American Express certificate of deposit review 2023

Would you like to read a comprehensive review of the American Express certificate of deposit? Responsible Economy has conducted a thorough analysis of all its features, including the interest rate, terms, fees, and everything you need to know. We also provide a comparison of the best certificates of deposit in the United States in 2023, as well as an explanatory video. Welcome!

Explicative video

We have created a concise video that provides a simplified overview of the key features of the American Express certificate of deposit. If you find our content valuable, we encourage you to subscribe to our channel to support us and receive daily videos:

Features

In this section, we will provide a detailed overview of each characteristic:

Interest rate

The interest rate for the certificates of deposit is subject to variation based on the selected terms. Below, you will find a table showcasing the various terms and their corresponding interest rates:

TermsYields
12 months4.75% APY
18 months 1.00% APY
24 months 4.25% APY
36 months 1.15% APY
48 months 1.20% APY
60 months3.00% APY
Terms and rates

American Express Certificate of Deposit offers highly competitive interest rates. With interest rates currently being high in the United States, it presents a favorable opportunity to capitalize on.

Fees

It is crucial to consider any annual or monthly maintenance fees associated with a CD. The American Express CD, fortunately, does not have any maintenance fees and is free to open.

Minimum deposit

Unlike many other banks that require a minimum deposit to open a CD, American Express does not impose such a requirement.

Best certificate of deposit in 2023

We have compiled a ranking of the best certificates of deposit available for opening in the United States in 2023:

Logo capital One CDs
  • 5.25% APY
  • Minimum deposit: $0
  • Term: 18 months
  • Member FDIC
Marcus by Goldman Sachs
  • 5.10% APY
  • Minimum deposit: $500
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 5.00% APY
  • Minimum deposit: $1,000
  • Term: 6 months
  • Member FDIC
synchrony-bank-logo
  • 5.40% APY
  • Minimum deposit: $0
  • Term: 16 months
  • Member FDIC
Alliant Logo
  • 5.18% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 5.15% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 5.15% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 5.25% APY
  • Minimum deposit: $1,000
  • Term: 13 months
  • Member FDIC

Certificates of deposit calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

American Express certificate of deposit calculator

American Express certificate of deposit calculator

Your earnings:
Total Result:

Pros and cons

After reviewing all the features of the American Express certificate of deposit and comparing it with the best CDs available in the United States, we have compiled a table highlighting the advantages and disadvantages:

ProsCons
High interest rateThere are CDs with higher interest rates
No fees
No minimum deposit
Pros and cons American Express certificate of deposit

Requirements

To open the American Express certificate of deposit, you need to meet the following requirements:

  • Reside in the United States
  • Be at least 18 years old
  • Have a valid Social Security number
  • Hold an American bank account

Frequent questions

Frequently Asked Questions about the American Express Certificate of Deposit:

More information about American Express

Here is a table with information of interest about American Express:

InformationDescription
Websitehttps://www.americanexpress.com/
Twitterhttps://twitter.com/askamex
Facebookhttps://www.facebook.com/AmericanExpress
YouTubehttps://www.youtube.com/user/AmericanExpress
Interest information about American Express

Finally, we show you related content about certificates of deposit:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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