Discover Bank CD rates continue to hold up as some of the highest CD rates available nationwide. The CD rates offered by Discover Bank continually land on the lists of the top ten best CD rates available nationally on multiple terms or maturities. The rates available through the bank are generally double the national average rate for similar term accounts.
Discover Bank CDs require a minimum deposit of $2,500.00 for all terms available at the bank. The bank operates as an online bank and account funding has to be accomplished through online transfers, wire transfers, or checks sent by mail. As long the deposit arrives before 2:00 PM ET, the CD account at Discover will earn interest as of that day.
The interest on the Discover Bank CDs accrues and compounds daily and is then credited to the CD account on a monthly basis. Bank deposits at Discover are FDIC insured up to the maximum allowed by law. With the wide assortment of terms, high yields, different interest payment options and FDIC backing, the Discover Bank CDs offer a combination of access, liquidity, safety, and growth potential for new account holders.
Current Discover CD rates as of July 19, 2013 include the following interest rates and terms:
The 3 month CD rate is 0.35%.
The Discover Bank 6 month CD rate is 0.65%.
A 9 month CD earns 0.70%.
The Discover 12 month CD rate is 0.80%.
18 month CDs have an interest rate of 0.85%.
24 month bank CDs yield 0.95%.
The bank 30 month CD has a rate of 1.00%.
3 year certificates earn 1.15%.
A 4 year CD interest rate is at 1.30%.
The 5 year CD rate is 1.50%.
7 year certificates of deposit yield 1.80%.
The bank’s longest term CD, the 10 year account, has a rate of 1.90%.
The CD interest rates listed for Discover Bank are current as of July 19, 2013 and are subject to change at any time prior to funding an account. The bank CD interest rates are based on the institution’s online published rates and may have changed since this publication date.
Additional information on the Discover Bank CD accounts, terms and CD rates can be obtained by calling a Discover Bank customer services representative at 1-800-347-7000.
The bank and bank CD account information is believed to be reliable, but the information is not guaranteed. Contact the bank directly for the most up to date and accurate bank rates and account terms and conditions.
Current certificate of deposit rates and terms at Discover Bank, the nation’s 31st largest bank, are among the best performing rates across a multitude of terms. The Discover CD rates being offered by Discover Bank at the end of June exceed the national average by a considerable margin. These CD rates may not necessarily be the absolute highest rate per term but are consistently among the highest CD rates in the nation.
Discover Bank offers their CDs and other bank products including money market accounts, savings account and IRA CDs by phone and online. The Discover CDs can be obtained with terms from 3 months to 10 years. There is a $2,500.00 minimum balance needed to open a Discover Bank CD.
Discover CDs earn interest that is compounded daily and credited to the account holder monthly.
CD account holders have the option of allowing the interest earned to remain in the certificate account and take advantage of compounding, have the interest transferred to another Discover Bank account or to another bank account, or have the interest paid via bank check for a small fee.
Discover CD rates as of June 30, 2011 include the following terms and APY’s:
Discover 3 month CD rate 0.50%
6 month CD rate is 0.90%
9 month CD interest rate 1.00%
12 month CD rate 1.20%
18 month CD rate is1.30%
24 month CD interest rate 1.40%
30 month CD rate 1.50%
3 year CD rate is 1.75%
4 year CD rate 2.00%
5 year CD rate 2.35%
7 year CD rate is 2.60%
10 year CD interest rate 3.00%
A penalty may be charged for early CD withdrawal. The early withdrawal penalty schedule for the Discover CDs is as follows: for CD terms of less than one year there is a penalty of 3 months simple interest on the amount withdrawn, for bank CD terms of one year to 5 years the penalty is 6 months simple interest on the amount withdrawn and for CD terms longer than 5 years the early withdrawal penalty is 9 months simple interest on the amount withdrawn.
CD rates listed are current as of the close of June 2011 but are subject to change daily without notice.
Discover Bank is a subsidiary of Discover Financial Services. Discover Financial Services is one of the largest credit card issuers in the United States as the issuer of the Discover card and also offers personal and student loans, online savings products, certificates of deposit and money market accounts.
With Discover Bank running a bank bonus promotion that adds $25.00 to new CD accounts with terms of 12 months or longer, reviewing the current Discover Bank CD rates seems appropriate. For more information on the Discover CD bank bonus please see Bank Deals section. The bank CD bonus is for a limited time and is due to expire at October 31, 2010.
Discover Bank continues to off very competitive bank CD rates throughout the year. The CD interest rates may not always be the highest CD rates but they are often among the top ten best CD rates available nationally. More importantly, Discover Bank CD rates are consistently among the top ten highest rates in the nation across a wide assortment of terms or maturities.
Discover Bank offers certificates of deposit accounts with terms running from 3 months to 10 years. CD interest paid on these accounts is compounded daily. Earned interest in the bank CD account can remain on the account or be transferred to another bank account. All Discover Bank CDs are FDIC insured up to the FDIC limits.
Current CD rates offered by Discover Bank include the following rates and terms:
Three month Discover Bank CD rate is 0.70 percent.
Six month Discover CD rate is 1.00 percent.
Nine month CD interest rate 1.10 percent.
One year CD rate is 1.35 percent.
18 month bank CD interest rate 1.50 percent.
Two year CD rate is 1.75 percent.
30 months Discover CD rate 1.85 percent.
Three year Discover Bank CD rate is 2.00 percent.
Four year CD interest rate is at 2.25 percent.
Five year CD rate is 2.75 percent.
Seven year bank CD rate is 2.90 percent.
Ten year bank rate is 3.00 percent.
All listed bank CD rates are fixed rate and fixed term accounts. A penalty may be charged for early withdrawal from the bank CD accounts listed. Fees could reduce earnings on the account. All advertised rates shown believed to be accurate but are not guaranteed. Bank CD Rates are verified as of October 12, 2010. Bank CD interest rates might change at any time by the bank without notice.
Discover Bank is part of Discover Financial Services which is best known for its portfolio of credit cards. Discover Bank offers certificates of deposit, online savings accounts, bank money market accounts as well as bank IRA CDs. Compare the savings account rates of Discover at best online savings account as well as CD rates to other bank’s rates by CD term at three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates, so you can find the highest bank rates available. For more on Discover Bank IRA CD rates please see IRA CD rates.
Discover Bank consistently offers above average rates on their bank CDs, savings accounts and money market accounts. In the search for bank CD rates that are almost always ahead of the national average, Discover CDs often surface. Discover Bank offers certificates of deposit accounts with terms ranging from 3 months to 10 years.
For those savers and investors in the market to invest in a safe and secure fixed interest rate CD here are the current Discover CD rates and terms:
3 month Discover CD rate is 0.65%
6 months Discover CD interest rate is 1.15%
9 months Discover CD rate is also 1.15%
1 year CD rate 1.50%
18 month bank CD interest rate 1.60%
2 year bank CD rate 1.90%
30 month Discover CD interest rate 2.05%
3 year Discover Bank CD rate 2.25%
4 year CD interest rate 2.45%
5 year CD rate 2.95%
7 year Discover Bank rate is 3.25%
10 year bank CD rate 3.50%
The minimum deposit amount is $2,500 to open a Discover Bank CD account. As with most all bank CD accounts there is an early withdrawal penalty. The early withdrawal penalty for bank CDs with a term of less than 1 year is 3 months interest, the early withdrawal penalty for bank CDs with a term of 1 year to 5 years is 6 months of interest and the early withdrawal penalty for bank CDs with a term greater than 5 years is 9 months interest. Discover Bank CDs are FDIC insured up to the FDIC allowable limits.
Discover Bank offers a number of banking products designed to help consumers achieve a variety of financial goals.
Interest rates on the listed Discover CD accounts are current as of the date of this publication but are subject to change at any time. For current CD rates from Discover Bank, Discover customer service representatives are available 24 hours a day and can be reached at 1-800-347-2683.
Discover CD rates changed modestly in the past week. Interest rate changes on the Discover CD accounts mostly mirrored those found among the best CD rates available nationally. Overall, Discover Bank CDs continue to offer some of the highest CD rates available. For the six month CD, one year CD, two year CD and five year CDs, Discover CDs continue to be among the top ten best CD rates available nationally.
Discover CDs have maturities that range in length from 3 months to 10 years. The bank CDs require a minimum initial deposit of $2,500.00 to open and earn the posted annual percentage rates.
Discover Bank is chartered as a Federal Reserve Non-member bank and has been FDIC insured since 1934. Discover Bank deposits are covered by FDIC insurance up to $250,000 per individual account holder.
Current Discover CD rates include the following rates and terms:
3 months Discover Bank CD rate is 0.65%
6 months CD interest rate 1.25%
9 months Discover CD rate is also 1.25%
1 year CD rate 1.50%
18 months bank CD rate 1.70%
2 year CD rate 2.00%
30 months Discover CD rate 2.10%
3 year Discover Bank CD rate 2.30%
4 year CD interest rate 2.45%
5 year CD rate 3.00%
7 year bank rate 3.30%
10 year bank CD rate 3.60%
Interest rates on the above listed accounts are current as of the date of this publication but are subject to change at any time. For current CD rates from Discover Bank, Discover customer service representatives are available 24 hours a day and can be reached at 1-800-347-2683.
Interest earned on the bank CDs from Discover is compounded daily and credited monthly. The interest earned and credited to the CD accounts can be withdrawn from the account at any time. The accumulate interest can be held in the account or transferred to another account with Discover Bank or to another bank.