Daily Deal! 3.5% APY on 5 year Certificate of Deposit CD from Discover Bank

by Rate Nerd on March 24, 2009

interest ratesDiscover Bank is currently paying 3.5% APY on its 5 year certificate of deposit CD’s.  This is the same rate you would get on a Jumbo CD (over $100K) but only requires $2,500 initial deposit.

In comparing to the national averages for CD Rates, the Discover Bank offer is compelling.   Today’s national average for CD rates is 2.66% APY according to Bankrate.  

Other high yield CD Rates are available from GMAC Bank (3.5% APY) and Intervest National Bank (3.66% APY).  Any of these are perfect for building your CD ladder.  

The Discover Bank site has a number of cool tools to help you with your planning, including the Savings Analyzer for Discover Card Holders.

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Tagged as: bank, bank cd, Bank Deals, bank rates, CD Ladder, cds, certificate of deposit, Discover Bank, Discover Card, GMAC Bank, high-yield

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