Interested in opening a Discover® IRA CD account? Discover Bank is known well for their credit card and online savings options, but did you know that Discover Bank offers Certificate of Deposits (CDs) with some of the highest and most competitive rates today? Learn more about the Discover Bank IRA CD below!
Update 11/21/24: There is now no minimum to open an account. If you’re looking for a safe, reliable bank to invest your cash in, sign up for a Discover Bank account today!
There is also two types: Roth and Traditional that you can choose from! In addition, you can select terms as short as 3 months up to 120 months long with rates ranging up to 4.10% APY depending on term length. Opening a Discover Bank IRA Certificate of Deposit Account is extremely quick and easy.
Start today with any balance! Available online nationwide! Below is all the information and details you need to open your Discover Bank IRA Certificate of Deposit Account!
There really is no comparison when it comes to investing your savings with Discover. Member FDIC.
(Visit Discover to learn more)
Discover Bank Certificate of Deposit Account Summary
To earn a competitive APY Rate on your funds, simply open Discover Bank IRA Certificate of Deposit Account.
Get started in just a matter of minutes. CDs features include high interest rates, 24/7 Live Customer Service, Online Account Management, and FDIC Deposit Insurance up to $250,000 per individual account holder (FDIC certificate 5649).
- Availability: Nationwide
- Expiration: None
- Credit Inquiry: Soft Pull
- Credit Funding: None
- Opening Deposit Requirement: None
- Direct Deposit Requirement: None
- Monthly Service Fee: None
- Early Termination Fees: None
- Promo Code(s): None
Discover Bank IRA Certificate of Deposit Rates
| IRA CD Term | APY Rate |
|---|---|
| 3-Month Term | 2.00% APY |
| 6-Month Term | 3.70% APY |
| 9-Month Term | 3.80% APY |
| 12-Month Term | 4.10% APY |
| 18-Month Term | 3.80% APY |
| 24-Month Term | 3.60% APY |
| 30-Month Term | 3.50% APY |
| 3-Year Term | 3.50% APY |
| 4-Year Term | 3.40% APY |
| 5-Year Term | 3.40% APY |
| 7-Year Term | 3.40% APY |
| 10-Year Term | 3.40% APY |
Application Link
Discover Bank IRA Certificate of Deposit Account: Definitely consider opening a CD online with Discover Bank to receive the highest return rate compared to other bank’s CD rate offers.
Apply today and start earning a competitive APY rate on 3-month up to 120-month terms!
If you are interested in more Discover Bank Deals, Bonuses, and Promotions, see our compiled list of Discover Bank Deals.
Account Requirements
Earn interest on terms as short as 3-months up to 120-month terms.
- Visit Discover Bank online.
- Enter your info: Provide your address, phone, email and social security number
- Fund your account: Make a deposit of any balance. You can send them a check or transfer funds from an existing bank account.
- Verify Information: Verify information and electronically sign your application.
- Confirmation Email: They’ll send a confirmation email, then watch the mail for your Welcome Kit.
Which IRA CD Is Right For You?
There are two different types IRA CD to choose from: Roth or Traditional.
Roth IRA CD
- Key Advantages – Pay Now Save Later
- Funded with after-tax dollars
- Earnings and withdrawals are tax-free
- Contributions are not tax deductible
- Who Is Best Suited?
- Get Taxes Out of the Way: If you expect tax rates to be higher when you begin making withdrawals, this is your account
- Who Is Eligible?
- Taxable earned income within IRS Limits; Limits are based on income and tax filing status.
- When Can I Start Making Withdrawals?
- Anytime you wish. Contributions can be withdrawn without IRS penalty at any time. Earnings can be withdrawn without penalty at age 59½ if your account is at least 5 years old.
Traditional IRA CD
- Key Advantages – Earn Now, Pay Later:
- Funded with pre-tax dollars.
- Earnings are tax-deferred.
- Tax-deductible up to certain income limit
- Who Is Best Suited?
- Wait to Pay Taxes Later: If you expect to have a lower tax rate when making withdrawals, open this account.
- Who Is Eligible?
- Anyone under 70½ with taxable earned income
- When Can I Start Making Withdrawals?
- Contributions and earnings can be withdrawn without IRS penalty at 59½.
- Distributions are required by age 70½.
Gather Retirement Savings Into One Place
| Rollovers | Transfers |
| Rollover money from another type of retirement account into one of Discover’s. |
Transfer an IRA from another financial institution to Discover Bank. |
| Enjoy tax benefits, keep earning interest, and avoid fees. | Make as many transfers as you want each year. |
| Consolidate investments to make life easier. | Combine smaller IRAs into one larger account. |
Avoid Monthly Fees
There are no monthly fees with this Discover Bank Certificate of Deposit Account.
Alternative Discover Accounts To Consider
 Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 3.90% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details |
• Available nationwide online • Earn high yields with flexible access to your cash. • Earn 3.75% APY balances $100,000 and over • Earn 3.70% APY balances under $100,000 • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs • Get started and open a Discover Money Market Account in 3 easy steps. |
• Available nationwide online • Discover offers CDs with some of the highest and most competitive rates! • Select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.10% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Get started and open a Discover CD in 3 easy steps. |
Author’s Verdict
This Discover Bank IRA Certificate of Deposit Account offers a phenomenal return rate on your funds. To qualify for the listed rates, simply select the respective term. Discover Bank’s rates have been consistently competitive with terms as short as 3-months up to 120-months. Definitely the route you would want to take for a guaranteed risk-free income as the rate on traditional savings accounts can fluctuate.
Let us know about your thoughts and experience with Discover Bank in the comment section below. Be sure to check back on BankDealGuy for more bank deals and the best CD Rate Offers!
(Visit Discover to learn more)
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover® Bank Online Savings terms apply | 3.90% APY | Review |
| Discover® Bank CD | Up to 4.10% APY | Review |
| Discover® Bank Money Market | Up to 3.75% APY | Review |
| Discover® Bank IRA CD | Up to 4.10% APY | Review |
| Discover® Checking | $360 Cash Back | Review |
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