Here at Peak Personal Finance, we talk about savings, being ready for the future, and so forth, so it seemed appropriate to branch out a little and talk about certificate of deposit rates. We’ll start with one of the two top banks (in terms of yields) for CDs nationally: Discover Bank.

Riverwoods, Illinois-based Discover Bank specializes in credit cards and Certificates of Deposits. CD rates at Discover Bank. CD rates at Discover Bank follow the national pattern and market standard but are almost always priced at higher rates. The bank offers a 6-month fixed term investment with certificate of deposit rates at 1.00% APY. The minimum deposit required for any certificate is $2,500 and it can be as high as $100,000 or even more in some cases. It also allows for a basic investment for a short period of three months and it would yield 0.75% APY.

Discover Bank CD rates for 1-year term are priced at 1.85% APY. The rates go higher with long term investments with a 2-year certificate yielding 2.25%. Yields for 3-year and 4-year certificates are 2.60% and 2.85%, respectively. A 5-year investment can bring as high as 3.30% whereas the maximum term limit of 10-year CD would return 3.70%. The company also offers a 7-year CD investment with an APY of 3.45%.

Discover 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 CD rates are flexible in case the customers have opted for the flexible option. The bank offers a complete online solution for this account and customers can use the company Web site to open their accounts without any physical hassles.