Choose your term. Enjoy the guaranteed returns.
Explore how your earnings grow based on your CD term.
Initial deposit
Get started with no minimum opening deposit required.
Get StartedEnjoy the feeling of a no-fee CD account
-
$0 Official bank check
CD FAQ
View CD FAQ
What is the minimum deposit amount to open a CD Account?
There is no minimum deposit to open a Discover CD Account.
How can I fund my CD Account?
You can fund your CD Account in the following ways:
- Online transfer from an eligible Discover bank account or an external bank account
- Phone Transfers (available for initial funding only)
- Mail a check that includes your CD Account number, made payable to you to:
Discover
PO Box 30417
Salt Lake City, UT 84130
*Please note that Travelers Checks will not be accepted for deposit.
How is interest on my CD calculated?
Interest is compounded daily and credited to your account monthly.
When will I start earning interest on new deposits?
If we receive your deposit before your Account is opened, interest will begin to accrue on the deposit on the Business Day your Account is opened. Once an Account is opened, interest begins to accrue on a deposit on the Business Day we receive your deposit.
Is the CD Account FDIC-insured?
Yes, funds in Discover deposit accounts are FDIC insured up to the maximum amount allowed by law. For more information, visit our FDIC information page.
We make it easy to get started
Save with confidence—you’re FDIC-insured
- FDIC deposit insurance is up to $250,000 per depositor, per insured bank, per deposit ownership category
- May apply to retirement accounts
- Coverage is automatic