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Last Updated: 05/14/2026
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
2.00% - 4.05%(Verified 11/05/2025)
Disclaimer popup with additional information
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
| Pros | Cons |
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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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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
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SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +100, or 5 on a 5-point rating scale.
+100
-1000+100
No one recommends
Everyone recommends
Discover® Bank CD Community Reviews
Would you recommend Discover® Bank CD to your friends?
BM
Billy M.
Nov 17, 2023
May or may not recommend
Opting for a Discover Bank CD has proven a wise financial move for me. The CD accounts offer competitive rates and a secure way to grow savings. Discover's user-friendly platform simplifies the process, and the flexibility in terms caters to individual needs. With the assurance of FDIC insurance, I've found peace of mind while watching my money grow steadily over the chosen term.
LW
Lilac W.
Jul 13, 2023
May or may not recommend
I've been using Discover Bank CDs for a few years now, and I've been very happy with the experience. The rates are competitive, the terms are flexible, and the customer service is excellent.
I opened my first Discover Bank CD with a $2,500 deposit. I chose a 5-year term, and the interest rate was 3.5%. This was a good rate at the time, and it helped me to earn a little ...Show More
Neha S.
Jul 3, 2023
May or may not recommend
This bank offers competitive interest rates that help my savings grow over time. Discover's user-friendly online platform allows me to easily manage my CD and track its progress. I did invest my money in 3 to 9 months CD and getting good returns.
JG
Josephine G.
Mar 11, 2023
May or may not recommend
Discover Bank offers a variety of CD (Certificate of Deposit) accounts with competitive interest rates and flexible terms ranging from 3 months to 10 years. Their CDs require a minimum deposit of $2,500 and offer a fixed interest rate for the duration of the term.
One standout feature of Discover Bank's CD accounts is their no-fee policy, which means you won't be charged any fees for opening, maintaining, or closing your ...Show More
William S.
Feb 6, 2023
May or may not recommend
Previously I used to have a traditional bank and I got bored of having to call them up or visit a branch every time for practically everything, but ever since I started using Discover Bank CD account I realised how great it is as everything is done through the app, which makes everything more simple.
Traditional banks also have thousands of buzzwords that don't make sense unless you've taken a college ...Show More
SD
Sarah D.
Feb 3, 2023
May or may not recommend
Discover offers a high-quality web experience and its mobile banking apps receive high ratings from customers, and representatives are available by phone all day, every day. You also can reach the bank through mail and social media. There is a downside for those unwilling to let go of face-to-face banking: Unless you live near Greenwood, Delaware — where Discover Bank has its only branch — you’ll need to do your ...Show More
AS
Anny S.
Jan 30, 2023
May or may not recommend
I came to this bank recommended for a friend, and really like it and also recommend it to my loves ones, I open an account and have no monthly fees, is reliable, also have amazing offers for new clients. highly recomended.
BK
Ben K.
Jan 28, 2023
May or may not recommend
Discover’s online savings account comes with a competitive rate and no monthly fees. While the bank had offered a highly rated cash-back checking account, it is not available to new customers
Showing 8 of 8 reviews
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