Do you want to see a complete review of the Discover certificate of deposit? From Responsible Economy we have carried out an analysis of all its features: interest rate, terms, fees and everything you need to know. You will also be able to see a comparison of the best certificates of deposit in the United States in 2023 and an explanatory video. Welcome!
Explicative video
We have made a video summarizing in a very simple way all the features of the Discover Certificate of deposit. If you like our content, don’t hesitate to support us with a subscription and thus receive videos every day:
Features
In this section we show you all the characteristics of the Discover certificate of deposit:
Interest rate
The maximum interest rate you can get with the Discover Certificate of Deposit is 4.75% APY with a term of 18 months. Each term has a different interest rate.
| Terms | Yields |
|---|---|
| 3 months | 2% APY |
| 6 months | 3.40% APY |
| 9 months | 3.50% APY |
| 12 months | 4.50% APY |
| 18 months | 4.75% APY |
| 24 months | 4.30% APY |
| 30 months | 4.30% APY |
| 36 months | 4.30% APY |
| 48 months | 4.10% APY |
| 60 months | 4.10% APY |
| 72 months | 4.10% APY |
| 10 years | 4.10% APY |
Discover offer a competitive certificate of deposit because the maximum interest rate you can get is 4.75% APY.
Fees
Always look at the annual or monthly maintenance fees. This certificate of deposit has no maintenance fees and is free to open.
Minimum deposit
This certificate of deposit requires a minimum of $2.500.
Best certificate of deposit in 2023
We have made a ranking with the best certificates of deposit that we can open in the United States in 2023:
- 5% APY
- Minimum deposit: $0
- Term: 11 months
- Member FDIC
- 4,40% APY
- Minimum deposit: $5000
- Term: 12 months
- Member FDIC
- 4,65% APY
- Minimum deposit: $1000
- Term: 13 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $0
- Term: 14 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,55% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $0
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
Pros and cons
After seeing all the features of the Discover certificate of deposit and which are the best CDs in the United States, we have made a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| No fees | Minimum deposit $2,500 |
| 4.75% APY | |
Requirements
To open this certificate of deposit you must meet the following requirements:
- Live in the United States
- Must be over 18 years old
- Have a Social Security
- American account number
Conclusion
After our review, our conclusion is that Discover offers one of the best certificates of deposit because it offers a maximum interest rate of 4.75% APY and has no fees. On the other hand, the minimum initial deposit is $2,500.
Frequent questions
Now we answer all the questions you may have about the Discover certificate of deposit:
More information about Discover
Here is a table with information of interest about Discover
| Information | Description |
|---|---|
| Website | https://www.discover.com/ |
| https://twitter.com/discover | |
| https://www.facebook.com/discover | |
| YouTube | https://www.linkedin.com/company/discover-financial-services |
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Updated the day 16 May, 2023 by Alfredo Barandiarán
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