial advice. CD rates for new accounts change often; the rate is fixed only once you open the CD. Confirm the current rate with the bank.