Discover Bank CD Rates: Best Deal 4.75% 18-Month CD

Discover Bank is offering some very competitive CD rates right now, including on the bank's 18-month CD which has a current 4.75% APY, making the 18-month CD the best deal available at Discover Bank. Other CD rates at Discover Bank are also on the higher end of rates available, the current 12-month CD rate is at 4.41% with an APY of 4.50% and 6-month CDs are at 3.35% with an 3.40% APY.

In all, Discover Bank offers CD accounts with terms ranging from 3-months to 10-years, CD rates vary but Discover's long-term CD rates all have the same CD rate and yield. The main benefit of investing in a Discover Bank CD account, or any other FDIC insured bank CD, is the guaranteed return on investment, as long as the deposit amount is $250,000 or less. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

Another benefit of investing in a Discover Bank CD account is the flexibility of the CD terms offered. You can choose a CD term that works best for your situation, whether it be a short-term or long-term CD and when you need access to your funds.

Discover Bank CD Rates Include:

  • 3-Month 2.00% APY
  • 6-Month 3.50% APY
  • 9-Month 3.50% APY
  • 12-Month 4.50% APY
  • 18-Month 4.75% APY
  • 24-Month 4.30% APY
  • 30-Month 4.30% APY
  • 36-Month 4.30% APY
  • 48-Month CD 4.10% APY
  • 60-Month CD 4.10% APY
  • 84-Month CD 4.10% APY
  • 120-Month CD 4.10% APY

Open a Discover Bank CD Account

One of the main cons of investing in a Discover Bank CD account is the penalty for early withdrawal, this is the case with most banks and CDs. If you need to withdraw your funds before the CD term is up, you will be charged an early withdrawal penalty. The penalty varies depending on the length of the term, 7-year to 10-year Discover CDs have a penalty of 2 year of interest, which is steep.

Discover Bank CD accounts are a great option if you want a really good rate with a low-risk investment and a guaranteed return. With a variety of CD terms and CD rates available, you can choose the best option for your financial situation. However, you need to plan which CD term is best for you because of the early withdrawal penalties, if you need access to your money sooner than you think you will pay a price. You can read more about and open a Discover Bank CD account at

Author: Brian McKay
March 17th, 2023