Interested in opening a Discover® CD account? Available nationwide, Discover Bank is currently offering IRA Certificates of Deposits (CDs) with rates up to 4.00% APY. Member FDIC.
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!
With a Discover Bank IRA CD account, you’ll enjoy guaranteed returns, peace of mind included. Find the perfect term-length for you, ranging from as little as 3 months to 10 years. Choose from Roth or Traditional IRAs. When choosing which type of IRA to open, you should consider factors such as your taxable income, age, and Tax Filing Status.
Whether you’re planning to retire in a couple years or a couple decades, you should consider having an IRA CD. This can be vital to your financial future as a form of retirement insurance. Financial planners believe you should start contributing to an IRA CD as early as possible in your career, then maximize your contributions each year. Below are the IRA CDs Discover has to offer for you.
(Member FDIC)
Discover IRA CD Summary
Discover Bank is currently offering competitive rates with terms as low as 3 months or as long as 10 years when opening an IRA CD account with Discover Bank. Consider applying for Discover Bank’s IRA CD to earn a guaranteed rate when thinking about retirement.
- Eligible account: Discover IRA Certificate of Deposit Account
- Credit inquiry: Soft pull, which does not affect your credit
- Where it’s available: Online Nationwide
- How to earn it: Open a new IRA Certificate of Deposit Account online and fund your account with any amount. Select your term and earn the corresponding APY Rate.
- Opening Deposit: None
- When you’ll receive it: None Listed
- Monthly fee: There are no monthly fees with this account
(Member FDIC)
Discover 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 |
Rate Requirements
Earn a competitive APY Rate with a Discover IRA CD account.
- Open a Discover Bank IRA CD account online.
- Set up your account with your address, phone, email, social security and funding option.
- Fill out the forms within 7-10 days of setting up your account.
- Done! Watch for your confirmation letter that your funding has gone through.
Which IRA CD is Right For You?
| Roth | Traditional |
| Key Advantages | |
|
|
| Who The Product Is Best For | |
|
Get taxes out of the way. If you expect tax rates to be higher when you begin making withdrawals, go with a Roth IRA. |
Wait to pay taxes later. If you expect to have a lower tax rate when making withdrawals, choose a Traditional IRA. |
| Eligibility | |
| Taxable earned income within IRS Limits. Limits are based on income and tax filing status. | Anyone under 70½ with taxable earned income. Income limits apply for tax deductible contributions. |
| When Withdrawals Can Be Made | |
| Anytime you want. 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. | When you’re 59½. Contributions and earnings can be withdrawn without IRS penalty at 59½. Distributions are required by age 70½. |
What Happens When The IRA CD Reaches Maturity?
Once you IRA CD is approaching its maturity date, Discover will send you a notice 30 days before your IRA CD term matures. Once it reaches maturity, you’re able to withdraw the initial deposit along with the interest accrued, add additional deposit, or change the terms of your IRA CD.
You’ll have a grace period of 9 days after the maturity date to complete the changes. If no changes are made, your IRA CD will renew with the same terms.
With that being said, your new rate will be in effect for the renewal term at the current rate being offered for that term.
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 3.50% 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 • 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 |
• Get started and open a Discover® CD in 3 easy steps. • Available nationwide online • Discover offers CDs with some of the highest and most competitive rates! • 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. |
Conclusion
If you’re interested in saving for your retirement now, Discover Bank offers IRA CD accounts with highly competitive rates. IRA CDs are similar to savings accounts, in that your money earns a set interest rate over time. The higher your rate, the more interest you can earn.
Rates are tiered, based on the CD term you choose. Rates on these accounts do not vary based on balance and terms available range from 3 months to 10 years.
For all other accounts, Discover Bank offers quality customer service and great interest rates! Find other CD rates by viewing 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 Bonuses! In addition, you can also check out other great promotions from banks such as 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 + 3.50% APY | 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® Checking | $360 Cash Back | Review |
