Discover Bank CD Rates
As we look at individual banks, we here at Highest CD Rates Info are interested in seeing how the changing market and economy and high competition for deposits are affecting the rates available. Discover Bank CD rates are of interest and we haven’t looked at Discover CD rates in a little while, so we’re revisiting them here.
*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.