The minimum initial deposit is $2,500.

Yes. We allow a range of account ownership types including Trust, Custodial, Guardian, and Estates. To open one of these account types, please call us at 1-800-347-7000 and a Banking Specialist will assist you.

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

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

Please see the Certificate of Deposit Account Guide PDF Document for more information.

Fees associated with your CD Account include a $30 Wire Transfer Fee and early withdrawal fees listed below.

The Early Withdrawal Fees are as follows:

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 1 year: 3 months simple interest on principal amount withdrawn
• 1 year-5 years: 6 months simple interest on principal amount withdrawn
• 6+ years: 9 months simple interest on principal amount withdrawn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 1 year: 3 months simple interest on principal amount withdrawn
• 1 year-3 years: 6 months simple interest on principal amount withdrawn
• 4 years-6 years: 9 months simple interest on principal amount withdrawn
• 7+ years: 15 months simple interest on principal amount withdrawn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 1 year: 3 months simple interest on principal amount withdrawn
• 1 year-3 years: 6 months simple interest on principal amount withdrawn
• 4 years: 9 months simple interest on principal amount withdrawn
• 5 years-6 years: 18 months simple interest on principal amount withdrawn
• 7+ years: 24 months simple interest on principal amount withdrawn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 Fee may reduce the principal in the CD

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

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.

Not registered for the Account Center? Register Now

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.

No. You will not receive a certificate for your CD, however, you will receive a welcome kit when you open your account, and you can access your account information anytime via the Account Center.

Not registered for the Account Center? Register Now

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

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

Additional deposits cannot be made during the term of any CD. However, once your CD matures, you can deposit additional funds once during the grace period.

You can withdraw money from your CD Account in the following ways:

• After your CD maturity date, there is a grace period of 9 days when you can make changes to your CD, including a withdrawal without an Early Withdrawal Fee. Please note that any term change, deposit, or withdrawal of principal during the grace period will end the grace period.
• Interest can be withdrawn from your CD at any time without a penalty.
• Principal withdrawals can be made outside of the grace period, however, an Early Withdrawal Fee will apply.

Please see the "About Your Account" FAQ section for a list of early withdrawal penalties.

You can allow the interest earned to remain in your account and take advantage of compounding or have the interest transferred to an eligible Discover Bank Account.

You will start to earn interest on the business day your deposit is received.

If we receive your deposit within 10 days of submitting your application, you will receive the highest interest rate offered on one of these dates: the date you submit your application, the date your account is opened or the date we receive your funding deposit. If we receive your deposit after 10 days, you will receive the current interest rate on the date of receipt. Please note that if we don't receive funding within 45 days, your CD Account will be closed.

Interest is compounded daily and credited to your account monthly.