Discover Bank IRA CD Rates November 2013

Discover Bank has updated its IRA CD rate chart and featured a 3-year term IRA CD at 1.25%APY. The bank’s updated rate chart also showed the following IRA CD terms and rates:

IRA CD Rate Chart
Term Interest Rate APY1
10 Years 1.88% 1.90%
7 Years 1.78% 1.80%
5 Years 1.64% 1.65%
4 Years 1.39% 1.40%
3 Years 1.24% 1.25%
30 Months 1.09% 1.10%
24 Months 1.04% 1.05%
18 Months 0.95% 0.95%
12 Months 0.85% 0.85%
9 Months 0.70% 0.70%
6 Months 0.65% 0.65%
3 Months 0.35% 0.35%

If you are one of those monitoring Discover Bank’s IRA CD rates, you will recall that back in July this year, the bank also featured the same 3-year term IRA CD, but at 1.15%APY. In other words, in a span of four months or from August to November, there is an increase of 0.10%APY of Discover Bank’s 3-year term IRA CD. Now, this is something that is worth checking considering that interest rates are at an all time low at this time.

Last month’s IRA CD rate monitoring also showed an increase of 0.10%APY in its 12 month term IRA CD but which currently now stands at 0.85%APY. Either way, it is just a matter of choice as to where you will invest your money.
GE Capital Bank is one choice which currently offers a 12 month CD rate at 1.05%APY. This is by far the highest CD rate in the market or perhaps you could try credit unions which may be offering a better rate than this one.

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