bank rates

American Express No Longer A CD Leader

American Express Bank began 2012 with a bang — even leading the 24-month term on our CD Rates Leaderboard.

But CD rates at this online bank owned by the credit card company have since settled into our above-average but, let’s face it, just OK category.

Still, American Express deserves some credit, as its deals are way better than what you’ll find at most big banks.

It’s just that we know what this bank is capable of, we liked it and we want to see more.

With hope that we will indeed see Leaderboard-worthy rates again, we’re keeping an eye on American Express’ website. Currently, you’ll find its:

6-month CD rate is 0.40% APY versus an average rate of 0.20% APY. (Leaderboard leader is 0.87% APY.)

12-month CD rate is 0.55% APY versus an average rate of 0.31% APY. (Leaderboard leader is 1.10% APY.)

24-month CD rate is 0.80% APY versus an average rate of 0.51% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.90% APY versus an average rate of 0.66% APY. (Leaderboard leader is 1.51% APY.)

60-month CD rate is 1.10% APY versus an average rate of 1.08% APY. (Leaderboard leader is 1.91% APY.)

American Express doesn’t have a minimum deposit requirement.

You can only buy American Express certificates of deposit online or over the phone.

Learn more about American Express at or call 800-446-6307.

Be sure to compare American Express’ returns with the best CD rates from scores of other banks in our extensive database.

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