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Discover Bank Revamps CD Rates, Maintains Strong Savings APY: Navigating the New Financial Landscape

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Last updated 03/19/2024 by
SuperMoney Team
Edited by
Andrew Latham
Andrew Latham
Summary:
Discover Bank has recently updated the annual percentage yields (APYs) on its Certificate of Deposit (CD) accounts, while the APY for its Online Savings Account remains a robust 4.65%.
Discover Bank has made significant changes to the APYs on its CD accounts. The Discover Bank Online Savings continues to offer an attractive 4.65% APY, providing a wide selection of options for savers.

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Updated APYs for Discover Bank’s CD Accounts

Discover Bank’s recent APY adjustments on its CDs provide a wide selection of options if you are interested in CD laddering.
APY (Annual Percentage Yield) range:2.00% – 5.00%
6-Month APY (CD6M)4.35%
9-Month APY (CD9M)4.50%
12-Month APY (CD12M)5.00%
18-Month APY (CD18M)4.70%
24-Month APY (CD24M)4.30%
30-Month APY (CD30M)4.10%
36-Month APY (CD36M)4.10%

Key takeaways

  • Stable Savings Rate: The Online Savings Account continues to offer a high 4.65% APY.
  • Updated CD Rates: Discover Bank adjusts APYs on CD accounts, reflecting market trends and customer needs.
  • Diverse Savings Options: With terms ranging from six months to three years, Discover Bank caters to various savings preferences.
  • Digital Banking and Security: Discover Bank combines technological innovation with customer security, providing a convenient and safe banking experience.

About Discover Bank

Discover Bank, a subsidiary of Discover Financial Services, offers a range of financial products including savings and checking accounts, credit cards, and loans. Established in 1911, Discover Bank has grown to become a key player in the financial sector, recognized for its high-yield savings accounts and innovative banking solutions.

Pro Tip

A good saving account provides competitive annual percentage yields (APYs) and doesn't charge fees. SuperMoney reviewed hundreds of savings accounts and these are our top picks of the best savings accounts on the market

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