Father playfully swings daughter in the air after opening a CD account.

CD Account

Count on guaranteed returns to reach your savings goals

Get Started
Your deposits are FDIC-insured up to the maximum amount allowed by law
Lock in a CD while rates are still high
No matter your financial strategy, our Certificate of Deposit (CD) rates can help you earn more on your terms.

Choose your term. Enjoy the guaranteed returns.

Explore how your earnings grow based on your CD term.

12-month CD
12 mo3 mo6 mo9 mo12 mo18 mo24 mo30 mo3 yr4 yr5 yr7 yr10 yr

Initial deposit

$
Earned interest with Discover 12-month CD % APY

Get started with no minimum opening deposit required.

Get Started
Father and daughter enjoy an afternoon boat ride with their dog.

Enjoy the feeling of a no-fee CD account

No. Fees. Period. That means you won't be charged an account fee on our CD account.
  • $0 Official bank check

Need to withdraw early?

Just keep in mind that all CD accounts have a penalty if you withdraw before your maturity date. The early withdrawal penalty depends on the length of the CD.
CD Term
less than 1 year
1 year to < 4 years
4 years to < 5 years
5 years to < 7 years
7 years to 10 years
Penalty
3 months simple interest
6 months simple interest
9 months simple interest
18 months simple interest
24 months simple interest

There is no minimum deposit to open a Discover 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.

Interest is compounded daily and credited to your account monthly.

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.

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.

What is a CD

Certificate of Deposit (CD) accounts let you earn high-interest returns on money you know you won't need for a while.

Guaranteed Rates

Never mind what the market does. Because you commit to a specific term, your CD rate is locked in no matter what.

Hands off, on purpose

Sit back and relax. Once you set up your CD, you won’t have to worry about a thing.

Step up those earnings

A “CD ladder” is when you open several CDs with different maturity dates. It’s a smart way to build on earnings as your high-yield CDs mature. Learn how.

We make it easy to get started

1
Enter some basic information to get started.
2
Make a deposit now or come back later—whatever works for you.
3
Check your email for confirmation from us, and you're all set!

Modern Money Blog

Woman talks on phone after opening a CD account online.
Follow these step-by-step directions to open a certificate of deposit (CD) account online, plus tips to help you compare accounts.
Mother and daughter discuss CD accounts while walking on a beach with their family.
If you're looking for predictable returns at rates that tend to exceed those of savings accounts, then it's time to find out what CDs are.
Family enjoys hike near lake.
Interest rates rising? Interest rates falling? Learn how to get an edge on your saving, spending, and borrowing strategies, whether rates are going up or down.
View all articles
Man and woman camping in the mountains.
FDIC Logo

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