CD Account

To add a joint owner: click here or follow these steps:

1.  Log in to the mobile app and navigate to "More".
2.  Select "Joint Account Ownership".
3.  Follow the prompts to complete the process.

To manage beneficiaries: click here or follow these steps:

1.  Log in to the mobile app and navigate to "More".
2.  Select "Beneficiaries".
3.  Follow the prompts to update or add a beneficiary.

Please note that once added, joint owners cannot be removed.

If you're adding a beneficiary, you will need their name, date of birth, Social Security number, address, and phone number.

To learn how joint ownership and beneficiaries impact FDIC coverage, visit our FDIC Deposit Insurance page. You can also estimate your coverage at FDIC.gov.

If you renew your CD or it automatically renews, the new Annual Percentage Yield (APY) will be based on the APY in effect on your current CD's maturity date based on term length.

Additional deposits can only be made on the maturity date or during the grace period; deposits cannot be made during the term of any CD.

If you have money you'd like to put to work in a CD, there is no minimum deposit requirement to open a new Discover CD Account.

Open a New CD

You can add money in one of the following ways:

• Internal funds transfer—transfer money from an eligible Discover deposit account you own
• External funds transfer initiated at Discover®—link your external bank account at Discover and schedule a transfer
• Check—mail a check that includes your CD account number on the memo line, made payable to you, and endorsed on the back with “For Deposit Only” to:
  
  Discover
  P.O. Box 30417
  Salt Lake City, UT 84130
  
  Please note that checks can be received up to 10 days before the maturity date and must be received before the maturity date but will not be deposited until the maturity date. 


• Wire transfer—for a domestic wire transfer (from another U.S. bank), wire the funds to:
  
  Beneficiary Bank: Discover, a division of Capital One, N.A.
  ABA/Routing Number: 031100649
  Beneficiary Bank Address (if required): 502 East Market Street, Greenwood DE 19950
  Beneficiary Name: Your name (as it appears on your Discover bank account)
  Beneficiary Address: Your address (as it appears on your Discover bank account)
  Beneficiary Account Number: Your Discover bank account number
  
  Please note that we do not assess a service charge for receiving domestic wires or for receiving international wires in U.S. dollars. For more information about wire transfers or instructions for sending an international wire transfer, please refer to our “Wire Transfer” FAQ.

You can withdraw money from your existing CD account:

• At any time—you can withdraw interest without penalty.
• During the term of your CD—if you choose to withdraw principal outside of the grace period, an Early Withdrawal Penalty may apply.
• On the maturity date or during the 9-day grace period—you can withdraw up to the full balance without penalty. Please note that any term change, deposit, or withdrawal (including interest disbursement) during the grace period will end the grace period. 
  

You can allow the interest earned to remain in your account and take advantage of compounding or have the interest transferred monthly to an eligible Discover account. You may change your interest setting at any time. A withdrawal of interest will reduce earnings.

To view or update your Interest Settings in the mobile app:

1. Log in to the mobile app and select your CD.
2. Click "View Account Details" and then "Interest Instructions".
3. Select whether you'd like to retain the interest in your CD to compound interest or transfer it to an eligible Discover bank account.

To view or update your Interest Settings on web:

1. Log in on discover.com and select your CD.
2. Go to "Account Settings" and select "Interest Settings Reinvest".
3. Select whether you'd like to retain the interest in your CD to compound interest or transfer it to an eligible Discover bank account.