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It’s never too early to plan for your future. IRA CDs are a simple way to enjoy guaranteed returns—and the peace of mind that comes with them.

X.XX% APY*
12-month term
X.XX% APY*
24-month term
X.XX% APY*
5-year term
See all of our IRA CD rates and terms

Deciding between Traditional and Roth IRA CDs

Compare the two types of IRA CDs to see which is right for you.

The information provided herein is for informational purposes only and is not intended as a substitute for professional advice. Please consult your tax advisor with respect to the information and how it relates to you.

  • Main differences

    Roth IRA CD

    Pay now, save later

    Funded with after-tax dollars.

    Earnings and qualified withdrawals are tax-free.

    Contributions are not tax deductible.

     Limitations apply

    Traditional IRA CD

    Earn now, pay later

    Funded with pre-tax dollars.

    Earnings are tax-deferred.

    Contributions are tax-deductible up to certain income limits.

     Limitations apply
  • Maximize for taxes

    Roth IRA CD

    Get taxes out of the way

    Think your tax rate will be higher when you withdraw? Go with a Roth IRA.

    Traditional IRA CD

    Pay taxes later

    Think your tax rate will be lower when you withdraw? Choose a Traditional IRA.
  • Eligibility

    Roth IRA CD

    Anyone with taxable earned income within IRS limits

    (limits based on income and tax filing status)

    Traditional IRA CD

    Anyone with taxable earned income within IRS limits

    (income limits apply for tax-deductible contributions)
  • Making withdrawals

    Roth IRA CD

    Withdraw anytime

    Withdraw earnings without IRS penalty at age 59½ if your account is at least 5 years old.

    Traditional IRA CD

    Withdraw when you’re 59½

    Withdraw contributions and earnings without IRS penalty at age 59½.

    Distributions are required to start by age 70½ if you were 70½ by 12/31/2019. Distributions are required to start by age 72 if you turned 72 from 1/1/2020 to 12/31/2022. If you turned 73 in 2023 or years following, distributions will not be required until you are age 73.
Retired woman pets dog on her front porch after transfering money into an IRA CD.

Fund your tomorrow with ease

Invest in your future with these simple ways to fund a Discover IRA CD.

  • Contributions

    When you contribute funds, you’ll be depositing money that is not presently deposited in any type of retirement account. The IRS imposes annual limits on how much you can contribute. You may want to contact a financial advisor or tax professional for further information.

         Transfer money that is not currently deposited in any type of retirement account directly into our IRAs.

  • Rollovers

    When you rollover funds, you receive the funds through a distribution from your IRA. You then have 60 days from receipt of those funds to roll them into another IRA or qualified retirement plan to avoid tax consequences. IRA owners are limited to only one IRA-to-IRA rollover in any 12-month period. Rollovers are not counted toward your annual contribution limits. The above reflects general rollover rules. You may want to contact a financial advisor or tax professional for further information specific to your circumstances.

         Move money from other retirement plans or accounts into one of our IRAs with ease.

  • Transfers

    When you transfer an IRA, the funds are moved directly from one financial institution to another. The transfer check is made payable to your financial institution for your benefit. Because you don’t handle the funds directly, the transaction is not considered a distribution. There is no limit to the number of transfers you can make.

         Easily transfer an IRA from another financial institution to one of our IRAs.

It all adds up to more freedom down the road

See how our IRA CD interest rates compound your money over time so your earnings are there when you’re ready to retire.
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Initial deposit

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Please enter an amount between $1 and $5,000,000.
Earned interest with Discover

This calculator and the values shown are intended for illustrative and informational purposes only and may not apply to your individual circumstances. This calculator uses an Annual Percentage Yield (APY) that is rounded to the nearest one-hundredth of one percentage point, e.g., .01%. However, actual interest earned calculations use an APY that is rounded to the nearest one-thousandth of one percentage point, e.g., .011%.  As a result, the estimated interest earned value shown here may vary from the actual interest earned on your account. Calculation assumes principal and interest remain on deposit and interest rate and APY do not change.

 % APY

Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX and is subject to change without notice. The APY will be determined and fixed for entire IRA CD term once account is opened and correctly completed documentation and funding is received. We will send you written confirmation of the interest rate, APY and maturity date of your IRA CD after it is opened or funded. Applies to personal accounts only. A penalty may be charged for early withdrawal. No minimum deposit required to open an account. Consult a financial advisor or tax professional for guidance.

Get started with as little as $2,500.

Open an Account

Ready to start saving for your future?

Open an Account OAO

*Annual Percentage Yield (APY) is accurate as of  XX/XX/XXXX, and is subject to change without notice. The APY will be determined and fixed for entire IRA CD term once account is opened and correctly completed documentation and funding is received. We will send you written confirmation of the interest rate, APY and maturity date of your IRA CD after it is opened or funded. Applies to personal accounts only. A penalty may be charged for early withdrawal. No minimum deposit required to open an account. Consult a financial advisor or tax professional for guidance.