Discover Bank CD rates


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Discover is an online bank that offers one style of CD that requires a $2,500 minimum deposit. Once you meet that requirement, the amount you deposit has no impact on the CD’s interest rate.

Discover offers a wide range of terms, making it easy to set up a CD ladder.

Discover Bank earned 4.1 out of 5 stars in Bankrate’s review across its deposit products.

Discover CD rates

Account name Term APY Minimum deposit
CD 3 months 0.25% $2,500
CD 6 months 0.45% $2,500
CD 9 months 0.55% $2,500
CD 12 months 0.60% $2,500
CD 18 months 0.60% $2,500
CD 24 months 0.65% $2,500
CD 30 months 0.70% $2,500
CD 36 months 0.70% $2,500
CD 48 months 0.70% $2,500
CD 60 months 0.80% $2,500
CD 84 months 0.80% $2,500
CD 120 months 0.80% $2,500

Note: The APY (Annual Percentage Yield) shown is as of Oct. 23, 2020. The APYs for some products may vary by region.

How Discover rates compare to top-yielding banks

Discover’s CD rates are competitive. You might find slightly higher or lower rates elsewhere, but the difference won’t be extreme. A major perk of Discover’s CD offering is the wide variety of terms, making it easy to build a CD ladder, for instance.

If your goal is to earn the most interest possible, you may find slightly higher rates on certain CD terms elsewhere. Delta Community Credit Union and VyStar Credit Union are among the banks competing on rate. Some competitors may also have lower minimum deposit requirements.

Other savings options at Discover

Discover also offers savings and money market accounts. Both pay slightly lower interest rates than CDs with terms of a year or longer. Still, these accounts can be worth considering if you value having more flexible access to your cash.