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CD ladders: Peace of mind for your money

A CD ladder lets you spread a lump sum of cash across multiple CDs to help you access your money more frequently.

Learn more about CD accounts

  • More opportunities to withdraw your money

    Opening multiple CDs with varying term lengths means you have more access to your money than a single long-term CD.

  • Worry less about trying to time the market

    If interest rates rise, you can take advantage of the higher rate the next time a CD in your ladder renews.

  • Save with confidence 

    Every CD account you open is FDIC-insured up to the maximum allowed by law.
No matter your financial strategy, our Certificate of Deposit rates can help you earn more on your terms.
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    3-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    6-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    9-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    12-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    18-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    24-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    30-month term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    3-year term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    4-year term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    5-year term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    7-year term
  • %APY

    Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX, 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. No minimum deposit required to open an account.    
    10-year term
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Open your CD account today

How to build a CD ladder

1

Define your savings goals

Decide how much you're willing to invest and how often you'd like access to your money.
2

Divide your investment

Open multiple CDs with varying maturity dates and spread your investment across each of them.
3

Renew or cash out

When each CD matures, you can renew it or simply withdraw the full amount into a high yield savings account.
CD Ladder Chart

Build your own CD ladder today

Explore CDs

CD ladder vs a long-term CD

CD ladder

  • More frequent access to your money
  • Multiple CDs to manage
  • Guaranteed returns

Example: $5,000 in a 12-month CD, $5,000 in a 24-month CD, and $5,000 in a 36-month CD.

Long term CD

  • Less frequent access to your money
  • One CD to manage
  • Guaranteed returns

Example: $15,000 in a single 36-month CD.

CD ladder FAQ

View CD FAQ

There is no minimum deposit to open a Discover CD Account.

At the time of application, you’ll have the option to fund now or fund later.

If you choose fund now, you can typically fund your CD account in one of the following ways:

  • Transfer from an eligible Discover bank account you own (internal transfer)
  • Transfer from an external bank account you own (external transfer via ACH)

If you choose fund later, you can fund your CD account in one of the following ways:

  • Transfer from an eligible Discover bank account you own (internal transfer); you can initiate this transfer by sending a secure message or calling us
  • Mail a check that includes your CD account number, made payable to you to:

         Discover
         PO Box 30417
         Salt Lake City, UT 84130

 *Please note that Travelers Checks will not be accepted.

  • Send a wire transfer; for domestic wire transfers (from another bank in the U.S.), please wire funds to:

         Beneficiary Bank: Discover Bank
         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

For more information about wire transfers or instructions for sending an international wire transfer, please refer to our “How do I receive a wire transfer” and “Is there a fee for receiving a wire transfer” FAQs.

Interest is compounded daily and credited to your account monthly.

If we receive your deposit before your Account is opened, interest will begin to accrue on the deposit on the Business Day your Account is opened. Once an Account is opened, interest begins to accrue on a deposit on the Business Day we receive your deposit.

Yes, funds in Discover deposit accounts are FDIC-insured up to the maximum amount allowed by law. For more information, visit our FDIC information page.

Learn more about CDs

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Want to build your nest egg while avoiding risky investments? Learn how with a CD ladder.
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Follow these step-by-step directions to open a certificate of deposit (CD) account online, plus tips to help you compare accounts.
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Considering whether to renew or close your CD? Here’s how to choose what’s best for you.
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Save with confidence—you’re FDIC-insured

  • FDIC deposit insurance is up to $250,000 per depositor, per insured bank, per deposit ownership category
  • May apply to retirement accounts
  • Coverage is automatic

Open your CDs today

Build a CD ladder that works for your money goals.

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