Discover Bank, the banking arm of the credit card company, if offering a $25 promotional bonus for opening a no penalty 12 month certificate of deposit.

The 12 month certificate of deposit currently has an annual percentage yield of 1.95 percent, currently one of the best CD yields around for a 12 month CD. Discover Bank has very competitive bank cd rates these days. This bonus certificate of deposit promotion is available until December 31, 2009.

To receive the $25 bonus you must deposit a minimum of $2,500 of new money, money not currently held in Discover Bank accounts, within 30 days of submitting a certificate of deposit application with Discover Bank. The funds must remain in the account for 90 days to receive the bonus.

Discover Bank’s ”No Penalty CD” benefit applies to 12-month Certificates of Deposit and/or 12-month IRA certificates of deposit opened or renewed between July 1, 2009 and December 31, 2009 and held as a sole ownership or joint-tenant account. The No Penalty CD benefit waives the early CD withdrawal penalty fee in the event of an involuntary job loss.

The offer can be found at http://www.discoverbank.com/cdoffer .You have to use an offer code to receive the bonus. You can try using this offer code: D120176 or some close variation of it. We successfully were able to use several variations by changing the last three numbers of the bonus offer code.