Discover Bank IRA CD Rates: High Interest, Up to 2.20% APY

Available nationwide, Discover Bank is currently offering IRA Certificates of Deposits (CDs) with rates up to 2.20% APY. Member FDIC.

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.

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, BBVA Compass Bank or CIT Bank.

Discover IRA CD Summary

Discover Bank is currently offering a rate of up to 2.20% APY 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.

• What you’ll get: Up to 2.20% APY Rate
• 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 by making a minimum opening deposit of $2,500.  Select your term and earn the corresponding APY Rate.
• Opening Deposit: $2,500 minimum
• When you’ll receive it: None Listed
• Monthly fee: There are no monthly fees with this account

(No Expiration Date Listed)

Discover IRA CD Rates

Rate Requirements

Earn a competitive APY Rate with a Discover IRA CD account.

1. Open a Discover Bank IRA CD account online.
2. Set up your account with your address, phone, email, social security and funding option.
3. Fill out the forms within 7-10 days of setting up your account.
4. Done! Watch for your confirmation letter that your funding has gone through.

Which IRA CD is Right For You?

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. That means you’ll get the same great rate on a 10-year CD whether you open an account with $2,500 or $25,000. To get the highest rates, consider opening an IRA CD with a term of three years or longer.

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 Ratesto satisfy all your banking needs!