American Express is known as a credit card company.  But recently, they began American Express Online Banking.

Unlike other CD’s with great rates out there that is offered by companies you have never heard of, American Express has been around for decades. This company has built its financial structure around a sound business plan that has endured throughout the years.

American Express CD Rates vary depending on the length of term of the investment. For the 3 month CD the APY is 0.60% while for the 6 month CD the APY is 1.00%. If you wish to double that interest rate go with the 12 month CD which has an interest rate of 2.00%.

The 18 month CD has a rate of 2.25% APY while the 24 month is at 2.50% APY. To get 3.0% or better you will have to make a longer term investment. The 36 month and the 48 month CD have a rate of 3.00% APY. The best rate is for the 60 month CD which is at 3.40% APY.

The rates for these CD are locked as soon as American Express receives your deposits. Interest dispersments can be made either by electronically transferring the funds to your personal account or it can be rolled over back into the CD to acquire more interest.  Funding these investments can be made either through electronic transfer or a personal check.

The maximum amount of investment is $250,000 which is guaranteed by the FDIC.

Penalty for early withdraw depends on the time length of your CD. For those that have a maturity term of less than one year, the penalty is 90 days of interest. For a CD with a maturity date of greater than one year, the penalty is 180 days of interest.

No matter which CD you pick, the American Express CD rates will be locked in and security of your investment is assured.  To ensure that you find the best CD rates, you need to check out the banks official website to see the current CD rates.

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