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Discover Bank

in CDs

Unaffiliated Visit Site

Discover Bank

Unaffiliated

in CDs

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Overview

Discover provides a variety of CD products that range from 3 months to 120 months. As of October 2015, the maximum APY is 2.30% (120 months).

- The minimum amount to open an account is $2,500 and there is a penalty fee for early withdrawal that ranges from 3 to 15 months simple interest on the amount withdrawn.

- Interest is calculated daily and there is no fee for incoming wire transfers or bank checks. There is, however, a $30 fee for outgoing wire transfers that is waived for IRA CDs.

As of October 2016, these are the APY rates Discover offers. 

3 months     0.35%
6 months     0.65%
9 months     0.70%
12 months   1.15%
18 months   1.20%
24 months   1.30%
30 months   1.35%
36 months   1.50%
48 months   1.60%
60 months   1.76%
84 months   1.95%
120 months 2.20%

These are the APY rates for Discover's Money Market accounts (as of October 2016):

$1,000 - $2,499      0.80%
$2,500 - $4,999      0.80%
$5,000 - $9,999      0.80%
$10,000 - $24,999  0.80%
$25,000 - $49,999  0.80%
$50,000 - $99,999  0.80%
$100,000 +             0.85%
 

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...

Feature Breakdown

Early Withdrawal Fee
Minimum Amount
$2,500
Deposit Term
  • 3 months
  • 6 months
  • 1 year
  • 2 years
  • 3 years
  • 4 years
  • 5 years
12-month APY
1.25%

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