Discover Bank CD Rates
Current Discover Bank CD Rates
Updated As of February 16, 2010:
| Rate Chart | As of 02/16/10 | |
|---|---|---|
| Term | Interest Rate | APY** |
| 3 Months | 0.75% | 0.75% |
| 6 Months | 1.00% | 1.00% |
| 9 Months | 1.09% | 1.10% |
| 12 Months | 1.69% | 1.70% |
| 18 Months | 1.78% | 1.80% |
| 24 Months | 2.13% | 2.15% |
| 30 Months | 2.18% | 2.20% |
| 3 Years | 2.47% | 2.50% |
| 4 Years | 2.62% | 2.65% |
| 5 Years | 3.15% | 3.20% |
| 7 Years | 3.34% | 3.40% |
| 10 Years | 3.63% | 3.70% |
Discover Bank is much more well known for the Discover Card credit card, but the Discover Bank CD rates are attractive. Discover Bank offers certificates of deposit accounts with terms from 3 months to 10 years. Its bank CD rates are worthy of reviewing.
This review of the Discover Bank CD rates is aimed at helping you find the best certificate of deposit term length at Discover Bank. It will also explain some of the important things you need to know about the Discover Bank certificates of deposits.
Current Discover Bank CD Rates
As mentioned above, Discover Bank CDs come in terms as short as 3 month CDs to 10 year CDs. The current Discover Bank CD Rates are as follows:
As of: December 30, 2008
| Term | Interest Rate | APY1 |
|---|---|---|
| 3 months | 1.49% | 1.50% |
| 6 months | 1.99% | 2.00% |
| 9 months | 2.28% | 2.30% |
| 1 year | 2.72% | 2.75% |
| 1½ years | 2.72% | 2.75% |
| 2 years | 3.06% | 3.10% |
| 2½ years | 3.11% | 3.15% |
| 3 years | 3.40% | 3.45% |
| 4 years | 3.69% | 3.75% |
| 5 years | 3.93% | 4.00% |
| 7 years | 4.17% | 4.25% |
| 10 years | 4.17% | 4.25% |
Best CD Rates
If you are looking for the best CD rates being offered by Discover Bank, the 4.00% 5 year CD looks to be the most attractive rate. However, if you are looking for a shorter term CD, if I had to choose one of the above, I would choose the Discover Bank 2 year CD with 3.10 % APY CD interest rate.
Are Discover Bank Certificates of Deposits FDIC Insured?
Yes, Discover Bank CDs are FDIC insured up to the FDIC limits. I would never deposit money in any CDs that are not FDIC insured.
Discover Bank CD Minimum Deposit Requirements
Discover Bank CD Accounts require a minimum deposit of $2500 to purchase a certificate of deposit. I typically like banks that require less of a minimum deposit. You can find banks with $500 minimum deposit requirements.
I hope that you found this Discover Bank CD rates review to be helpful. If you have any questions about the Discover certificates of deposits or about Discover Bank generally, please leave them in the comments below.
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Comments
One Comment on Discover Bank CD Rates
-
Sharon Skeen on
Sun, 25th Jul 2010 1:07 pm
What are your IRA/CDrates ant traditional rates right now?
Please send list of amounts needed to be deposited.
Thank You
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and oh, if you want a pic to show with your comment, go get a gravatar!
