Discover Bank just cut most of its CD rates. Its 7-year and 10-year CDs had been very good deals due to comparatively mild early withdrawal penalty. Unfortunately, the lower rates make these less of a deal.
Some of the notable CD rate cuts:
- 3.00% APY 10-year CD (was 3.25%)
- 2.90% APY 7-year CD (was 3.00%)
- 2.75% APY 5-year CD (was 2.90%)
- 2.25% APY 4-year CD (was 2.30%)
- 2.00% APY 3-year CD (was 2.10%)
- 1.35% APY 1-year CD (was 1.45%)