Consistently high APY with Discover Bank
April 8th, 2009 Posted in bank CD rates
If you are in the market for a CD (certificate of deposit) and are looking for yields higher than the national average, then you may want to check out Discover Bank’s current rates.
In most cases Discover Bank’s CD rates beat the national average by roughly 30% to 50%. The best yields from Discover Bank (when compared to the national average) typically come with longer durations such as 2, 3 and 5 year maturities.
Discover Bank CD Rates VS National Average
| CD Duration | Discover Bank | National Average |
|---|---|---|
| 12 month | 2.35 APY | 2.00 APY |
| 24 month | 2.75 APY | 2.05 APY |
| 3 year | 3.20 APY | 2.28 APY |
| 5 year | 3.70 APY | 2.50 APY |
To see a complete list of Discover Bank’s CD rates click here.
If you have experience in banking with Discover Bank, please leave a comment on this post.
April 8th, 2009 at 8:32 pm
I’ve had a CD account with Discover for a little more than 2.5 years now. NO problems to report on but I did lock in a higher rate than what they are offering now
Guess that’s just the sign of the times
April 8th, 2009 at 9:11 pm
I locked in a 12 month discover CD in October and used an ACH transfer. Money went through very quickly and had no problems. When I was looking around for decent CD rates Discover was the only bank that I recognized the name AND had good rates. Now they are lower though, yes, but most are I presume.
April 9th, 2009 at 10:17 am
Go to your local credit union and you’ll get better rates.
April 22nd, 2009 at 4:33 pm
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