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Discover Bank has CD rates that are higher ones at many brick-and-mortar banks.
Discover has two types of CDs: regular CDs and IRA CDs. IRA CDs are specifically for retirement, and you'll have to be mindful of annual IRA contribution limits set by the IRS.
Discover CD Rates
Discover's standard CDs and IRA CDs pay similar interest rates and have the same minimum deposit requirements.
Discover might be a solid choice if you're looking for a bank that offers a variety of CD terms. Usually, banks offer CDs ranging from six months to five years. At Discover, you also have 3-month, 7-year, and 10-year terms.
Meanwhile, Discover IRA CDs have some of the best IRA CD rates. Discover stands out from other banks because it has higher CD rates than the average CD.
| Term | APY |
| 3 months | |
| 6 months | |
| 9 months | |
| 1 year | |
| 18 months | |
| 2 years | |
| 30 months | |
| 3 years | |
| 4 years | |
| 5 years | |
| 7 years | |
| 10 years |
Discover CD Rates Pros and Cons
| Pros | Cons |
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Discover CD FAQs
What are the current CD rates at Discover?
Discover CDs pay
What is the current 10-year CD rate at Discover Bank?
The 10-year CD rate at Discover Bank is
Are Discover CDs good?
Discover might be a good choice if you are looking for high CD rates and have
How Discover CD Rates Compare
Discover CD Rates vs. American Express CD Rates
American Express CD rates are lower than most Discover CD rates. American Express National Bank doesn't require a minimum opening deposit, though. At Discover, you'll need at least
American Express doesn't offer a 7-year or 10-year term. If you're interested in these specific terms, Discover will be your default option out of the two banks.
American Express National Bank Review
Discover CD Rates vs. Barclays CD Rates
Discover and Barclays Bank pay similar interest rates on CDs.
Barclays will likely be a better option if you would prefer to get a CD that has a low initial deposit. Barclays lets you open a CD with
If you would like an online bank that offers multiple CD terms, you might favor Discover. Barclays CDs range from six months to five years, while Discover has CDs from as short as three months to as long as 10 years.
Why You Should Trust Us: How We Reviewed Discover CDs
We used Insider's certificate of deposit methodology to review Discover CDs. We look at interest rates, minimum opening deposits, early withdrawal penalties, CD term variety, ethics, customer support, and the mobile app. We use a scale of 0 to 5 for each category, then average the scores together to calculate the CDs' overall rating.