Discover Bank is one of the largest banks mostly known for their credit cards. Discover is offering Certificates of Deposits (CDs) with rates up to 2.50% APY. This rate is higher than many other competitors in the market.
You can choose CD terms as low as 3 months for a lower APY rate or 10 years for the maximum bonus. Enjoy great service and 24/7 phone service. Interest rates on traditional Savings account can change the next day; however, CDs guarantee the rate for the length of the term.
To open the account, you need at least $2,500 to open your account and lock in your rate.
(Visit Discover for more details)
PROMOTIONAL LINK | OFFER | REVIEW |
Discover Bank Online Savings | $200 Cash | Review |
Discover Checking | $360 Cash Back | Review |
Discover Bank CD | Up to 2.50% APY | Review |
Discover Bank Money Market | Up to 0.55% APY | Review |
Discover Bank IRA CD | Up to 2.50% APY | Review |
Table of Contents
Discover Certificate of Deposit Summary
![]() • Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 0.30% APY up to 2.50% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Start today with a minimum deposit of $2,500! • Get started and open a Discover CD in 3 easy steps. |
Discover CD Rates and Information
Opening a new CD account with Discover is great because you can earn money just by saving it over time. The rates change accordingly on the type of contract.

CD Term | APY Rate |
---|---|
3-Month Term | 0.30% APY |
6-Month Term | 0.60% APY |
9-Month Term | 0.65% APY |
12-Month Term | 1.30% APY |
18-Month Term | 1.65% APY |
24-Month Term | 2.00% APY |
30-Month Term | 2.00% APY |
3-Year Term | 2.20% APY |
4-Year Term | 2.20% APY |
5-Year Term | 2.50% APY |
7-Year Term | 2.50% APY |
10-Year Term | 2.50% APY |
How To Open Discover Bank CD
Opening a CD is simple. You can do it online, step by step, or on the phone.
- Visit DiscoverBank.com.
- Enter your info: They need your address, phone, email and social security number.
- Fund your account: Open with as little as $2,500. You can send them a check or transfer funds from an existing bank account.
- Verify your information: Verify information and electronically sign your application.
- Confirmation email: They’ll send a confirmation email, then watch the mail for your Welcome Kit.
Other Discover Accounts To Consider
![]() Open a Discover Online Savings Account for all these features: • Bonus offer applies for your first Discover Online Savings Account • Earn $200/$150 Bonus with promo code HMB222 by 06/15/2022 • Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus • Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus • Earn high interest rate of 0.60% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 See advertiser website for full details |
![]() With the Discover Checking Account: • Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month • No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account. • Early Pay – Get your paycheck up to two days early with no charge • No credit impact - You can apply without affecting your credit score. • Fraud Protection - You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know. • Apply in minutes - Applying for a Cashback Debit account is simple and fast. • Fee free overdraft protection |
![]() • Get started and open a Discover Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 0.55% APY balances $100,000 and over • Earn 0.50% APY balances under $100,000 • Open with as little as $2,500. • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
![]() • Available nationwide online • Select terms as short as 3 months up to 120 months • Rates ranging from 0.30% APY up to 2.50% APY • Start today with as little as $2,500! • Step-by-step help available 24/7 by phone • Flexible options: Roth (pay now, save later) & Traditional IRAs (earn now, pay later) • Gather your retirement savings into one place. • Just three steps and you’re on your way to saving with a Discover IRA CD. |
Bottom Line
I recommend opening Discover Bank CDs with the term of 10 years for the maximum bonus. Put money you don’t want to touch for a while, like your child’s college tuition or your retirement fund. This is great for people with higher net worth or low income in retirement. If that sounds like you that you should open a account and start saving now!
See our full list of Best CD Rates today! Find all the best Discover Bank Promotions!

I consider that the long term of CD from DISCOVER is pretty good; but I wonder if there are other Bank is even better than this one; please tell me.
RE: DISCOVER 12 month CD
I’m 71 and not looking for a long term investment.
Can one person open two 12 month account at the same time?
yes,, I have a bunch @ 12 mo. The interest offered to go longer isn’t much (%.05 extra).
Great Info. ..thanks.
What is the penalty for early withdrawal? Is it the same for all term lengths?