Discover Bank CD rates

The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
Discover Bank offers certificates of deposit in 12 terms that require a $2,500 minimum deposit. Each term pays the same annual percentage yield on all balances. It is one of the few banks to offer a 10-year CD.
Discover Bank earned 4.8 out of 5 stars in Bankrate’s review across its deposit products and 4.3 out of 5 stars for its CDs.
Discover Bank CD rates
Discover CDs offer varying APYs depending on the term. Penalties apply for early withdrawals, which may reduce the principal balance. At maturity date, the balance can be withdrawn or renewed automatically.
Account name | Term | APY | Minimum deposit |
CD | 3 months | 2.00% | $2,500 |
CD | 6 months | 3.40% | $2,500 |
CD | 9 months | 3.50% | $2,500 |
CD | 1 year | 5.00% | $2,500 |
CD | 18 months | 5.00% | $2,500 |
CD | 2 years | 4.30% | $2,500 |
CD | 30 months | 4.30% | $2,500 |
CD | 3 years | 4.30% | $2,500 |
CD | 4 years | 4.00% | $2,500 |
CD | 5 years | 4.00% | $2,500 |
CD | 7 years | 3.80% | $2,500 |
CD | 10 years | 3.80% | $2,500 |
Note: Annual percentage yields (APYs) shown are as of Sept. 28, 2023 and may vary by region for some products.
How Discover rates compare to top-yielding banks
Discover’s CD rates are competitive, though some other online banks may offer slightly higher rates, depending on the term. Discover’s broad selection of CD terms makes it easy to find a term suited to a specific savings goal or to build a CD ladder.
Some competitors may also have lower minimum deposit requirements. For example, Capital One offers CDs with no minimum balance to open one. Shop around to find the best CD that fits your needs.
Other savings options at Discover
Discover also offers a savings account and a money market account. Moreover, Discover recently began offering its Cashback Debit account again. These accounts may be worth considering for those who value access to their cash at any time.
Related Articles




Related Articles



