Currently, Discover’s highest CD rates are on their 5 year term offer, which they are promoting at 2.95% annual percentage yield (APY) with a $2,500 minimum deposit requirement. This is a competitive option against the current CD rates on national average at a full percentage point lower.

Terms on standard Discover Bank CD rates start at 3 months with a 0.65% APY, then go to 6 or 9 months at 1.15% APY and then to 12 months at 1.50% APY. These are competitive for short-term savers.

At 18 months, the rate goes up to 1.60% APY and at 2 years it jumps to 1.90% APY. Those aren’t the best available, but they are competitive.

30 months gives 2.05% APY and 3 years gives 2.25% APY. Four years goes up to 2.45% APY and 7 years jumps to 3.25% APY while 10 years yields 3.50% APY.

Definitely the 5-year term at 2.95% APY is the current best offer in Discover Bank certificate of deposit rates. The 12 month rate is also good compared to most others which are closer to 1%.

Discover Bank is fully FDIC insured and protected. Be sure to consult a financial adviser before making a decision. Check current rates, as they can change at any time.

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Discover Bank CD Rates Review

Discover Bank is a major financial institution that deals in consumer finance and savings accounts. Discover Bank’s current cd rates follow the general market situations and regulatory orders and are subject to frequent changes. The bank offers a 3-month fixed term investment with certificate of deposit rates at 0.75% APY. A 6-month CD yields 1.00% in APY. The bank requires a minimum balance of $2,500 for any type and duration of investment. It also allows for a basic investment for a short period of three months and it would yield 0.75% APY.

Discover Bank CD rates for 1-year term are estimated at 1.85% APY. The rates will rise with long term investments with a 2-year certificate yielding 2.25%. Yields for 3-year and 4-year certificates are 2.60% and 2.85%, respectively. A 5-year investment can bring as high as 3.30% whereas the maximum term limit of 10-year CD will return an APY of 3.70%. Discover Bank also offers a 7-year CD investment with an APY of 3.45%.

Discover certificate of deposit rates for IRA are the same as in the case of fixed-term investment. The only difference is that of tax-related regulations and benefits. The bank does not charge any penalty on early withdrawal of money from these accounts.

CD rates are flexible in case the customers have opted for the flexible investment plan. Discover Bank offers most of its services over the company website and customers can open CD accounts by visiting the company portal.

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Discover Bank CD Rates Update

*Editor’s Note: this is an older article, and we have recently updated our research about current Discover Bank CD Rates.  For our latest article on Discover CD Rates, please see the following page: Discover Bank CD Rates

Minimum deposits are $2,500 to open and maintain a Discover certificate of deposit rates account. Right now, they are highlighting their five year term, which is 3.35% annual percentage yield (APY) and is very competitive nationally.

Other terms start at three months and go up to 10 years. For a 3-month term, the return is 0.75% APY and for 6 months it’s 1.00% APY. Nine months gets 1.25% APY and a year gets 1.90% APY. For 18 months, the yield is 1.95% APY and for two years the return is 2.25% APY.

It is the same (2.25% APY) for 30 months and goes up to 2.60% APY for 3 years. Four years gives 2.75% APY and five years the aforementioned 3.35% APY. Seven years is 3.45% APY in returns and the ten year rate is 3.70% APY.

Definitely some good Discover CD rates worth looking into there. Very nationally competitive.

Comparing the numbers, we see that a 1 year term at $2,500 (the minimum) will pay off at $2,548. Over three years it becomes $2,700 and over five years $2,948.

Discover Bank is FDIC insured to the fullest extent of the law. Discover certificate of deposit rates change often, so if any of these highest CD rates appeal to you, lock in your current CD rates now before they change.

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Discover Bank CD Rates

*Editor’s Note: this is an older article, and we have recently updated our research about current Discover Bank CD Rates.  For our latest article on Discover CD Rates, please see the following page: Discover Bank CD Rates

The most interesting rates were the Discover Bank long term CD rates:

The Discover Bank 5 Year CD earns an interest rate of 3.73 percent, translating to an Annual Percentage Yield (APY) of 3.80 percent. A minimum deposit of $2,500 is required to be eligible for these Discover CD rates.

For those interested in a really long term certificate of deposit, the Discover Bank 7 Year CD earns an interest rate of 3.93 percent, corresponding to an APY of 4.00 percent. Once again, a minimum investment of $2,500 is required to be eligible for these Discover Bank CD rates.

So, if you are shopping for a long term certificate of deposit, be sure to check out the CD rates at Discover Bank.  Remember to look at the Discover bank online banking site to be certain of the current rates and terms available in your area, because CD rates can change daily and may differ by location.

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Discover Bank CD Rates