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Lock in your rate with a certificate of deposit

See how much your money can earn with a Certificate of Deposit account by entering an initial deposit and selecting a term. Calculator is for illustrative purposes only. See below for details.♦

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Want more flexibility in your savings account? A Certificate of Deposit is a great choice if you want to lock in a rate for a one-time deposit. If you want more flexibility open a High Yield Savings Account and you can add funds whenever you want and withdraw up to six (6) times per statement cycle.† Learn More

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Select a CD Term that fits your Savings Strategy

For a Certificate of Deposit, your interest rate and Annual Percentage Yield (APY) will be fixed as of the date we receive your complete application, provided that:

  • We receive your account-opening deposit no later than 30 days after we approve your application;
  • You do not withdraw interest before the maturity date of the CD – as withdrawals of interest before the maturity date, while permissible, will reduce earnings; and
  • You do not withdraw the principal before the maturity date of the CD – as there may be a penalty for early withdrawal of the principal.

Select a Term and APY*, then click to apply.

Term
APY*

Getting Started is Easy

Step 1: Gather Your Information You will need this information for both primary and joint applicants:

  • Social Security Number
  • Email Address
  • Home Address
  • Phone Number
     
  • Date of Birth
  • Account and Routing numbers (primary applicant only) Read more in FAQs

Step 2: Submit Application Choose the type of account that you want to open, either a High-Yield Savings account or a Certificate of Deposit, and apply online or by phone at 1-800-446-6307 anytime. Apply Now

Step 3: Receive Confirmation You will receive an online and/or email confirmation when your application is approved. Additionally, you will receive an American Express® Personal Savings Welcome Kit in the mail.

Step 4: Fund Your Account You can fund your online account, either by linking your current bank account or by mailing a check. Immediately start earning interest on the business day‡ we receive your deposit. Read More in FAQs

Getting Started is Easy

  • Step 1: Gather Your Information

    You will need this information for both primary and joint applicants:

    • Social Security Number
    • Email Address
    • Home Address
    • Phone Number
       
    • Date of Birth
    • Account and Routing numbers (primary applicant only) Read more in FAQs

  • Step 2: Submit Application

    Choose the type of account that you want to open, either a High-Yield Savings account or a Certificate of Deposit, and apply online or by phone at 1-800-446-6307 anytime. Apply Now

  • Step 3: Receive Confirmation

    You will receive an online and/or email confirmation when your application is approved. Additionally, you will receive an American Express® Personal Savings Welcome Kit in the mail.

  • Step 4: Fund Your Account

    You can fund your online account, either by linking your current bank account or by mailing a check. Immediately start earning interest on the business day‡ we receive your deposit. Read More in FAQs

Certificate of Deposit Account Policies

Interest

Interest is credited to your CD account on a monthly basis. By default, it remains in your account earning compound interest until maturity. To change your option, simply call us, and have the interest:

  • Transferred automatically each month from your CD account to your High Yield Savings Account;
  • Transferred automatically each month to a linked account; or
  • Mailed to you via check monthly, quarterly, or annually.
Maturity

You will be notified by conventional mail and/or by email ten (10) days in advance of your CD’s maturity date. Your CD will automatically renew at the maturity date – unless we no longer offer a CD with the same term as your maturing CD, or if you notify us you would prefer that your CD not automatically renew. You can call us at any time after you open your account and inform us that you would not like your account renewed.

Early withdrawal penalty for CD Accounts

If you make an early withdrawal of your principal balance, or if the CD account is closed for any other reason before the maturity date, a significant penalty may be assessed on your account which could cause you to lose some of your principal. Please see the FAQs below for more details and the Deposit Account Agreement for full account terms and conditions.

Frequently Asked Questions

Read More in FAQs
  • What is a Certificate of Deposit (CD) account?

    American Express® Personal Savings offers Certificate of Deposit (CD) accounts. These accounts have fixed interest rates and have seven (7) maturity terms to choose from. Personal Savings offers CD Terms of 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months.

  • What is the difference between a High Yield Savings account and a CD?

    High Yield Savings Accounts offer the flexibility of unlimited deposits and up to six (6) withdrawals in a statement cycle. The rate is variable, so it can increase and decrease at any time. A Certificate of Deposit locks in the interest rate – it never changes – but a penalty may be assessed for any early withdrawals.

    Read More in FAQs

  • Can I add funds to a CD once it is opened?

    The initial funding of a CD during the application is the primary way to add funds. If you choose to renew your CD at maturity, you may add funds during the 10 calendar-day period (grace period) following the CD maturity date.

  • What is a Maturity date and what happens after that date?

    The Maturity Date is the date your CD account is scheduled to be closed (unless that CD account is renewed). A penalty may be imposed for a withdrawal of principal before the Maturity Date. Your CD will automatically renew on the Maturity Date – unless we are no longer offering a CD with the same term as your maturing CD, or if you notify us that you would not like your CD to be renewed. At maturity, you will have a 10 calendar-day period (grace period) during which you can withdraw funds from your CD account without penalty, or add additional funds to increase the total funds held in that CD.

    In order to change the maturity option and prevent automatic renewal, you must call us prior to the maturity date or send us a written notice which we receive from you before the end of the grace period. For more information, please see the personalsavings.americanexpress.com/deposit_terms for additional terms and conditions and Truth-In-Savings disclosures. Also see “Automatic Renewal”.

  • How does the interest on a CD compound, and can I choose to pay out the interest on a CD?

    Interest on all Personal Savings accounts compounds daily and posts to the accounts monthly. You can choose to receive payments of interest from your Certificate of Deposit account. You can have the interest paid out to you via a monthly transfer to your Personal Savings account or to a linked external account, or you can choose to have the interest paid to you via check on a monthly, quarterly, or annual basis.

  • Does Personal Savings allow partial withdrawal of funds from my CD?

    Personal Savings does not allow partial withdrawals from our CD accounts.  If you wish to make a withdrawal, you will be required to withdraw the full amount in your account and the account will be closed.

  • What if I want to withdraw my funds from my CD before the Maturity Date?

    A penalty will be imposed if you withdraw principal from your CD before maturity, or if your CD is closed for any other reason before maturity. (In certain circumstances, such as the death or incompetence of an account holder, we may agree to waive the early withdrawal penalty.) You understand that, if the amount of the penalty is greater than the available interest earned or credited on your CD, we will deduct the difference from your principal.

    • For a CD with a Term of Less than 12 Months:  If you withdraw all of your principal balance or if the account is closed for any other reason before maturity, the penalty is 90 days’ interest on the withdrawn amount applying the interest rate disclosed in your account-opening documents.
    • For a CD with a Term of at least 12 Months but Less than 48 Months: If you withdraw all of your principal balance or if the account is closed for any other reason before maturity, the penalty is 270 days’ interest on the withdrawn amount applying the interest rate disclosed in your account-opening documents.
    • For a CD with a Term of at least 48 Months but Less than 60 Months: If you withdraw all of your principal balance or if the account is closed for any other reason before maturity, the penalty is 365 days’ interest on the withdrawn amount applying the interest rate disclosed in your account-opening documents.
    • For a CD with a Term of 60 Months or more: If you withdraw all of your principal balance or if the account is closed for any other reason before maturity, the penalty is 540 days’ interest on the withdrawn amount applying the interest rate disclosed in your account-opening documents.

    Note: If your CD was opened or last renewed before April 1, 2018, please see your original account disclosure for the penalty that will apply. 

LOCK IN YOUR RATE

Apply for a Certificate of Deposit
Expand Your Knowledge
APY vs. APR: The Basics About How Interest is Calculated
Not Saving Enough For a Rainy Day? High Yield Savings Accounts and CDs Can Help
Five Strategies for Getting More Out of Your Savings Accounts and CDs
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FDIC

Accounts offered by American Express National Bank. Member FDIC. Each depositor is insured to at least $250,000.

Learn More from FDIC.gov

FDIC

Accounts offered by American Express National Bank. Member FDIC. Each depositor is insured to at least $250,000.

Learn More from FDIC.gov

*The Annual Percentage Yield (APY) as advertised is accurate as of XX/XX/XXXX. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.

For a CD account, rates are subject to change at any time without notice before the account is opened. Your rate will be fixed on the business day‡ we receive your completed application, provided we receive your deposit within 30 days after your application is approved. After a CD is opened, additional deposits to the account 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 Deposit Account Agreement for additional terms and conditions and Truth-in-Savings disclosures.

**The national average APY is accurate as of October 14, 2019, as published in the FDIC's Weekly National Rates and Rate Caps; average rate used is for deposits under $100,000.

†You may make up to six (6) withdrawals or transfers out of your High Yield Savings Account during a monthly statement cycle. Read More in FAQs

‡For purposes of transferring funds, 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 to be processed on the next business day.

♦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.