High Yield Savings
CDs
SupportWhat is a Maturity Date?
The Maturity Date is the date your Certificate of Deposit (CD) account is scheduled to be renewed or closed. See what happens when your American Express CD matures.
What to Know About Your American Express CD’s Maturity Date
If you have an American Express CD, you’ll want to be thinking about what you’ll do when your CD matures. If you’d like to withdraw or transfer the funds, you can opt to do so by letting us know during your CD’s term. Once your Maturity Date arrives, your CD will automatically renew unless you’ve told us otherwise or we are no longer offering a CD with the same term as your maturing CD.
Grace Period
If your CD automatically renews, you’ll have 10 calendar days (also known as the grace period) during which you can make a deposit or withdraw funds from your CD account without penalty. Note that if you give us instructions prior to the Maturity Date to add or withdraw funds from your CD at maturity, your CD will be renewed on the Maturity Date and there will not be a grace period.
How to Cash Out Your American Express CD
You may prevent automatic renewal if you follow the steps online to change your maturity option, call us prior to the Maturity Date to change your maturity option, or if we receive written notice from you before the Maturity Date. Note that a penalty may be imposed for a withdrawal of principal before the Maturity Date.
What to Do When a CD Matures
When a CD matures, you have a few options to consider, these include:
Withdraw the Funds
When the CD matures, you can choose to withdraw or transfer both the principal and any interest that you’ve earned.
Renew the CD
If you would like to renew your CD, you may be able to do so automatically. Some banks automatically renew your CD for the same term at the current interest rate unless you inform them otherwise. Be sure to check with your bank to see what their renewal process is.
Open Up Another CD
When your CD matures, you may also be able to put the money into a new CD, one with a different rate and term. Check to see which options are available before your CD’s maturity date and be sure to specify with your bank what you would like to do.
Learn More About an American Express CD Account
To learn more about an American Express CD account and see the current terms and interest rate, visit: American Express Certificate of Deposit (CD).
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Accounts offered by American
Express National Bank. Member FDIC. Each depositor is insured to at least $250,000 per depositor, per insured bank, per ownership category.
* The Annual Percentage Yield (APY) as advertised is accurate as of . Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded. [There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you]
** The national rate referenced is from the FDIC's published Monthly Rate Cap Information for Savings deposit products. Visit the FDIC website for details.
1 There is no minimum balance required to open your Account, to avoid being charged a fee, or obtain the Annual Percentage Yield (APY) disclosed to you.
2 The interest rate and Annual Percentage Yield (APY) will be disclosed in your account-opening documents, which you will receive after funding your Account. The interest rate and APY for your CD will be fixed and will either be (i) the rate reflected at application submission or (ii) the rate being offered when your CD is funded, whichever is higher. All CDs must be funded within 60 calendar days from the time we approve your application or will be subject to closure. After the CD is opened, additional deposits are not permitted. Early CD withdrawals may be subject to significant penalties which could cause you to lose some of your principal. Please see the Consumer Deposit Account Agreement and Savings Schedules for additional information.
3 For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
4 Calculations are estimates of expected interest earned. Actual results may vary, based on various factors such as leap years, timing of deposits, rounding, and variation in interest rates. The first recurring deposit is assumed to begin in the second period after any initial deposit.