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 Discover CD Rates
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Discover Bank will increase the rates they pay for CDs on 5/20/22:  On Friday May 20, 2022 Discover Bank will increase their CD rates by 0.20% to 0.35%, depending on the term. Their lowest rate will be 0.30% for a three month CD and their highest rate will be 2.50% for a ten year CD.
 
Discover Rate Changes effective 5/20/22:
  • Increase the APY* on 3M CD by 0.10% from 0.20% to 0.30%

  • Increase the APY on 6M CD by 0.35% from 0.25% to 0.60%

  • Increase the APY on 9M CD by 0.35% from 0.30% to 0.65%

  • Increase the APY on 12M (1-year) CD by 0.10% from 1.20% to 1.30%

  • Increase the APY on 18M (1.5-year) CD by 0.15% from 1.50% to 1.65%

  • Increase the APY on 24M (2-year) CD by 0.40% from 1.60% to 2.00%

  • Increase the APY on 30M CD by 0.40% from 1.60% to 2.00%

  • Increase the APY on 36M (3-year) CD by 0.50% from 1.70% to 2.20%

  • Increase the APY on 48M (4-year) CD by 0.40% from 1.80% to 2.20%

  • Increase the APY on 60M (5-year) CD by 0.35% from 2.15% to 2.50%

  • Increase the APY on 84M (7-year) CD by 0.35% from 2.15% to 2.50%

  • Increase the APY on 120M (10-year) CD by 0.35% from 2.15% to 2.50%
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If you can tie your money up for 5-years or more, then Series-I bonds offer very, very attractive rates:  See my article: Rates for New & Older I Bonds

Even today  the very low advertised CD and savings account rates offered by "big" banks such as Wells Fargo and Citibank seem designed to help sell annuities to the uninformed who want competitive interest rates as well as take advantage of customers too busy to move their money elsewhere.  Before you talk to a "banker" at your local big bank, make sure you read my article:
Beware of Annuities
 

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Beware of Annuities Article. Read Kirk Lindstrom's Investment newsletter for far better, 100% safe alternatives to annuities.
*Annual Percentage Yield (APY) is accurate as of 05/18/2022 is subject to change without notice, and will be determined and fixed for the term at funding. Applies to personal accounts only. A penalty may be charged for early withdrawal. Minimum deposit to open is $2,500.
Disclaimer:  The information contained in this web site is not intended to constitute financial advice, and is not a recommendation or solicitation to buy, sell or hold any security. This blog is strictly informational and educational and is not to be construed as any kind of financial advice, investment advice or legal advice. Copyright © 2018 Kirk Lindstrom. Note: "CORE & Explore®" was coined by and is a registered trademark of Charles Schwab & Co., Inc.