Opening a Discover® CD account is great if you’re looking to grow your excess funds. Available nationwide, Discover® Bank is now offering Certificates of Deposits (CDs) with rates up to 4.00% APY. Find the latest Discover Bank CD Rates below.
Update 5/1/25: The 9 month term rate has increased. There is now 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!
You’ll find the best Discover Bank CD rates below from 3-month to 120-month term.
You can open a CD for a variety of ownership types such as Individual, Trust, Custodial, Guardian and Estates.
Discover Certificate of Deposit Account Summary
Discover Bank has always been one of the best places to open a CD account online. Their CD rates have consistently been very competitive for 12-month CDs, all the way up to 10-year CDs.
- Eligible account: Discover Certificate of Deposit Account
- Credit inquiry: Soft pull, which does not affect your credit
- Where it’s available: Online Nationwide
- Opening Deposit: None
- Monthly fee: There are no monthly fees with this account
- How to earn it:
- Open a new Certificate of Deposit Account online and fund your account with any amount.
- Select your term and earn the corresponding APY Rate.
- Grace Period After Maturity (for Penalty-Free Withdrawals): 9 days
- Early Withdrawal Penalty:
- CD Term: less than 1 year; Penalty: 3 months simple interest
- CD Term: 1 year to less than 4 years; Penalty: 6 months simple interest
- CD Term: 4 years to less than 5 years; Penalty: 9 months simple interest
- CD Term: 5 years to less than 7 years; Penalty: 18 months simple interest
- CD Term: 7 years to 10 years; Penalty: 24 months simple interest
(Member FDIC)
Discover CD Rates
| 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 |
Discover CD Features
Earn a competitive APY Rate with a Discover CD account.
- No monthly fees
- Flexible terms: 3 months to 10 years
- One of the highest rates available nationwide for a 10-Year term
- Daily compounded interest rate and credited monthly
- FDIC insured of up to $250,000
How To Fund Discover CD
- Online transfer from an eligible Discover Bank Account or an external bank account
- Phone Transfers (available for initial funding only)
- Mail a check that includes your CD Account number, made payable to you to:
- Discover Bank
PO Box 30417
Salt Lake City, UT 84130
- Discover Bank
Discover Certificate of Deposit Pros and Cons
- No fees
- Numerous terms to choose from
- Daily interest calculation
- Competitive rates
- Multiple funding options
- Low withdrawal fees
- No branches – Discover operates entirely online, so you can’t visit a branch for questions or assistance.
- No partial withdrawals
Other Notable 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 3.60% 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 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 3.55% APY balances $100,000 and over • Earn 3.50% APY balances under $100,000 • Save time and deposit checks securely through the Discover mobile app • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs • Move money in and out of your money market account easily and securely with just a few clicks or taps |
• Just three steps and you’re on your way to saving with a Discover® IRA CD • Available nationwide online • Select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.00% APY • 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. |
Conclusion
If you’re currently looking for a long term investment offer topping at 10 years then you should consider checking out a Discover CD account.
With a competitive rate given to you in up to a 10-year’s term, this is quite the generous interest rate that could potentially earn you an exceptional amount of money on your deposit balance.
With Discover Bank, there’s a variety of length of CD accounts to choose from with different rates for each. Plus, you’ll receive flexible terms and convenient ways to transfer your money as well.
There is a fee if you withdraw before the maturity date of 9 day grace period. Keep in mind that your account will automatically renew upon maturity.
Be sure you check out our complete list of the Best CD Rates to satisfy all your banking needs!
If you are interested in opening a new account, be sure to apply as soon as you can or check out our list of Discover Bank offers!
In addition, you can also check out other great promotions from banks such as U.S. Bank, HSBC Bank, Chase Bank, Huntington Bank, TD Bank, or CIT Bank.
(Member FDIC)
| BONUS LINK | OFFER | REVIEW |
| Discover® Bank Online Savings terms apply | $150/$200 bonus + 3.60% APY | Review |
| Discover® Bank CD | Up to 4.00% APY | Review |
| Discover® Bank Money Market | Up to 3.55% APY | Review |
| Discover® Bank IRA CD | Up to 4.00% APY | Review |
| Discover® Checking | $360 Cash Back | Review |
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers: • Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks. • HSBC Bank Offers. HSBC Bank routinely has offers for several of their Personal Checking and Business Checking accounts. They also have a good referral program. • Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account. • Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs. • TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available. |
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