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CD Account

Count on guaranteed returns to reach your savings goals

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Your deposits are FDIC-insured up to the maximum amount allowed by law
Earn X.XX% APY
on a 24-month CD for a limited time
No matter your financial strategy, our Certificate of Deposit (CD) rates can help you earn more on your terms.
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Open your CD account today

Earn more on your terms

See how your earnings grow depending on how long you commit to a high-yield CD.
$X,XXX
Earned interest on a XX month CD
$X,XXX
Earned interest on a XX month CD
discover logo
X.XX% APY 
Bank of America
X.XX% APY 
Citibank
X.XX% APY 
Chase
X.XX% APY 
Wells Fargo
X.XX% APY 
U.S. Bank
X.XX% APY 
Compare Different Banks

Get started with no minimum opening deposit required.

Get Started
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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

CD FAQ

View CD FAQ

There is no minimum deposit to open a Discover CD Account.

At the time of application, you’ll have the option to fund now or fund later.

If you choose fund now, you can typically fund your CD account in one of the following ways:

  • Transfer from an eligible Discover bank account you own (internal transfer)
  • Transfer from an external bank account you own (external transfer via ACH)

If you choose fund later, you can fund your CD account in one of the following ways:

  • Transfer from an eligible Discover bank account you own (internal transfer); you can initiate this transfer by sending a secure message or calling us
  • 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.

  • Send a wire transfer; for domestic wire transfers (from another bank in the U.S.), please wire funds to:

         Beneficiary Bank: Discover Bank
         ABA/Routing Number: 031100649
         Beneficiary Bank Address (if required): 502 East Market Street, Greenwood DE 19950
         Beneficiary Name: Your name (as it appears on your Discover bank account)
         Beneficiary Address: Your address (as it appears on your Discover bank account)
         Beneficiary Account Number: Your Discover bank account number

For more information about wire transfers or instructions for sending an international wire transfer, please refer to our “How do I receive a wire transfer” and “Is there a fee for receiving a wire transfer” FAQs.

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!
Get Started

Modern Money Blog

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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
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