Guaranteed returns, peace of mind included.

for a 24-month term
Step-by-step helpavailable 24/7 by phone


Some choices are just easy.

Select your IRA CD term

Discover Bank
1.00 Info
0.05 Info
0.05 Info
0.02 Info


Which IRA CD is right for you?

Pay now,
save later

Funded with after-tax dollars.

Earnings and withdrawals are tax-free. Contributions are not tax deductible.

Limitations Apply

Earn now,
pay later

Funded with pre-tax dollars.

Earnings are tax-deferred. Tax-deductible up to certain income limits.

Limitations Apply


Here’s how much you can invest. Info

Roth IRA

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per year

Traditional IRA

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per year

Roth IRA

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per year

Traditional IRA

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per year


Find out the most you can invest each year. Info

How old are you?

Select your age

What’s your modified adjusted gross income?


What’s your filing status?

Select One
  • Select One
  • Single Filer
  • Married Filing Jointly
  • Married Filing Separately
  • Married Filing Jointly: Only your Spouse Participates in an Employer Retirement Plan
  • Married Filing Jointly: You Participate in an Employer Retirement Plan

Questions? Call 1-800-347-7000 to have one of our helpful IRA Specialists assist you during the application process.


Gather your retirement savings
into one place.

Rollovers Info
Rollover money from another type of retirement account into one of ours

Enjoy tax benefits, keep earning interest, and avoid fees

Consolidate investments to make life easier

Transfers Info

Transfer an IRA from another financial institution to Discover Bank

Make as many transfers as you want each year

Combine smaller IRAs into one larger account


Think long-term so you’re covered when you need it.

Term Interest Rate APY Info Earned Interest Info
10 Years      
7 Years      
5 Years      
4 Years      
3 Years      
30 Months      
24 Months      
18 Months      
12 Months      
9 Months      
6 Months      
3 Months      


Just three steps and you’re on your way to saving with a Discover IRA CD.

Set up your account

We'll need your physical address, phone, email and social security number (or other taxpayer ID).

Fill out the forms

Within 7-10 days of setting up your account, you'll receive the required paperwork for your signature.


Watch for your confirmation letter that your funding has gone through and save it for your records.


1-800-347-7000 to have one of our U.S.-based Banking Specialists help with any questions during the application process.


Learn more about long-term investing with IRA CDs.


Here's what other people like you wanted to know about our IRA CDs.

When choosing which type of IRA to open, you should consider factors such as your taxable income, age, and Tax Filing Status. You may want to consult a financial advisor or tax professional to help you determine which type of IRA is best suited to your needs. You can also call our IRA Specialists at 1-800-347-7000 to discuss available products.

Some contributions to Traditional IRAs are tax deductible and most distributions are taxable. A Roth IRA is a retirement plan for contributions made with after tax dollars. Contributions are nondeductible and all qualified distributions are tax free.

Yes. However, a conversion from a Traditional IRA to a Roth IRA may have tax consequences. Consult a financial adviser or tax professional for guidance. For assistance in completing a conversion, please contact an IRA specialist at 1-800-347-7000.

A Traditional IRA may be converted to a Roth IRA as a direct or indirect conversion. In a direct conversion you never have access to your money. It is sent bank to bank and directly placed into a Roth IRA on your behalf. An indirect conversion is similar to a Rollover. You will receive a check made payable to you that can be deposited into your new Roth IRA account.

Consult a financial advisor or tax professional for guidance. For assistance in completing a conversion, contact an IRA Specialist at 1-800-347-7000 for additional information.

When you transfer an IRA, the funds are moved directly from one financial institution to another. The transfer check is made payable to your financial institution for your benefit. Because you don't handle the funds directly, the transaction is not considered a distribution. There is also no limit to the number of transfers you can make.

When you rollover funds, you receive the funds through a distribution from your IRA, and then you have 60 days to deposit the funds into another IRA or other retirement plan in order to avoid tax consequences. IRA owners are limited to only one IRA-to-IRA rollover in any 12 month period.

For both transfers and rollovers, funds need to be moved between the same type of IRA account. For example if you have a Traditional IRA you can only transfer or rollover funds from another Traditional IRA.

Rollovers and transfers are not counted toward your annual IRA contribution limits.

IRA owners are limited to only one IRA-to-IRA rollover in any 12 month period and you can rollover as much money as you want.

Yes, you can have both Traditional and Roth IRA accounts at Discover Bank. Your Traditional IRA accounts will be grouped into and administered under a single Traditional IRA plan, and Roth IRA accounts will be grouped into and administered under a single Roth IRA plan. Additionally, if you maintain Inherited IRA accounts, they will also be in separate plans because they need to be titled separately.

You may not contribute more than the annual allowable maximum across all of your Traditional and Roth IRA accounts at all of your financial institutions.

Yes, you can contribute to both plan types. Your annual contribution can be divided between both types as long as you meet the eligibility requirements for each IRA type. For advice on the best way to contribute, you may want to consult a financial advisor or tax professional. For general questions and information regarding your IRA Accounts, you can call our IRA Specialists at 1-800-347-7000.

Yes. We encourage all of our IRA account holders to designate at least one beneficiary by completing a beneficiary form.PDF Document We also suggest updating your beneficiary information on a regular basis. If a beneficiary is not designated, any beneficiary payment will generally go to the IRA owner's estate, which is subject to any applicable community property state law requirements.

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