Discover Bank CD Reviews (Sep. 2020) | CD Accounts

Highlights
Minimum Initial Deposit	$2,500
Deposit Term	3 months 6 months 9 months 12 months 18 months 2 years 30 months 3 years 4 years 5 years 7 years 10 years
APY (Annual Percentage Yield)	0.35% - 2.2%

Discover Bank CD Review

Discover Bank CD is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. Discover Bank CD is available in 50 states (and Washington, DC).

Discover Bank CD FAQ

Are cd accounts from Discover Bank federally insured?

Yes, your Discover Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Discover Bank offer?

IRA
Traditional

What APY does Discover Bank offer on its CDs?

Discover Bank CD offers an APY starting at 0.35% and ranging up to 2.2% (APY stands for annual percentage yield, rates may change).

What types of terms does Discover Bank CD offer?

Discover Bank offers CD terms of the following lengths:

Discover Bank CD Rates & Terms
Description
APY (Annual Percentage Yield)	0.35% - 2.2%
APY Type	Fixed APY
3-Month APY	0.35%
6-Month APY	0.65%
11-Month APY	N/A
12-Month APY	1.01%
2-Year APY	1.1%
3-Year APY	1.15%
4-Year APY	1.15%
5-Year APY	1.25%
7-Year APY	1.25%

What is the minimum deposit to open a CD account with Discover Bank?

Discover Bank CD requires a minimum initial deposit of $2,500 to open an account.

What types of early withdrawal penalties does Discover Bank CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Discover Bank does not charge an early withdrawal fee.

Discover Bank CD Fees
Description
Annual Fee	N/A
Transfer Fee	N/A
Rollover Fee	N/A
Early Withdrawal Fee Amount	N/A

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