Discover Bank offers 12 different terms ranging from 3 months to a period of 10 years. Rest assured, Discover Bank is FDIC insured promising safety and security to their customers.

Without further ado, here are the Interest CD Rates provided in Discover Bank according to the term: for 3 months the interest rate is at 0.75%, for 6 months the interest rate is at 1.00%, for 9 months it is at 1.20%, for 12 months it is at 1.84%, for 18 months it is at 1.88%, for 24 months and 30 months the interest rate is at 2.23%, for 3 years it is at 2.57%, for 4 years it is at 2.81%, for 5 years (the most popular chosen term in Discover Bank) the interest rate is at 3.25%, for 7 years it is at 3.39% and for the final term of 10 years the interest rate is at 3.63%.

Although the APY does not differ much from the Interest Rate, there is a slight difference which should be acknowledged. For terms of 3 months, 6 months and 9 months, the APY rates are exactly the same as the Interest rates. For the term of 12 months, the APY increases by 0.01% more than the Interest rate making it 1.85% instead of 1.84%. For 18 months, the APY is at 1.90%, for 24 months it is at 2.25%, for 30 months it is at 2.25%, for 3 years it is at 2.60%, for 4 years it is at 2.85%, for 5 years the APY is at 3.30%, for 6 years it is at 3.45%, for  7 years it is at 3.45% and at the final term of 10 years the APY is at 3.70% making a difference of 0.07% compared to the Interest Rate of the same 10 year term.

]]> http://www.top-cdrates.com/discover-cd-rates/feed/ 0 http://www.top-cdrates.com/discover-bank-cd-rates/ http://www.top-cdrates.com/discover-bank-cd-rates/#comments Wed, 25 Mar 2009 13:35:42 +0000 author http://www.top-cdrates.com/?p=67 Discover does more than just credit cards. We here at Top-CD Rates thought we should look over what they have to offer for Discover Bank CD rates and bring you the newest information. There are some offers that will likely be of interest to you. Especially the 3.5% annual percentage yield they’ve been offering.

That 3.5% APY is on a five year term with a $2,500 minimum deposit. That would beat the national average return by nearly $200 over that term. Definitely worth considering when looking at certificate of deposit rates. For reference the national average annual percentage yield right now is 2.08%.

Other terms are available from 3 months to 10 years with some good Discover CD rates offers in the mix. The three month term Discover CD rates out only 1.25% APY, but a jump to six months pushes that up to 1.74% APY. Nine moths nets 1.99% APY while a year is at 2.33%. The three year term CD rates at Discover Bank pull in 2.86% APY currently wile a full ten years will get 3.73% APY. Definitely worth a look for that IRA portfolio.

All Discover CD rates require a minimum $2,500 deposit and all Discover Bank accounts are FDIC insured. If you’re looking for a CD, you should definitely have a look at Discover Bank CD rates and see what they can offer you. Check those Discover CD rates often, though, as they can change quickly with the market or vary by location.