Discover Bank – CD Rates
I’ve been targeting 3-posts a week and so far I’m a little behind. But last week was shortened by a Friday absence and this week we have the very important Veteran’s Day. Regardless I hope all of the bank rate postings have been helpful. By the way, I also tried to do my part to spur on the economy by freeing up some monthly expenses, but at this point was unable to re-finance. The sad thing is I could probably force one, but I don’t like the idea of just stopping my payments when I can in fact afford to make them. I believe I made an agreement, and I plan on fulfilling it even though it seems the “good guys” are getting the shaft. Oh well, enough of my rant. Today I bring you Discover Bank.
Discover Bank has for the most part remained in good standing. The bank backs their credit card business so they don't have a bunch of mortgage loans going bad. Looks like they are doing good. When we last updated them in 2010, the 2nd quarter profit number was $48MM. It jumped up to $308MM in the 3rd quarter. For all of 2011, the profit was $2.1BB. That is a considerable increase.
| FDIC# | 5649 |
| Stats Updated: | 12/11 |
| Star Rating: | 5 (*****) |
| Assets: | $67.0BB |
| Equity: | $6.9BB |
| Capital Ratio: | 10.46% |
| Profits(loss): | $2.1BB |
| Phone#: | (800) 347-7000 |
| Contact: | Customer Service |
| Address: | 502 E. Market Street Greenwood,DE 19950 |
| Penalty: | 6-month loss of interest (5-year CD) |
| Website: | http://www.discoverbank.com/cd.html |
Discover Bank has retail and institutional rates. I haven't dealt with the retail side of things, but the folks on the institutional side are wonderful. Individual investors can open a CD on-line or over the phone. Institutional investors have to complete a series of forms. Once all documentation has been completed, Discover Bank issues an account# to wire into. The 6-month penalty is a nice feature as well. Their CD rates are competitive.
| Retail CD Rates | |
| Updated: | 4/17/12 |
| 1-Year: | 0.90% |
| 18-Months: | 0.95% |
| 2-Year: | 1.15% |
| 3-Year: | 1.35% |
| 4-Year: | 1.55% |
| 5-Year: | 1.75% |
| 10-Year: | 2.25% |
So go forth and "discover" yourself some yield, Man.
cd :O)
Related Posts:
- Discover Bank New CD Promotion
- Discover Bank Promo
- North American Savings Bank – CD Rates
- Flushing Savings Bank, FSB – CD Rates
- Bank of Internet USA- CD Rates
-- By +Chris Duncan
Daily Futures Commentary for June 16, 2009…
We loved your article, so we (JutiaGroup) would be interested in hearing from you, our readers might find your site of interest….
[edit: URL removed from comment. Seemed to be automated. I did send a message to the entity and if they respond appropriately, I will return the comment to its original form -- cd :O) ]