Discover Bank is offering the following Certificate of Deposit (CD) Rates. CD terms range from 3 months to 5 years, the minimum deposit to open a CD account is $2,500. Discover Bank will contact you three weeks before the CD matures to offer you a variety of renewal options. If you do not respond Discover Bank will automatically renew the CD with the same term at the current rate.
| Term |
Interest Rate |
APY |
| 3 months |
2.75% |
2.78% |
| 6 months |
3.22% |
3.27% |
| 9 months |
3.53% |
3.59% |
| 1 year |
3.90% |
3.97% |
| 1½ years |
4.05% |
4.13% |
| 2 years |
4.15% |
4.23% |
| 2½ years |
4.30% |
4.39% |
| 3 years |
4.50% |
4.60% |
| 4 years |
4.70% |
4.81% |
| 5 years |
5.00% |
5.12% |
As with any CD account there are early withdrawal penalties, Discover Bank charges the following fees.
A CD term of one year or less – 3 months of interest on the amount withdrawn
A CD term of 1 year up to 5 years – 6 months of interest on the amount withdrawn
A CD term of more then 5 years – 9 months of interest on the amount withdrawn
Discover Bank CD Application
Author: Brian McKay
July 12th, 2008
