Bank Rates provided by Discover Bank refer to the interest rates that the Bank offers with its’ Certificates of Deposit and Money Market Accounts.The Discover Bank was established long back in 1911. But, at that time, it was known as Greenwood Trust Company.
In the year 2000, the Greenwood Trust Company joined Discover Financial Services and finally got the name of Discover Bank.
Interest Rates offered by Discover Bank on the Certificates of Deposit:
If customers makes a certificate of deposit, worth $50,000 and above, and chooses the term period of 3 months, then he receives an interest rate of 3.10%.
The certificates of deposit of $50,000 and above earn 3.35% interest rate, if the term period is 6 months and earn 3.45% rate of interest, if the term period is of 9 months.
The CDs, worth $50,000 and more offer 3.50% and 3.65% rate of interest for, 1 year term period and 2 years term period respectively.
These certificates of deposit of $50,000 and above carry interest rate of 3.85%, in case the term period is of 3 years.
The customers who hold a CD, worth $50,000 and above, carrying a term period of 4 years, receive an interest rate of 3.90%.
The 5-year term period CDs of $50,000 and above earn 4.10% rate of interest.
Interest Rates offered by Discover Bank for the Money Market Accounts:
Discover Bank offers 3.45% rate of interest to the Money Market Account holders, for maintaining the account balance somewhere between $2500 and $24,999.
The customers, who maintain their account balance within the range of $25,000 and $49,999, receive an interest rate of 3.5%.
For an account balance above $50,000, the Discover Bank Money Market Accounts earn 3.55% rate of interest.
Last Updated on : 30th July 2013