RateAPY

Earn 3.2% APY with a 5-Year Discover Bank Certificate of Deposit

Posted by: RateAPY Bank Rates News
February 8th, 2010

CD Rates and Terms

Generally speaking, the best CD rates are available only to those who are willing to tie up their money for long periods. And that may create a dilemma. You want the best possible return now, but what happens if interest rates in general rise?

Discover Bank CD Rate Calculator

There’s a handy calculator on Discover Bank’s CD Web page that can help you decide the trade-off between rates and terms (time periods) that suit you best. It has two sliders–you move one to show the amount you want to invest, and the other to the term you’re considering. As you slide them up and down, the total you can expect to receive over different terms changes.

It also shows the national average CD rates for each combination, and how much more you should receive from Discover Bank.

For those who prefer a simple table, here are the bank’s certificate of deposit interest rates at the time of writing:

Term/Interest Rate/APY

3 Months/0.75%/0.75%

6 Months/1.00%/1.00%

9 Months/1.09%/1.10%

12 Months/1.69%/1.70%

18 Months/1.78%/1.80%

24 Months/2.13%/2.15%

30 Months/2.18%/2.20%

3 Years/2.47%/2.50%

4 Years/2.62%/2.65%

5 Years/3.15%/3.20%

7 Years/3.34%/3.40%

10 Years/3.63%/3.70%

Compare the Best CD Rates

To make sure you make an informed decision about your savings, compare CD rates now.