Discover Bank – IRA CD

Product Info:

  • IRAs: Discover Bank IRAs offer the freedom to choose from a wide range of CD terms and the comfort of knowing your retirement savings will grow at a predictable rate
  • Whether you choose a Traditional or Roth IRA, Discover Bank's competitive rates can help maximize your savings
  • Both Traditional and Roth IRAs can offer potential tax advantages - your financial advisor or tax consultant can help you determine which type of IRA best suits your needs
  • To qualify for a Traditional IRA, you must be age 70 1/2 or under and have earned taxable compensation during the year in which the contributions are made
  • There are no income limitations
  • To qualify for a Roth IRA you must have earned taxable compensation during the year in which the contributions are made
  • You must meet certain income limitations to participate
  • There is no age restriction - you can continue to contribute at any age
To find out more, visit Discover Bank's website.
Current Rates
Term APY Min Deposit
3 months 0.40 % $2,500
6 months 0.75 % $2,500
9 months 0.80 % $2,500
1 year 0.90 % $2,500
18 months 0.95 % $2,500
2 years 1.15 % $2,500
30 months 1.20 % $2,500
3 years 1.35 % $2,500
4 years 1.55 % $2,500
5 years 1.75 % $2,500
7 years 2.00 % $2,500
10 years 2.45 % $2,500

IRA CD Rate History

3 month IRA CD Rates

Product Fees

Fees

  • Less than 1 Year until Maturity: 3 months simple interest on the amount withdrawn
  • 1 Year up to and including 5 Years until Maturity: 6 months simple interest on the amount withdrawn
  • Greater than 5 Years until Maturity: 9 months simple interest on the amount withdrawn


Services

  • Incoming Domestic Wire: Free
  • Incoming International Wire: Free
  • Foreign Check Conversion: At cost
  • Outgoing Domestic Wire: $20
  • Outgoing International Wire: $40
  • Copy of Statement, Check, Deposit Item: $5
  • Priority Mail: $20