Most American Express Personal Savings CDs offer competitive interest rates. The terms 18-months or longer offer rates that are competitive with other online CDs. These rates are much higher than typical bank rates. The interest rates for American Express CDs are not tiered. Any amount in the account earns the most competitive interest rate.

American Express offers a variety of ways to receive the interest earned off their CDs. You can request a check mailed monthly, each quarter, or once a year. You can transfer the money into another American Express account or a linked account. You can also leave the money in the CD account. American Express gives options to withdraw interest, but it will reduce your earnings. Contact customer service to initiate these options.

There is no set amount required to open American Express CDs. You can open each of the different CD terms with any amount. There is no monthly fee or no required amount to keep in the account to earn interest.

American Express Personal Savings offers a good variety of CD terms. The terms range from 6-months to 60-months. There are seven total CD terms to choose from.

The shortest American Express CD terms have lower interest rates. These term rates are not competitive with other online CDs of the same length. The six-month and 12-month terms do not offer as competitive interest rates as the other American Express CDs.

American Express does not allow partial withdrawals from the CD before maturity. If you need to withdraw money before the maturity date, you must withdraw the entire CD balance. As with all CDs, if you withdraw money before maturity, there is a fee assessed.

The early withdrawal fees for American Express CDs are high. If your CD is less than 12 months, the fee is 90 days of interest. For terms from 12 months to less than 48 months, the fee is 270 days of interest. CD terms from 48 months to less than 60 months, the fee is 365 days of interest. The fee for 60-month terms or longer is 540 days of interest. If you have not earned enough interest to cover the fee, the rest is taken from the CD principal.

American Express Personal Savings does not guarantee to get customers the highest interest rate. The interest rate you receive for the CD term is the rate on the day you fund your account. The interest rate is fixed. It is locked in for the life of the term.

Read the full American Express review.

The Comenity Direct CDs offer competitive interest rates on each of their CD terms. The interest rates are competitive with other online accounts. These rates are much higher than typical bank rates. The rates are not tiered. Any amount over $1,500 earns competitive rates.

Comenity Direct encourages CD laddering. CD laddering is when you open one five-year CD each year. Your money earns competitive interest rates offered by five-year CDs. By opening one each year, one renews each year. This allows you access to your money every year without an early withdrawal penalty.

The CDs with Comenity Direct have low opening required amounts. They each need only $1,500 to open. Once you fund the CD, your money starts earning interest immediately.

Each of the CDs offered through Comenity Direct can be opened online. This is an entirely online bank. You open your account online and take care of all your banking needs online. They offer a website as well as a mobile app to access your accounts.

The opening required amount to fund Comenity Direct CDs requires $1,500. This amount must be deposited in one transaction. You cannot make that deposit through multiple transactions.

Comenity Direct offers online CDs. There are limited CD terms available. They offer one, two, three, four, and five-year terms. Open each of the Comenity Direct CDs entirely online.

The Comenity Direct CDs do not offer an interest rate guarantee. The interest rates on each of the CDs are competitive. But, if the rates increase shortly after opening the CD, your interest rates will not increase.

Customer service hours for Comenity Direct are not 24/7. They do offer extended customer service hours. They are open on weekdays from 7 a.m. to 11 p.m. and weekends from 9 a.m. to 5 p.m. You can call customer service or send an email. There are no branch locations.

Read the full Comenity Direct review.