Discover Bank IRA CD Rates August 2011

Discover Bank’s IRA CD rate chart for the month of August 2011 showed a consistent 3.00%APY for a 10 year term IRA CD. During the months of March 2011 and April 2011, Discover Bank’s 3 month IRA CD was 0.55%APY, but now it is down to 0.50%APY. A decrease of 0.05%APY from its March 2011 and April 2011 rate of 0.55%APY. Although 0.05%APY is not a lot, still it will make a huge dent if you are catching up the years for your retirement.

For the month of May 2011 and July 2011, Discover Bank IRA CD rates showed the same rates as that of August 2011.

Saving for retirement is a huge effort to those who are always cash strapped, but it is a very important retirement investment. The tax advantages of investing in an IRA is a great plus. As a tax free investment, you can always count on growing your money without worrying about taxes.

Herein below is Discover Bank IRA CD rates for August 2011:

Term Interest Rate APY
3 Months 0.50% 0.50%
6 Months 0.90% 0.90%
9 Months 1.00% 1.00%
12 Months 1.19% 1.20%
18 Months 1.29% 1.30%
24 Months 1.39% 1.40%
30 Months 1.49% 1.50%
3 Years 1.73% 1.75%
4 Years 1.98% 2.00%
5 Years 2.32% 2.35%
7 Years 2.57% 2.60%
10 Years 2.96% 3.00%

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