Below are updated Discover Bank CD Rates.

3 months  - 0.40%APY

6 months  –  0.80%APY

9 months – 0.90%APY

12 months – 1.10%APY

18 months – 1.20%APY

24 months – 1.30%APY

30 months – 1.40%APY

36 months/3 years – 1.60%

48 months/4 years – 1.75%APY

60 months/5 years – 2.15%APY

84 months/7 years – 2.25%APY

120 months/10 years – 2.50%APY

The 3 months, 6 months, 9 months and 3 years CD rates are down by 0.10%. The 12, 18, 24 and 30 months as well as the 4 and 5 years CD rates are down by 0.05%. The 7 year term CD rate is also down by 0.20%. The biggest drop is on the 10 year term CD, which dropped 0.50%.

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Discover Bank, which is a bankrate.com Top Tier Quarterly Winner in Q2 2010 for high yields, is offering yet another high yield CDs for September 2011. The offered CD rates below apply to personal accounts only for terms from 3 months to 10 years and are based on a $2,500 minimum balance. However, before we delve into Discover Bank’s CD rates, let’s check the bank’s fee schedule for CD accounts. Herein below are the fees which may be imposed by the bank to your account:

• Both domestic and international wire transfers are FREE

• Outgoing domestic wire is $20

• Outgoing international wire is $40

• If you want to request copy of your statement or check deposit item, the fee is $5

• Returned deposit item is $15

• Withdrawal by official bank check is $5. Note that the fee is per check.

Discover Bank CD rates are competitive and are above the national average. Please see below rate schedule of Discover Bank’s CD rates for September 211. These CD rates are effective as of September 13, 2011.

3 months  - 0.50%APY

6 months  –  0.90%APY

9 months – 1.00%APY

12 months – 1.15%APY

18 months – 1.25%APY

24 months – 1.35%APY

30 months – 1.45%APY

3 years – 1.70%APY

4 years – 1.80%APY

5 years – 2.20%APY

7 years – 2.45%APY

10 years – 3.00%APY

If you are contemplating of preparing for retirement, you may want to check Discover Bank’s IRA CD rates. Or, if you are looking for a long term IRA CD, you can check the best 7 year IRA CD rates for September 2011. Please note that these bank IRA CD rates changes often so check directly with the respective banks before account opening.

• Transportation Alliance Bank offers 1.26%APY. Minimum amount to open is $1,000.
• Nationwide Bank offers 1.25%APY. Minimum amount to open is $500.

• Discover Bank offers 1.20%APY. Minimum amount to open is $2,500.
• OneWest Bank offers 1.20%APY. Minimum amount to open is $1,000.
• AIG Bank offers 1.15%APY. Minimum amount to open is $2,500.
• giantbank.com offers 1.11%APY. Minimum amount to open is $1,000.
• USAA offers 0.91%APY. Minimum amount to open is only $250.00.
• Metlife Bank 12 month IRA CD rate is 0.90%APY and the minimum amount to open is $2,000.
• ING Direct 12 month IRA CD rate is 0.75%APY, but there is no minimum amount required to open an IRA account.
• Bank of America’s 12 month IRA CD rate is 0.45%APY and the minimum requirement to open the IRA account is $3,000.

You have to bear in mind that some banks change their  IRA CD rates without notice so it is best to visit a bank branch or the bank’s website to check for the current IRA CD rate. Also, some banks offer great IRA CD rate online however you must be comfortable with this online banking transaction. Don’t go for it if you have any doubts with online banking.

According to its December 2009 rate sheet, State Farm Bank IRA CD rates are as follows:

For less than $100,000 deposits, the APYs are:

• 1 year – 1.14%APY
• 2 years – 1.42%APY
• 3 years – 1.68%APY
• 4 years – 1.78%APY
• 5 years – 2.80%APY

Deposits with over $100,000, earn the following APYs:

• 1 year – 1.15%APY
• 2 years – 1.45%APY
• 3 years – 1.69%APY
• 4 years – 1.79%APY
• 5 years – 2.82%APY

Take notice that the bank’s rate sheet differs by state.