Discover Bank IRA CD Rates for July 2013

discover bankDiscover Bank has, once again, updated its IRA CD rate chart. Below are Discover Bank’s IRA CD rates effective July 16, 2013:

IRA CD Rate Chart
Term Interest Rate APY
3 Months 0.35% 0.35%
6 Months 0.65% 0.65%
9 Months 0.70% 0.70%
12 Months 0.80% 0.80%
18 Months 0.85% 0.85%
24 Months 0.95% 0.95%
30 Months 1.00% 1.00%
3 Years 1.14% 1.15%
4 Years 1.29% 1.30%
5 Years 1.49% 1.50%
7 Years 1.78% 1.80%
10 Years 1.88% 1.90%

The bank has also featured its 3 year term IRA CD which is set at 1.15%APY. The best IRA CD rate for July 2013 does not however include Discover Bank as it only features GE Capital Bank as the leading bank offering the best IRA CD rate for the month, but if you look back to as far as Discover Bank’s IRA CD rates back in May 2013 and April 2013, you will see that the IRA CD rates of Discover is still very competitive though rates are down to as much as 0.5% in some of the IRA CD rate term.

For example, in May 2013, the bank featured a 3 year term IRA CD at 1.20%APY. To date, it is at 1.15%APY or a difference of 0.5%APY. Same holds true for the bank’s other IRA CD terms.

 

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