Today at Peak Personal Finance, we are looking at the current certificate of deposit rates at Discover Bank. It has been a month or so since we last looked at Discover CD rates, so it’s time for an update.

Riverwoods, Illinois-based Discover Bank is a premium bank offering a range of financial products. People interested in knowing about bank CD rates can visit the company website for elaborate details. CD rates at Discover Bank for a 6-month fixed term investment will return an APY of 1.25%. The minimum deposit required for any certificate is $2,500 and it can be as high as $100,000. The bank also allows for a basic investment for a short period of three months and it will yield 0.65% APY.

Discover Bank certificate of deposit rates for 1-year term are currently estimated at 1.50% APY. The rates go higher with long term investments with a 2-year certificate yielding 2.00%. Yields for 3-year and 4-year certificates are 2.30% and 2.45%, respectively. Discover Bank CD rates for a 5-year investment can bring as high as 3.00% in APY. The certificate of deposit rates for the maximum term limit of 10-year CD will return 3.60%. The bank also offers a 7-year CD investment with an APY of 3.30%.

Discover Bank CD rates for IRA are the same as in the case of fixed-term investment. The only difference is that of tax-related regulations and benefits. The bank does not charge any penalty on early withdrawal of money from these accounts.

The bank rates are flexible in case the customers have opted for the flexible option. All CD accounts are operated online and customers can use all the online banking features offered by Discover Bank.