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$25 Bonus On Discover Bank's 2% 12-Month CD - Nationally Available


Discover Bank is offering another CD promotion. Open a 12-month CD, and Discover Bank will add an extra $25 to the CD. Discover Bank's current 12-month CD rate is 2.00% APY as of 8/16/09. The promotion page is located at Two offer codes that appear valid as of 8/16/09 include D120124 and D120126. Some of the important small print includes:
  • $25 offer is valid through 12/31/09
  • Minimum deposit is $2,500 in new funds, and the funds must be received within 30 days of submitting application
  • Offer will be applied to your Discover Bank 12-Month CD account 90 days after new funds have been received
Credit for this find goes to FW member doreamon22 who mentioned it on the FW CD thread. I wasn't able to reach a Discover Bank service rep for additional details. I posted on a similar Discover Bank CD promotion on July 29th which offers a 1% cash-back bonus applied to a customer's Discover credit card. When I spoke to a CSR at that time, I was told the promo code was valid to any Discover customer. A reader also reported being told this same thing. However, another reader reported being told that the offer codes may be targetted. So your miles may vary.

If you only deposit $2,500, the extra $25 will make the CD equivalent to a 3% CD. However, if your deposit is $25,000, this drops down to 2.1%.

I have more details about Discover Bank CDs, money market account, and their new savings account in this previous post. It should be noted that some readers have reported customer service issues. Discover Bank is still offering 2.00% APY on their new online savings account as of 8/16/09.

Discover Bank has decent ratings for safety and soundness: 3½ stars (good) at BauerFinancial and 3 stars (performing) at Both ratings are based on 3/31/09 financial data. Discover Bank is a member FDIC (Certificate # 5649).

Other High Certificate of Deposit Rates
Related Pages: CD rates, IRA rates, Discover Bank, Salisbury

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Anonymous   |     |   Comment #1
OK, this is for new customer of Discover Bank not card holders. U dont need to be a card holder but u do need to be a NEW customer...
according to cs...
Anonymous   |     |   Comment #2
Now do they allow you to use your credit card to open the CD - this would allow you to add a percent or two to the rate (if you have a cash back card) - and of course if they handle it as a purchase and not as a cash advance (as does Citibank)
larkin   |     |   Comment #3
Is this available with multiple CDs? I'm thinking if you open 10 $2500 CDs you would make out better than opening 1 $25000 CD. Anyone?
Anonymous   |     |   Comment #4
Discover Bank messed up funding my CD. I opened a CD and a savings account at the same time and specified in the online application that they should be funded from my bank's savings account (there was no option to fund the accounts differently, they had to be funded from the same source). The Discover savings account was correctly funded from my bank's savings account, but the funding for the CD was drawn from my bank's checking account (my bank checking/savings accounts share the same account number). I didn't have sufficient funds in my checking account so this caused an overdraft charge. I'm trying to get this charge refunded, but I can't believe how incompetent Discover Bank is for messing this up.
Anonymous   |     |   Comment #5
Opened an account on August 18. The 90 day wait period has passed in order to credit the $25 bonus amount. Didn't happen and when I called the bank they were unable to verify that I was 'eligible' for the bonus since the account didn't reflect the promotion code. After speaking with his supervisor, I was told that the bank would be paying the bonuses for all these CD's on December 21.
Just in time for Christmas! Stall tactic? Will I be fighting this until August 18, 2010, you think?

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