Interested in opening a CD account with Discover® Bank? Consider opening a Discover® Bank IRA CD account – if you are thinking about retirement, consider opening a Discover Bank IRA CD to earn a guaranteed rate to offset your risk for the future.
Discover’s IRA CD is currently offering an incredible rate of up to 4.00% APY. This is much higher than any savings account I have seen and could be quite a good investment in the long run. With Discover Bank, you can choose an IRA term as low as 3 months or as long as 10 years.
Update 6/23/25: There is no minimum to open an account. If you’re looking for a safe, reliable bank to invest your cash in, sign up for a Discover Bank account today!
They also provide 24/7 phone service so you can always call them if you have any further questions! Member FDIC.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover® Bank Online Savings terms apply | $150/$200 bonus + 3.50% APY | Review |
| Discover® Checking | $360 Cash Back | Review |
| Discover® Bank CD | Up to 4.00% APY | Review |
| Discover® Bank Money Market | Up to 3.45% APY | Review |
| Discover® Bank IRA CD | Up to 4.00% APY | Review |
Discover Bank IRA CD Summary
- Account Type: IRA CD
- Availability: Nationwide
- Expiration Date: None
- Monthly Fee: None
- Additional Advice: Choose a longer IRA CD term to earn more money!
(Visit Discover for more details)
Discover Bank IRA CD Rates
| IRA CD Term | APY Rate |
|---|---|
| 3-Month Term | 2.00% APY |
| 6-Month Term | 3.70% APY |
| 9-Month Term | 4.00% APY |
| 12-Month Term | 4.00% APY |
| 18-Month Term | 3.80% APY |
| 24-Month Term | 3.80% APY |
| 30-Month Term | 3.50% APY |
| 3-Year Term | 3.50% APY |
| 4-Year Term | 3.50% APY |
| 5-Year Term | 3.50% APY |
| 7-Year Term | 3.50% APY |
| 10-Year Term | 3.50% APY |
Which IRA CD Should You Choose
Opening a new account is simple because it’s just filling out basic information! If you apply online, just click on open an account, and fill out the information required.
Applying by phone is easier because you have an associate talking you through everything.
If you don’t know what account is better for you, Roth or Traditional, here’s how you can tell which is better.
There are two different IRA CD to choose from, Roth and Traditional.
- Pay Now Save Later: Funded with after-tax dollars, Earnings and withdrawals are tax-free, Contributions are not tax deductible
- Get Taxes Out of the Way: If you expect tax rates to be higher when you begin making withdrawals, go with a Roth IRA.
- Eligibility: Taxable earned income within IRS Limits; Limits are based on income and tax filing status.
- Withdrawals: Anytime you wish. Contributions can be withdrawn without IRS penalty at any time. Earnings can be withdrawn without penalty at age 59½ if your account is at least 5 years old.
- Earn Now, Pay Later: Funded with pre-tax dollars. Earnings are tax-deferred.Tax-deductible up to certain income limit
- Wait to Pay Taxes Later: If you expect to have a lower tax rate when making withdrawals, choose a Traditional IRA.
- Eligibility: Anyone under 70½ with taxable earned income
- Withdrawals: Contributions and earnings can be withdrawn without IRS penalty at 59½. Distributions are required by age 70½.
Other Discover Accounts To Consider
 Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code LOP325 by 9/11/2025 • Earn high interest rate of 3.50% 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 To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code LOP325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. |
 • 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 3.45%% APY balances $100,000 and over • Earn 3.40% APY balances under $100,000 • 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, 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 2.00% APY up to 4.00% 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. • Get started and open a Discover CD in 3 easy steps. |
Bottom Line
I really recommend Discover Bank’s IRA CD if you are a saver with a high net worth, have low income needs in retirement, or a combination of both.
If that describes you, then the annual interest yield you get could really help you cover your expenses.
Plan for the future now and check it out! If not, then don’t forget to check out full list of Brokerage Bonuses!
For more from Discover Bank, see our list of their latest promotions here.
For more, see our list of the best CD rates:
- Best 6-Month CD Rates
- Best 9-Month CD Rates
- Best 12-Month CD Rates
- Best 18-Month CD Rates
- Best 24-Month CD Rates
- Best 36-Month CD Rates
- Best 48-Month CD Rates
- Best 60-Month CD Rates
- Best No Penalty CD Rates
| PROMOTIONAL LINK | OFFER | REVIEW |
| J.P. Morgan Self-Directed Investing | Up to $700 Cash | Review |
| TradeStation | $3500 Cash | Review |
| WeBull | 12 Free Stocks & free trades | Review |
| SoFi Invest | $25 Bonus and free trades | Review |
| Service Credit Union | 4.25% APY 9-Month CD | Review |
| Western Alliance Bank | 4.50% APY 3-Month CD | Review |
| Western Alliance Bank | 4.40% APY 6-Month CD | Review |
| First Tech Federal Credit Union | 4.35% APY 13-Month Share Certificate | Review |
| Sallie Mae | 4.35% APY 10-Month CD | Review |
| Western Alliance Bank | 4.25% APY 12-Month CD | Review |
| Ponce Bank | 4.25% APY 3-Month High Yield CD | Review |
| Sallie Mae | 4.25% APY 14-Month CD | Review |
| Ponce Bank | 4.15% APY 4-Month No-Penalty CD | Review |
| Live Oak Bank | 4.10% APY 12-Month CD | Review |
| Live Oak Bank | 4.10% APY 12-Month Business CD | Review |
| First Mid Bank & Trust | 4.08% APY 9-Month CD | Review |
| Discover Bank | Up to 4.00% APY CD | Review |
| Sun Canyon Bank | 3.87% APY 11-Month CD | Review |
| Western Alliance Bank | 3.85% APY 5-Month CD | Review |
| Quontic Bank | Up to 3.75% APY CD | Review |
| GreenState Credit Union | 3.65% APY 10-Month CD | Review |
| Blue Federal Credit Union | 3.55% APY 15-Month CD | Review |
| Blue Federal Credit Union | 3.50% APY 9-Month No Penalty CD | Review |
| CIT Bank | 3.50% APY 13-Month CD | Review |
| CIT Bank | 3.50% APY 11-Month No-Penalty CD | Review |
| Southwestern National Bank | 3.40% APY 8-Month CD | Review |
| Ponce Bank | 3.00% APY 1-Month High Yield CD | Review |
| CIT Bank | 3.00% APY 6-Month CD | Review |
| CIT Bank | 3.00% APY 18-Month CD | Review |
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