Discover IRA CD Rates for July 2012

Discover Bank features a 10 year online IRA CD at 2.25%APY. This IRA CD rate may not be tempting if you have second thoughts about the financial stability and strength of an online bank. However, bankrate.com has rated the bank as a Top Tier Quarterly Winner for consistent high yields for Q1 2012.

The bank offers flexible terms from 3 months to 10 years and you can open as little as $2,500.

Here are Discover Bank’s the IRA CD rates for July 2012:

3 months – 0.40%APY

6 months – 0.75%APY

9 months – 0.80%APY

12 months – 0.90%APY

18 months – 0.95%APY

24 months – 1.15%APY

30 months – 1.20%APY

3 years – 1.35%APY

4 years – 1.55%APY

5 years – 1.75%APY

7 years – 2.00%APY

10 years – 2.55%APY

We can compare the above IRA CD rates of Discover from previous months. In January 2012, the rates for its 3 months, 6  months, 9 months, 24 months, 30 months, 3 years, 4 years, 5 years and 7 years remained the same while the rest of the rates dropped. For example, there is a drop of 0.10%APY in its 1 year or 12 months IRA CD rate offer as this was 1.00%APY in previous months.

The bank also was not among those who offered a 1 year high yield CD above the 1.00%APY range.

There are many choices on where to invest your money, but it is important not only to see the financial strength and stability of the bank but also to see the trend in the rates offered like the one shown above. Identifying the trend of a particular IRA CD term is a good investment strategy.

 

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