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Discover Bank Certificate of Deposit (CD) Rates

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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A CD term of one year or less - 3 months of interest on the amount withdrawn

A CD term of 1 year up to 5 years - 6 months of interest on the amount withdrawn

A CD term of more then 5 years - 9 months of interest on the amount withdrawn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