Bank CD Rates

The Discover Bank is from the same company that gives consumers the discount credit card the Discovery card. The Discovery Bank CD rates from this financial institution are above the national average for bank CD rates.

The best rates on CD’s for the Discovery Bank are like most financial institutions, the longest term CD’s they offer. In this case it is the 10 year CD. In addition all of the below rates are based on a FDIC insured deposit of $2500 or more. The 10 year CD has an interest rate of 3.69% with an APY of 3.75%. The next best rate is from the 7 year CD which has a 3.44% interest and a 3.50% APY. The 5 year CD has an interest rate of 3.20% with an APY of 3.25%. The 4 year CD is at 3.20% interest and the APY is at 3.25%. The 3 year CD is at 2.72% interest and an APY of 2.75%. The 30 month CD is at 2.38% and the APY is at 2.40%. The 24 month CD is at 2.33% interest and the APY is at 2.35%.

There is a special offer involving the Discover Bank CD rates at which if a client opens an account by 12/31/09, they can purchase a 1 year CD that will have a locked 2.00% APY for the term of the CD.

There is a nice feature with this financial institution that I have not seen before. If by some chance you lose your job, you may withdraw the funds from your CD without penalty. This might only apply for the 12 month CD but it still shows that some financial institutions still have a heart.

The Discover bank CD rates are above most other bank CD rates.