Discover Bank CD Accounts
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Discover Bank offers more than just credit cards – they've got high interest rates on online savings accounts and certificates of deposit too. Discover Bank's accounts tend to remain on the top of the rate chart. CD Accounts require a minimum opening balance of $2,500.
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> Discover Bank CDs
Certificate of Deposit (CD) Rates
| Term | APY |
|---|---|
| 3 Month | 0.40% |
| 6 Month | 0.75% |
| 1 Year | 0.90% |
| 2 Year | 1.15% |
| 3 Year | 1.35% |
| 4 Year | 1.55% |
| 5 Year | 1.75% |
Rates as of 2-14-12. $2,500 minimum deposit required to open. APY = Annual Percentage Yield
Account Features
| Minimum Deposit | $2,500 |
| Compounding | Daily |
Early Withdrawal Penalties
For CD terms of Less than 1 year, 3 months simple interest will be charged on the amount withdrawn.
For CD terms of 1 year up to and including 5 years, 6 months simple interest will be charged on the amount withdrawn.
For CD terms of greater than 5 years, 9 months simple interest will be charged on the amount withdrawn.
Renewal Policy and Grace Period
Discover Bank will notify you approximately 3 weeks before your CD matures to offer you a variety of renewal options. If you don’t respond, your CD will automatically renew for the same term at the current rate. If you do not want your CD to automatically renew, you should notify the bank at least 10 calendar days prior to maturity.
The is also a 9 calendar–day grace period after your CD's maturity date, during which you can make changes to your account, such as adding or withdrawing funds or opting not to renew, without paying an early withdrawal penalty.
Discover Bank Reviews
Review from PeachyQueen
"So far, so good. I purchased a CD last week and had no trouble at all. ..."
Read More Discover Bank Reviews >>
Contact
www.discoverbank.com
(800) 347-7000