American Express is not only a credit card company, but also a leader in investments, high yield savings accounts and certificate of deposits. While most major banks and financial institutions keep their rates so low, its almost as if they don’t want your business, American Express keeps their rates competitive. For instance, Bank of America offers the same 3 year CD at a rate of 0.75% APY, now how is that worth buying into? I found it hard to believe that this major Credit Card company offered decent rates on CDs.
Right now you can get their 36 Month CD at 1.85% APY and while that isn’t the best rate available, they offer a sense of security. American Express is rated one of the most stable financial institutions and Bankrate gives them a 5 of 5 star soundness rating.
There are no minimum deposits or account fees when you sign up for any of American Express’s CD products.
Currently American Express is number 11 for having the highest 3 year CD. Here is a short list of the best 36 month certificate of deposits available:
- Melrose Credit Union at 2.27% APY.
- iGObanking at 2.25% APY.
- Bank of Internet at 2.05% APY.
- USAA at 2.00% APY.
While you can get better rates from one of these other banks or credit unions, American Express will keep you feeling like your money is secure.
Be sure to check out our CD rates board for the best certificate of deposit in your area.