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During this period, online 1-year CD rates bottomed out in a range of 0.80% to 1.00%. The 1YrOCD Index has fallen below this range which indicates that we’re now seeing all-time low 1-year CD rates at most online banks. Why 1-year CD rates? One-year CD rates provide a good benchmark for both rate watchers and issuing financial institutions alike. Mar 01, 2021 You’ll find the Best Discover Bank CD Rates below from a 3-month to a 10-year term. Keep in mind that you’d need at least $2,500 to open your account and lock in your rate. You can open a CD for a variety of ownership types such as Individual, Trust, Custodial, Guardian and Estates.

THE CLUB

Preferred rates on 12, 24, and 60 month terms.

Two Trusted Partners
A Better Way to Save
FDIC Insurance

Grow your money

Earn CD APYs that outperform the National Averages²
Preferred member interest rates and APYs on 12, 24, and 60 month CDs and IRA CD terms.

Enjoy financial control

Choose terms ranging from 3 months to 10 years
Option to automatically withdraw interest
Use electronic deposit to add funds to a maturing CD or fund a new one
Easy online account management

Bank with confidence

100% U.S.-based customer service representatives available 24/7
FDIC-insured up to the maximum allowed by law.
Discover is one of the most recognized financial service providers in the U.S.

Interest rates/APYs are applied based on the date the account is funded.

Compare CDs

Earn CD APYs that outperform the National Averages².

Term	Interest Rate	APY¹	APY²	APY³	APY³

For information regarding fees and service charges, see Section 36 in the Deposit Account Agreement.

CD Accounts FAQ

About Your Account

What is the minimum deposit amount to open my Certificate of Deposit (CD)?

As a benefit of your AAA membership, there is no minimum opening deposit amount.

How can I fund my CD Account?

You can fund your CD Account in the following ways:

Online transfer from an eligible Discover Bank Account or an external bank account
Phone Transfers (available for initial funding only)
Mail a check that includes your CD Account number, made payable to you to:
Discover Bank
PO Box 30417
Salt Lake City, UT 84130

Discover Cd Rates As Of Today

*Please note that Travelers Checks will not be accepted for deposit.

What is the Discover Bank routing number?

The Discover Bank routing number is 031100649. It is used for electronic transfers made by ACH (including Direct Deposit) and for domestic wire transfers (from another financial institution within the U.S.).

How do I send a wire transfer?

Follow the steps below to send an outgoing wire transfer. Please make sure your request is submitted at least 2-3 days in advance of when you would like us to process your wire to ensure pre-processing can be completed; allow additional time if mailing your request.

International and Domestic Wire Transfer requests received and verified before 3:00 PM ET on a business day will be processed the same day. Requests received and verified after 3:00 PM ET on a business day or any time on a weekend or holiday will be processed by the next business day.

As a reminder, all wire transfer requests require verbal authorization before they can be processed. Once you submit your request, you must call us to authorize it. Failure to do so will result in longer processing times and a possible cancelled request.

You can submit a wire transfer request through the Account Center, or by downloading, completing, and submitting the paper form.

Submit Online

International Wire Transfer Request may only be submitted using the paper form

Download Form

Domestic Wire Transfer Request Form (wire transfers within the United States)
International Wire Transfer Request Form (wire transfers outside the United States)

Once you have completed your Wire Transfer Request Form, you can submit it through any of the following methods:

Upload the form through Secure Document Upload
Fax the form to 1-224-813-5213, Attention 'Wire Transfer Request'
Mail the form to Discover Bank, PO Box 30417, Salt Lake City, UT 84130

How do I receive a wire transfer?

For domestic wire transfers (from another bank in U.S.), please wire funds to:

Beneficiary Bank: Discover Bank
ABA/Routing Number: 031100649
Beneficiary Bank Address (if required): 502 Market Street, Greenwood DE 19950
Beneficiary Name: Your name (as it appears on your Discover Bank account)
Beneficiary Account Number: Your Discover Bank account number

For international wire transfers (from another bank outside the U.S.), please wire funds to:

Beneficiary Bank: Bank of New York Mellon
ABA/Routing Number: 043000261
SWIFT Code: IRVTUS3N
Beneficiary Bank Address (if required): #3 Mellon Bank Center, Pittsburgh, PA 15258
Beneficiary Name: Discover Bank
Beneficiary Account Number: 9914394
For Further Credit to: Your name (as it appears on your Discover Bank account) and your Discover Bank account number

Wire transfers received before 4:00 PM ET will be posted to your account on the business day we receive them.

Wire transfers received after 4:00 PM ET will post to your account the following business day, with an effective date of the business day the funds were received.

Some wire transfers may require additional processing time. In those cases, your wire transfer will post to your account upon completion of processing, with an effective date of the business day the funds were received. If it has been more than 2 business days since your inbound wire was sent and it has not yet posted, feel free to call us at 1-800-347-2683.

What fees and service charges are associated with my CD Account?

We do not charge any account-related fees, however, there is a $30 Wire Transfer Service Charge for outgoing wires as well as early withdrawal penalties, which are outlined below.

For CDs opened or renewed through 3/14/13

<1 year: 3 months simple interest on principal amount withdrawn
1 year-5 years: 6 months simple interest on principal amount withdrawn
6+ years: 9 months simple interest on principal amount withdrawn

For CDs opened or renewed from 3/15/13 through 2/16/14:

<1 year: 3 months simple interest on principal amount withdrawn
1 year-3 years: 6 months simple interest on principal amount withdrawn
4 years-6 years: 9 months simple interest on principal amount withdrawn
7+ years: 15 months simple interest on principal amount withdrawn

For CDs opened or renewed on or after 2/17/14:

<1 year: 3 months simple interest on principal amount withdrawn
1 year-3 years: 6 months simple interest on principal amount withdrawn
4 years: 9 months simple interest on principal amount withdrawn
5 years-6 years: 18 months simple interest on principal amount withdrawn
7+ years: 24 months simple interest on principal amount withdrawn

*Please note that in some cases, the Early Withdrawal Penalty may reduce the principal in the CD.

Is the CD Account FDIC-insured?

Yes, funds on deposit at Discover Bank are FDIC-insured up to the maximum allowed by law. For more information, visit the FDIC website.

Can I find my CD maturity date online?

Yes. Click here to log into your account. Once logged in, select your CD Account on the 'Account Summary' page. Your maturity date will be displayed in the CD account details.

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What happens when my CD matures?

We will send you a notification 30 days before your CD matures. When your CD matures, you may make a deposit or withdrawal and change the term of your CD during the grace period. The grace period lasts for 9 days immediately following the maturity date. Your CD will automatically renew if you don't take any action during the grace period and interest withdrawn on the account will not affect the grace period. Any term change, deposit, or withdrawal of principal during the grace period will end the grace period.

In some cases, the Early Withdrawal Fee may reduce the principal in the CD.

Will I receive a certificate for my CD?

No. You will not receive a certificate for your CD, however, you will receive a welcome kit when you open your account