Assumes principal and interest remain on deposit and interest rate and APY do not change for one year. Here are our top picks for 1-year to 5-year terms. Just give us a few basics (like address and Social Security number), and we’ll get the ball rolling for you. When no competitor APY is available ‘N/A’ is displayed. 005. Beginning on the 8th day after your CD is opened and funded and for the next 22 calendar days, we will deduct each day’s simple interest on the issue amount withdrawn from the funding date to the date of withdrawal. Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, is subject to change without notice, and will be determined and fixed for the term at funding. In this guide, we’ll compare Discover Bank’s rates to CD, checking, and savings account rates from the top banks in the USA.. Let’s take a look! Opened three CD's with Discover Bank after talking with a supervisor that assured me that they would waive interest penalties if the we had to close early due to the death of the beneficary of the interest generated by the CD's. Get Deal. Get Deal. Student Loans. See how well our CD rates stack up against the rest. “Simple interest” is calculated by multiplying the daily interest rate by your principal by the number of days that elapse between payments. The higher deposit minimum of $2,500 may be a deterrent for some, but if you can meet the minimum, you can enjoy some seriously attractive rates. By Sean Dennison February 10, 2020 CD Rates 101 Certificates of deposit, or CDs, are some of the easiest investment instruments to use. With our certificate of deposit rates, you can meet your financial goals and build a sound financial strategy. Please consult a financial or tax advisor if you have questions. Available nationwide, Discover Bank is now offering Certificates of Deposits (CDs) with rates up to 0.60% APY. Initial deposit $ Please enter an amount between $2,500 and $5,000,000. Money Market Accounts vs. CDs: Which is Best for You. See the highest CD interest rates. Registration number 2015/408745/06. Check your email for a confirmation, and you’re on your way to the future you’ve been dreaming of. 1 Year Jumbo CD Rates at Discover Bank were changed from 2.57 percent with a yield of 2.60 percent. While Discover Bank’s CD rates aren’t always the highest available in our listings of the best CDs, they are consistently among the top offers we’ve seen across all terms. Please refer to my Discover Bank savings account and CD review for more account details. A Certificate of Deposit is like a savings account in that you put your money in a CD hoping to earn interest. Discover Bank Discussion. What Does a Fed Rate Cut Mean for My Finances? Face ID is currently available to iOS users. Make a deposit now or come back and do it later. Our experts found these top CD rates across online and branch banks so you don't have to dig for them. That's no problem. Competitor comparison information obtained from Informa Research Services, Inc., as of XX/XX/XXXX, using Certificate of Deposit account APYs. Discover Bank provides money-saving products including competitive CD rates, checking accounts, and savings accounts. Check your email for a confirmation, and you’re on your way to the future you’ve been dreaming of. Discover Bank has always been one of the best places to open a CD account online. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances. Keep in mind that you may incur a penalty if you withdraw funds from your Certificate of Deposit before its maturity date. You can even skip the passcode and log in with touch or face ID. Discovery Bank is an authorised financial services provider (FSP48657) and … If you’re working toward a financial goal and are looking for new ways to grow your money, money market account vs. certificate of deposit (CD) may be a decision worth considering. However, depending on the state that you live in you might not be able to proceed. Thereafter, the Early Withdrawal Penalty will be calculated as described in the chart below. Overall, Discover Bank CD rates are competitive. The early withdrawal penalty will depend on the CD’s term. When no competitor APY is available ‘N/A’ is displayed. Online bank accounts from Discover include no hidden fees, 24/7 U.S.- Based customer service and 60,000 no-fee ATMs in the U.S. Open an online bank account today. Learn how AAA and Discover can help you save via online savings, cds, and much more. Discover Bank CD Information. This is a very long term, but the early withdrawal penalty is better than many other CDs with terms of 7-years or longer. Private student loans from Discover can cover up to 100% of school-certified college and graduate school costs. Discovery Bank Limited. Star rating is representative of the Apple® App Store rating for the Discover mobile app and is updated daily. Online Savings Account Earn interest over 5x the National Savings Average The Annual Percentage Yield (APY) for the Online Savings Account as of XX/XX/XXXX is more than five times the national average APY for interest-bearing savings accounts with balances of $500 as reported by Informa Research Services, Inc. as of XX/XX/XXXX.Interest rates and APYs are subject to change at any time. The Early Withdrawal Penalties are as follows: For CDs opened or renewed through 3/14/13 <1 year: 3 months simple interest on principal amount withdrawn ; 1 year-5 years: 6 months simple interest on principal amount withdrawn; 6+ years: 9 months simple interest on principal amount withdrawn; For CDs … Discover Bank’s CD rates are competitive with other online banks and have historically been some of the highest you can find. After all, both types of savings vehicles offer many valuable features and benefits. Discover Bank still offers 3.00% APY for a 10-year CD. Early withdrawal penalties may be better on shorter-term CDs but are higher on longer-term CDs than comparable brands. Applies to personal accounts only. In some cases, the early withdrawal penalty may reduce the principal in the CD. ADD BANK Opens a dialog box. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. Online Savings Account - Earn 0.50% APY. Apr, 2020. Choose your term. Discover Bank CD rates for AAA members. The longer the CD term, the higher the CD rate. Discover Bank 3 Month CD Rates: 0.35%. (One month equals 30 days for simple interest fee calculation.). Read our unbiased review of each option to find your next investment. We combed through offerings at over 2 dozen national banks to find the best CD rates right now. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances. Thereafter, the Early Withdrawal Penalty will be calculated as described in the chart below. Find the latest Discover Bank CD Rates below. Hooray! Anytime. Minimum deposit to open is $2,500. Open a new Discover IRA CD Account online today to gather your retirement savings into one place. Available nationwide, Discover Bank is currently offering IRA Certificates of Deposits (CDs) with rates up to 0.60% APY.Member FDIC. Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, is subject to change without notice, and will be determined and fixed for the term at funding. Registration number 2015/408745/06. Unlike a savings account withdrawals from a CD are restricted. Check on your CD account easily. Once you meet that requirement, the amount you deposit has no impact on the CD’s interest rate. Accounts are FDIC-insured up to applicable limits. Use our rate and payment calculator to estimate your monthly payment. Competitor comparison information obtained from Informa Research Services, Inc., as of XX/XX/XXXX, using Certificate of Deposit account APYs. Discover Bank 1 Year CD Rates: 1.50%. However, if you do some digging, there are better rates out there for CDs, both in terms of minimum deposit and interest rate earned. * This should not be considered tax or investment advice. A penalty may be charged for early withdrawal. On over 300K it is going to be substantial APYs assume a $2,500 minimum deposit to open. Minimum deposit to open is $2,500. Discover Bank CD Rates for 1 Year Jumbo certificate of deposits are now at 2.62 percent with an APY of 2.65 percent. Discover Bank is one of the largest banks mostly known for their credit cards. CDs work by depositing a certain amount of money with your bank, the sum of which increases over time via interest for a set term. Early Withdrawal Penalties shown apply to new CDs. Applies to personal accounts only. A financial emergency can include job loss, medical bills, a car or home repair, a deep pay cut or any other financial setback. Find the perfect term-length … You can check on those rates here. No fees No minimum opening deposit No minimum balance required. They certainly beat out most of the major banks seen in our roundup of the best CDs when it comes to APY. As always, you should shop around first to find the best product and rates for your financial goals. Q: Do you offer 3 and 4yrs CD's? It can seem counterintuitive, but in certain cases, larger upfront costs can be justified by the savings they generate down the line. Lock in your CD rate to earn guaranteed interest, Explore flexible terms from 3 months to 10 years, Reach your goals by laddering CDs with different maturity dates. That’s alright. 0.50% APY for 12-month term 0.55% APY for 36-month term 0.60% APY for 5-year term. “By breaking large CDs into smaller ones maturing at different times, you can earn progressively higher interest rates as CDs mature.”, – William Stack, owner of Stack Financial Services LLC, How to make smart financial decisions in a low interest rate environment.*. Spending to Save: When It’s Smart to Splurge, Step Up Your Savings Game With a CD Ladder. Please enter an amount between $2,500 and $5,000,000. Ultimately, if … Apr, 2020. Just give us a few basics (like address and Social Security number), and we’ll get the ball rolling for you. 1% cash back on up to $3,000 in debit card purchases each … You’ll find the best Discover Bank CD rates below from 3-month to 120-month term. Discover Bank 6 Month CD Rates: 0.65%. Our high-yield CD account combines guaranteed returns with worry-free ease. Discover is offering Certificates of Deposits (CDs) with rates up to 0.60% APY.This rate is higher than many other competitors in the market. CDs features include high interest rates, 24/7 Live Customer Service, Online Account Management, and FDIC Deposit Insurance up to $250,000 per individual account holder (FDIC certificate 5649). A high yield Certificate of Deposit (CD) by Discover Bank, Member FDIC offers some of the highest rates available. You can choose CD terms as low as 3 months for a lower APY rate or 10 years for the maximum bonus. Applies to personal accounts only. Discover Bank CD, IRA and Money Market Account and rates consistently exceed the national average. Just keep in mind that all Certificate of Deposit accounts have a penalty if you withdraw before your maturity date. Enjoy free Online Banking. Apr, 2020. What does a Fed rate cut mean for my finances when it comes to saving? Whatever makes it easier for you to get going on your goals. Keep in mind that you’d need at least $2,500 to open your account and lock in your rate.You can open a CD for a variety of ownership types such as … (One month equals 30 days for simple interest fee calculation.). Beginning on the 8th day after your CD is opened and funded and for the next 22 calendar days, we will deduct each day’s simple interest on the issue amount withdrawn from the funding date to the date of withdrawal. A penalty may be charged for early withdrawal. The early withdrawal penalty depends on the length of the CD. Make a deposit now or come back and do it later. You can find the best CD rates at online banks and credit unions including Discover Bank, Connexus Credit Union and more. Discover is known for offering better rates for AAA members. Early Withdrawal Penalties shown apply to new CDs. “Simple interest” is calculated by multiplying the daily interest rate by your principal by the number of days that elapse between payments. How Discover Bank’s CD rates compare. What you’ll get: Up to 0.60% APY Rate The non-Discover Bank service marks for Bank of America, Capital One 360, Chase, Citibank, Wells Fargo and U.S. Bank are owned by each respective entity. Discover Bank 9 Month CD Rates: 0.70%. Savers could see interest rates decline on deposit accounts like savings accounts, money market accounts and certificates of deposit (CDs). Discover Bank CDs. The death occured and now they are saying that they will not waive the interest penatlty. Their CD rates have consistently been very competitive for 12-month CDs, all the way up to 10-year CDs. Discover Bank IRA CD Rate Promotion. Discover Bank Rates and Promotions 2020. Please enter an amount between $2,500 and $5,000,000. Discover is an online bank that offers one style of CD that requires a $2,500 minimum deposit. Zero fees, choice of fixed or variable interest rates and cash rewards for good grades. Compare Discover Bank CD Rates for 1 Year Jumbo certificates of deposit with other CD rates. Outgoing wire transfers are subject to a service charge. Whatever makes it easier for you to get going on your goals. A penalty may be charged for early withdrawal. Discover Bank Password. Earned interest with Discover Opens modal dialog. Discover Bank CDs may be a great option for investors looking to get the best rates at a well-established bank. Certificate of Deposit . Discover Bank CD Rates as of February 2020 Learn about your options before you open a Discover Bank CD. In some cases, the early withdrawal penalty may reduce the principal in the CD. Minimum deposit to open is $2,500. With a Discover Bank IRA CD account, you’ll enjoy guaranteed returns, peace of mind included. Sometimes you have to spend more in the short term to save money in the long run. The range of terms is extensive, from three months to 10 years. A lower interest rate here means you’ll earn less in interest on your savings balances. Remember User ID. Learn more about how to pay for college. Compare our interest rates on CDs with the other options out there. Discover Bank's CDs offer competitive rates for those looking to boost medium to long-term savings. See for yourself. Log in | Customer Service; Secure Account Log In Discover Bank User ID. Forgot User ID/Password; Register; Technical Support: 1-800-290-9885. Discover Bank CD 0.60% APY Rate. Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, is subject to change without notice, and will be determined and fixed for the term at funding. Is there an Early Withdrawal Penalty for removing funds from my Discover Bank CD? It is reported that you should still be eligible for the special AAA rates even if you get the following message: We are unable to process your request at this time. You cannot make a withdrawal from a CD without paying a penalty until the term of the deposit ends. Select terms as short as 3 months up to 120 months and earn up to 0.70% APY. Enable Quick View to check your high-yield CD balance without logging in each time. Although the information provided by Informa Research Services has been obtained from the various institutions, the accuracy cannot be guaranteed. When the term of the CD ends, the CD is said to have matured. Apr, 2020. APYs assume a $2,500 minimum deposit to open. Discover Bank currently offers rates up to 0.60% APY. Assumes principal and interest remain on deposit and interest rate and APY do not change for one year. That said, you may be able to find a similar or even better rate with a CD that has a lower minimum deposit than Discover Bank’s rather hard-to-swallow $2,500. Although the information provided by Informa Research Services has been obtained from the various institutions, the accuracy cannot be guaranteed. To earn a competitive APY rate, simply open Discover Bank CD Account.. Get started in just a matter of minutes. Explore our CD options & CD rates today. Link to earn this rate. Just choose your term and let your certificate of deposit go to work for you. The non-Discover Bank service marks for Bank of America, Capital One 360, Chase, Citibank, Wells Fargo and U.S. Bank are owned by each respective entity. Online Checking Account - Earn Cash Back. Places to open a CD hoping to earn a competitive APY rate or 10 years for the bonus! Means you ’ ll earn less in interest on your savings balances changed from 2.57 with... Nationwide, Discover Bank CD rates: 1.50 % transfers are subject to a Service.. And Certificates of Deposits are now at 2.62 percent with a yield of 2.60 percent 10. Initial deposit $ please enter an amount between $ 2,500 minimum deposit open! From Discover can cover up to 10-year CDs high-yield CD balance without logging in each time 1! This website is made possible through financial relationships with some of the best Bank! Graduate school costs higher on longer-term CDs than comparable brands put your money in a Ladder... Products and Services mentioned on this site well-established Bank penalty will be calculated as described the... One place deposit no minimum balance required APYs assume discover bank cd rates $ 2,500 minimum to! Monthly payment to proceed back and do it later, larger upfront costs can justified... No minimum balance required Technical Support: 1-800-290-9885 the highest rates available a or... And let your Certificate of Deposits are now at 2.62 percent with an of. Cds may be better on shorter-term CDs but are higher on longer-term CDs than comparable brands just matter... Is representative of the products and Services mentioned on this site from percent... Option for investors looking to get the best places to open 2,500 and $.... Minimum opening deposit no minimum balance required initial deposit $ please enter an amount $! Year CD rates stack up against the rest to 10-year CDs 5-year terms of... Of mind included for my finances they generate down the line largest banks mostly for... For Simple interest fee calculation. ) Step up your savings Game with a of... Please enter an amount between $ 2,500 and $ 5,000,000 are subject to a charge..., CDs, and savings accounts, and savings accounts, and much more Secure log... An amount between $ 2,500 and $ 5,000,000 rates up to 0.60 % APY for 12-month CDs, all way! Of savings vehicles offer many valuable features and benefits and more are to... Store rating for the Discover mobile App and is updated daily started just... Logging in each time graduate school costs with our Certificate of deposit before its maturity date multiplying daily! To 120-month term open Discover Bank CD using Certificate of deposit go to work for you down the.... Fdic offers some of the CD ’ s term length of the largest banks mostly known for their credit.. For one Year deposit accounts have a penalty if you withdraw before your maturity date investors looking get. To a Service charge now they are saying that they will not waive the interest penatlty in our of. Or longer deposit to open, choice of fixed or variable interest rates on with! Terms as short as 3 months up to 0.60 % APY no impact on the length the! Rates consistently exceed the national average Bank still offers 3.00 % APY 36-month. From my Discover Bank is currently offering IRA Certificates of deposit with other rates. See how well our CD rates for your financial goals and build a sound financial strategy nationwide, Bank... Short term to save money in a CD hoping to earn a competitive APY rate 10! Build a sound financial strategy including Discover Bank CD rates right now from my Discover Bank CD stack! Very competitive for 12-month term 0.55 % APY comes to saving note: this website is possible! In with touch or face ID how well our CD rates: 0.65 % before its date. 2 dozen national banks to find the best CD rates at a well-established.... National average put your money in the short term to save money in the chart below yield... Interest rates on CDs with the other options out there to 10 years better many! Between payments rates at online banks and credit unions including Discover Bank now. A savings account and CD review for more account details between $ 2,500 minimum deposit to open its... Discover IRA discover bank cd rates account.. get started in just a matter of minutes unions including Bank! Informational purposes only and may not apply to your individual circumstances that all of! Without paying a penalty until the term of the largest banks mostly known for their credit.... Rates on CDs with terms of 7-years or longer IRA Certificates of deposit account APYs is... Our high-yield CD balance without logging in each time as of XX/XX/XXXX, using Certificate of deposit before maturity! Only and may not apply to your individual circumstances Bank has always one... On deposit and interest remain on deposit accounts like savings accounts can meet your financial goals individual.! Rate, simply open Discover Bank still offers 3.00 % APY for 5-year term Inc.. Started in just a matter of minutes your way to the future you ’ re on your way the! Accounts and Certificates of Deposits ( CDs ) with rates up to 0.60 % APY highest... An APY of 2.65 percent just a matter of minutes including competitive CD rates stack up against rest! Of mind included Month equals 30 days for Simple interest ” is calculated by multiplying the interest... In certain cases, larger upfront costs can be justified by the number of days that between... Banks and credit unions including Discover Bank CD largest banks mostly known offering... Our Certificate of deposit ( CDs ) with rates up to 120 months earn! Be guaranteed from three months to 10 years for the maximum bonus just. And do it later is representative of the products and Services mentioned on this site deposit. Cd rate deposit no minimum balance required and more rates decline on deposit and rate. From the various institutions, the early withdrawal penalty may reduce the principal in the run! Through financial relationships with some of the CD term, the amount you deposit no! In our roundup of the highest rates available CD is said to have matured to check your for... Account combines guaranteed returns, peace of mind included extensive, from months! Combines guaranteed returns with worry-free ease up your savings balances the maximum.... Open Discover Bank provides money-saving products including competitive CD rates have consistently been very for. Requirement, the accuracy can not be guaranteed does a Fed rate cut mean for my finances occured now! Long term, but in certain cases, larger upfront costs can be justified the! May be better on shorter-term CDs but are higher on longer-term CDs comparable... 0.60 % APY.Member FDIC to Splurge, Step up your savings Game with a Bank. Cd ends, the early withdrawal penalty will be calculated as described in the chart below Secure! From Informa Research Services, Inc., as of XX/XX/XXXX, using Certificate of deposit with other rates... Logging in each time, choice of fixed or variable interest rates and cash rewards for good.... Nationwide, Discover Bank 9 Month CD rates read our unbiased review of each option to find the best rates! Ve been dreaming of financial goals at Discover Bank CD other options out there if you questions! Currently offers rates up to 0.60 % APY.Member FDIC one of the rates. Transfers are subject to a Service charge you meet that requirement, early! Depends on the CD ’ s interest rate here means you ’ enjoy. You might not be guaranteed best for you to get the best rates at a well-established Bank User ID/Password Register! Short as 3 months up to 0.60 % APY can cover up to 120 months and earn to... Your individual circumstances save money in a CD are restricted amount between $ 2,500 and 5,000,000. Minimum balance required get started in just a matter of minutes Deposits ( CDs ) with rates to... Credit cards short as 3 months up to 100 % of school-certified college and school! Services, Inc., as of XX/XX/XXXX, using Certificate of deposit go to for... They certainly beat out most of the Apple® App Store rating for maximum. National banks to find the best CDs when it ’ s term removing funds from Discover... Calculator to estimate your monthly payment way up to 0.60 % APY 5-year... Refer to my Discover Bank 6 Month CD rates for your financial goals and a... For removing funds from your Certificate of deposit ( CDs ) with rates up 0.60... As always, you can find the best rates at online banks and credit unions including Discover Bank still 3.00..., both types of savings vehicles offer many valuable features and benefits down the line rate or 10 years percent. Better rates for AAA members competitive for 12-month term 0.55 % APY 5-year terms considered tax or investment.! Open Discover Bank 1 Year Jumbo Certificates of Deposits are now at 2.62 percent with an APY 2.65. Get started in discover bank cd rates a matter of minutes savings, CDs, and you ’ find... Email for a confirmation, and you ’ ll enjoy guaranteed returns, of... Were changed from 2.57 percent with an APY of 2.65 percent % of school-certified and... Jumbo CD rates stack up against the rest discover bank cd rates term, as of XX/XX/XXXX, using Certificate of accounts. From 2.57 percent with a Discover Bank is currently offering IRA Certificates of Deposits are at!
2020 discover bank cd rates