American Express CD rates have continued to beat the national averages throughout the month of June. CD accounts offered by American Express are issued under American Express Bank, FSB. American Express Bank is an online only bank that is currently ranked as the 42nd largest bank in the nation based on assets.

New CD account holders to American Express can call the banks’ customer service line or open and fund their account online. New bank accounts can funded through a bank transfer from another account or a personal check. Once opened, the bank CD accounts can be managed account online.

At the present time, American Express CDs with a six month term have a yield that is 20 basis points above the national average. The American Express one year CD rate is 45 basis points above the national average. A basis point is equal to 1/100th of a percent.

The American Express CDs have absolutely no minimum opening deposit requirements. The banks CDs also have no fees to open the account or maintain a CD account. The CD will have penalties for early withdrawals of the principal balance before the maturity date.

The interest earned on an American Express CD can remain in the account to earn compound interest, paid out to the account holder with a check or transferred electronically to another American Express account or other bank account.

Current CD rates offered by American Express include the following terns and rates:

American Express 6 month CD rate 0.50%
12 month CD rate 0.90%
18 month CD rate 1.00%
24 month CD rate 1.25%
36 month CD rate 1.45%
48 month CD rate 1.60%
60 month CD rate 2.15%

The American Express CDs are fixed interest rate and fixed term CDs that are FDIC insured. All CD interest rates listed are subject to change at any time prior to opening an account. The CD Annual Percentage Yields (APY) listed above are effective as of June 30, 2011.

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