Discover® Bank is one of the largest banks mostly known for their credit cards, but you can earn competitive rates when opening a Discover® CD account – Discover is offering Certificates of Deposits (CDs) with rates up to 4.10% APY. This rate is higher than many other competitors in the market.
Update 11/21/24: There is now no minimum to open an account. If you’re looking for a safe, reliable bank to invest your cash in, sign up for a Discover Bank account today!
You can choose CD terms as low as 3 months for a lower APY rate or 10 years for the maximum bonus. Enjoy great service and 24/7 phone service. Interest rates on traditional Savings account can change the next day; however, CDs guarantee the rate for the length of the term.
To open the account, no minimum is needed to open your account and lock in your rate.
(Visit Discover for more details)
Discover Certificate of Deposit Summary
 • Available nationwide online, Discover® offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.10% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Get started and open a Discover CD in 3 easy steps. |
Discover CD Rates and Information
Opening a new CD account with Discover is great because you can earn money just by saving it over time. The rates change accordingly on the type of contract.
| CD Term | APY Rate |
|---|---|
| 3-Month Term | 2.00% APY |
| 6-Month Term | 3.70% APY |
| 9-Month Term | 3.80% APY |
| 12-Month Term | 4.10% APY |
| 18-Month Term | 3.80% APY |
| 24-Month Term | 3.60% APY |
| 30-Month Term | 3.50% APY |
| 3-Year Term | 3.50% APY |
| 4-Year Term | 3.40% APY |
| 5-Year Term | 3.40% APY |
| 7-Year Term | 3.40% APY |
| 10-Year Term | 3.40% APY |
How To Open Discover Bank CD
Opening a CD is simple. You can do it online, step by step, or on the phone.
- Visit DiscoverBank.com.
- Enter your info: They need your address, phone, email and social security number.
- Fund your account: Open with any amount. You can send them a check or transfer funds from an existing bank account.
- Verify your information: Verify information and electronically sign your application.
- Confirmation email: They’ll send a confirmation email, then watch the mail for your Welcome Kit.
Other Discover Accounts To Consider
Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 3.90% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details |
• Get started and open a Discover® Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 3.75%% APY balances $100,000 and over • Earn 3.70% APY balances under $100,000 • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
• Available nationwide online • Select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.10% APY • Step-by-step help available 24/7 by phone • Flexible options: Roth (pay now, save later) & Traditional IRAs (earn now, pay later) • Gather your retirement savings into one place. • Just three steps and you’re on your way to saving with a Discover® IRA CD. |
Bottom Line
I recommend opening Discover Bank CDs with the term of 10 years for the maximum bonus.
Put money you don’t want to touch for a while, like your child’s college tuition or your retirement fund.
This is great for people with higher net worth or low income in retirement. If that sounds like you that you should open a account and start saving now!
Find all the best Discover Bank Promotions!
For more, see our list of the best CD rates:
- Best 6-Month CD Rates
- Best 9-Month CD Rates
- Best 12-Month CD Rates
- Best 18-Month CD Rates
- Best 24-Month CD Rates
- Best 36-Month CD Rates
- Best 48-Month CD Rates
- Best 60-Month CD Rates
- Best No Penalty CD Rates
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover® Bank Online Savings terms apply | 3.90% APY | Review |
| Discover® Checking | $360 Cash Back | Review |
| Discover® Bank CD | Up to 4.10% APY | Review |
| Discover® Bank Money Market | Up to 3.75% APY | Review |
| Discover® Bank IRA CD | Up to 4.10% APY | Review |
| Consumers Credit Union | 4.70% APY 9-Month Certificate | Review |
| Rising Bank | 4.65% APY 6-Month CD | Review |
| Service Credit Union | 4.50% APY 6-Month CD | Review |
| Ponce Bank | 4.40% APY 3-Month High Yield CD | Review |
| Alliant Credit Union | 4.30% APY 12-Month Certificate | Review |
| Live Oak Bank | 4.30% APY 12-Month CD | Review |
| Quontic Bank | Up to 4.25% APY CD | Review |
| Live Oak Bank | 4.30% APY 12-Month Business CD | Review |
| Rising Bank | 4.30% APY 12-Month CD | Review |
| Ponce Bank | 4.20% APY 4-Month No-Penalty CD | Review |
| Discover Bank | 4.10% APY 12-Month CD | Review |
| First Mid Bank & Trust | 4.08% APY 9-Month CD | Review |
| Western Alliance Bank | 4.05% APY 3-Month CD | Review |
| Sallie Mae | 4.00% APY 14-Month CD | Review |
| Blue Federal Credit Union | 4.00% APY 9-Month No Penalty CD | Review |
| Sun Canyon Bank | 3.98% APY 11-Month CD | Review |
| Sallie Mae | 3.95% APY 10-Month CD | Review |
| Western Alliance Bank | 3.85% APY 5-Month CD | Review |
| GreenState Credit Union | 3.80% APY 10-Month CD | Review |
| Blue Federal Credit Union | 3.75% APY 15-Month CD | Review |
| Western Alliance Bank | 3.75% APY 6-Month CD | Review |
| Southwestern National Bank | 3.65% APY 5-Month CD | Review |
| CIT Bank | 3.50% APY 13-Month CD | Review |
| CIT Bank | 3.50% APY 11-Month No-Penalty CD | Review |
| Southwestern National Bank | 3.40% APY 8-Month CD | Review |
| Western Alliance Bank | 3.00% APY 12-Month CD | Review |
| First Financial Northwest Bank | 3.00% APY 12-Month CD | Review |
| Ponce Bank | 3.00% APY 1-Month High Yield CD | Review |
| Southwestern National Bank | 3.00% APY 10-Month CD | Review |
| CIT Bank | 3.00% APY 6-Month CD | Review |
| CIT Bank | 3.00% APY 18-Month CD | Review |
This is the wrong rate that is posted for discover bank @3.20%
If you go to Discover bank the rate for a 12 month CD is 2.30%.
yes,, I have a bunch @ 12 mo. The interest offered to go longer isn’t much (%.05 extra).
I consider that the long term of CD from DISCOVER is pretty good; but I wonder if there are other Bank is even better than this one; please tell me.
RE: DISCOVER 12 month CD
I’m 71 and not looking for a long term investment.
Can one person open two 12 month account at the same time?
Great Info. ..thanks.
What is the penalty for early withdrawal? Is it the same for all term lengths?