Discover® Bank CD is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs.
Last Updated: 12/05/2025
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Discover® Bank CD
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in CD Accounts from Discover® Bank
Last Updated: 12/05/2025
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
2.00% - 4.05%(Verified 11/05/2025)
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Minimum Opening Deposit
$0
Certificate 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
Number of Reviews
Discover® Bank CD Review
Discover® Bank CD is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs. |
Discover® Bank CD are offered by Discover® Bank, a bank founded in 1985 and based in Riverwoods, IL. Discover® Bank are available in 50 states and Washington, DC.
Key Takeaways
- Guaranteed returns. No account fees. Lock in your rates with terms from 3 months to 10 years.
- Only one CD type available. Discover® Bank only offers traditional CD accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.05%, which is much higher than the national average for a CD account.
- No minimum initial deposit. There is no minimum balance required to open an account.
- Wide selection of CD terms. Discover® Bank allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of Discover® Bank CD
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Discover® Bank CD FAQ
Are CD from Discover® federally insured?
Yes, your Discover® Bank CDs 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?
Discover® Bank provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
What rates does Discover® Bank offer on its CDs?
Discover® Bank offers an APY starting at 2.00% and ranging up to 4.05%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.
What terms does Discover® Bank offer?
Discover® Bank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 2.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 4.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 2.00% - 4.05% (see terms and conditions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 7-Year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 18-Month APY | 3.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 9-Month APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 30-month APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10-year APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Discover® Bank?
Discover® Bank does not require a minimum deposit.
What is the grace period for Discover® Bank?
There is a 9-day grace period for Discover® Bank. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 9-day grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does Discover® Bank charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
Discover® Bank charges an early withdrawal fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| No Early Withdrawal Fee? | (see terms and conditions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 6:00PM
Tuesday
9:00AM - 6:00PM
Wednesday
9:00AM - 6:00PM
Thursday
9:00AM - 6:00PM
Friday
9:00AM - 6:00PM
Saturday
8:30AM - 1:00PM