Discover Bank CD rates

Written by
Marcos Cabello
Edited by
Yuliya Goldshteyn
Updated December 12, 2024
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Discover Bank offers certificates of deposit (CDs) in 12 terms, and no minimum deposit is required. Each term pays the same annual percentage yield on all balances. It’s one of the few banks to offer a 10-year CD.

The bank’s CD rates are fairly competitive and well above national averages.

Discover Bank earned 4.6 out of 5 stars in Bankrate’s review across its deposit products and 4.1 out of 5 stars for its CDs.

Discover Bank CD rates

Discover offers varying yields depending on the term. There’s an early withdrawal penalty which may reduce the principal balance. At the maturity date, the balance can be withdrawn or renewed automatically.

Account name Term APY Minimum deposit
CD 3 months 2.00% $0
CD 6 months 3.70% $0
CD 9 months 3.80% $0
CD 1 year 4.10% $0
CD 18 months 3.80% $0
CD 2 years 3.60% $0
CD 30 months 3.50% $0
CD 3 years 3.50% $0
CD 4 years 3.40% $0
CD 5 years 3.40% $0
CD 7 years 3.40% $0
CD 10 years 3.40% $0

Note: Annual percentage yields (APYs) shown are as of Dec. 11, 2024 and may vary by region for some products.

Rate history for Discover Bank's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Discover® Bank
APY
APY
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National average APY
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How Discover rates compare to top-yielding banks

Discover’s CD rates are competitive, though some other online banks may offer slightly higher rates, depending on the term. Discover’s broad selection of CD terms makes it easy to find a term suited to a specific savings goal or to build a CD ladder.

How Discover rates compare to top-yielding banks

Discover offers several other products for savers, including:

These accounts may be worth considering for those who value access to their cash anytime.

Marcos Cabello Arrow Right Icon Writer, Banking and Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.