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Bank of China Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Bank of China’s checking account options

Regular Personal Checking

This account bears no interest and comes with a pesky monthly maintenance fee if you don’t meet minimum balance requirements.
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $10, if your balance falls below $1,000
  • ATM fee: None
  • ATM fee refund: First 2 ATM fees charged by outside ATM owners per month will be refunded as long as you maintain a $1,000 balance.
  • Overdraft fee: None. You will not be able to overdraw your account. If you do not have enough money for a transaction, that transaction will be declined.

Regular Personal Checking is the only Bank of China deposit account that does not pay interest. That would be fairly standard if the account were fee-free, but it’s not. If you do not maintain the required minimum balance, which is quite high for a checking account that doesn’t bear interest, you will have to pay a monthly fee.

This account is nearly identical to the Personal Checking NOW account, which does bear interest. If you’re going to meet the minimum balance requirements anyway, you may as well skip Regular Personal Checking and jump to the account that actually offers an APY.

How to get Bank of China’s Regular Personal Checking Account

To open this account, you will need to bring in two forms of personal ID to one of the bank’s two branches in New York City. You will fill out some paperwork, which will be reviewed over the course of one to two weeks. At that point, if you are approved to open an account, you will provide the initial deposit.

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Personal Checking NOW

This checking account bears interest, although it is a small amount.
APYMinimum Balance to Earn APY
0.05%
$500
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $10 if your balance falls below $1,000
  • ATM fee: None
  • ATM fee refund: First 2 ATM fees charged by outside ATM owners per month will be refunded as long as you maintain a $1,000 balance.
  • Overdraft fee: None. You will not be able to overdraw your account. If you do not have enough money for a transaction, that transaction will be declined.

Similar to the Regular Personal Checking account, Personal Checking NOW also comes with a monthly maintenance fee with a fairly high minimum balance requirement for a checking account. The minimum opening deposit is also the same, along with the ATM fee refund policy for your first two transactions per month at outside ATMs.

However, this account pays interest. That’s the good news. The bad news is that the APY is extremely low. Interestingly, the minimum required balance to earn that APY is far lower than the minimum required balance to avoid the monthly maintenance fee and gain the ATM fee refund benefit. That means you could potentially continue earning interest even while paying penalty fees. The rate is so low, though, that the APY won’t make up for the fees you’ll incur. It’s better to make sure you maintain the higher of the two minimum balance requirements.

How to get Bank of China’s Personal Checking NOW Account

As with all of Bank of China’s American accounts, you will not be able to open this account online. Instead, you’ll have to take in two forms of ID to one of its New York City branches and be willing to wait one to two weeks for account approval.

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How Bank of China’s checking accounts compare

Because the biggest difference between Regular Personal Checking and Personal Checking NOW is the fact that the latter offers interest, we will look only at that account in this comparison. There’s not much incentive to open Regular Personal Checking.

Personal Checking NOW offers a very low APY, which isn’t all that uncommon for brick-and-mortar financial institutions. At online-only institutions like the ones on our list of best checking accounts, you can find far higher rates with smaller fees and lower minimum balance requirements.

Bank of China’s savings account options

Statement Savings

This low-interest savings account pays an identical APY to Personal Checking NOW.
APYMinimum Balance to Earn APY
0.05%
$100
  • Minimum opening deposit: $500
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $10 if your balance falls below $500
  • ATM fee: None
  • ATM fee refund: First 2 ATM fees charged by outside ATM owners per month will be refunded as long as you maintain a $500 balance.
  • Overdraft fee: None. You will not be able to overdraw your account. If you do not have enough money for a transaction, that transaction will be declined.

Usually, savings accounts pay a higher APY than checking accounts, whether your bank is brick-and-mortar or online. It’s a little odd that Bank of China’s Statement Savings pays a rate identical to that of Personal Checking NOW. Minimum balance requirements are far lower, though, which is a bit ironic as ideally, you’d be storing more money in your savings account than your day-to-day checking.

Savings accounts in the U.S. are subject to federal Regulation D. This rule allows you to make up to six certain transfers or withdrawals per month from your savings account before Bank of China charges an excessive withdrawal fee of $10 per withdrawal or transfer, thereafter.

How to get Bank of China’s Statement Savings

To open this account, you will need to bring two forms of ID in to one of the New York City branches. You will then need to wait one to two weeks for account approval as the paperwork is filed.

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How Bank of China’s savings accounts compare

If Bank of China is lagging behind in interest rates for checking accounts, they’re getting lapped by the competition for rates on savings accounts. You can find significantly higher rates on our list of the best savings accounts, and most of these alternatives will allow you to apply for your account online, eliminating the waiting period and giving you access to your new account right away.

Bank of China’s CD rates

Certificates of Deposit

Extremely low interest rates ruin an otherwise reasonable product.
TermAPY
 1 Month0.10%
2 Months0.10%
3 Months0.10%
6 Months0.21%
9 Months0.21%
12 Months0.38%
24 Months0.63%
30 Months0.63%
48 Months0.91%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: Penalty on terms less than 24 months is 30 days’ worth of interest; terms of 24 months of more incur a penalty equivalent to 90 days’ worth of interest.

At first glance, Bank of China’s CDs are fairly standard. The minimum opening deposit requirement isn’t outlandish, and penalties are fair given similar fees charged by its competitors.

But when you start looking at APY offerings, these CDs fall apart. Rates are extremely low, making this difficult-to-open account not worth the hassle. You can find higher rates elsewhere, and you can find them at financial institutions that will not require you to visit a branch in order to open your account.

How to get Bank of China’s CDs

To open a CD, you’ll need to visit one of Bank of China’s two locations in New York City. Bring along two forms of ID and be prepared to wait one to two weeks for the paperwork to be filed.

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Super Time Deposit CDs

These special offers are nothing to write home about.
TermAPY
 6 Months0.24%
9 Months0.24%
12 Months0.41%
24 Months0.69%
30 Months0.69%
48 Months1.00%
  • Minimum opening deposit: $5,000 for terms through 24 months; $10,000 for terms of 30 months and higher.
  • Minimum balance amount to earn APY: $5,000 for terms through 24 months; $10,000 for terms of 30 months and higher.
  • Early withdrawal penalty: Penalty on terms less than 24 months is 30 days’ worth of interest; terms of 24 months of more incur a penalty equivalent to 90 days’ worth of interest.

Special Time Deposit CDs are meant to be Bank of China’s “specials.” For depositing a larger amount of money, you’ll be rewarded with a higher APY.

The problem is that the APY isn’t that much higher, yet the minimum required balance and deposit amounts are dramatically so. For upping your initial investment by $4,000 at the 6-month tier, you are rewarded with only a 0.03% rate bump over Bank of China’s regular CD. The greatest rate bump you’d see is only 0.09% over the regular CD if you invest an additional $9,000 off the bat on a 48-month term.

Grace periods on all of Bank of China’s CDs are 10 days. That means after your CD reaches maturity at the end of your term, you will have ten days to withdraw your money. If you do not, the money will be automatically renewed into a new CD of the same term length.

How to get Bank of China’s Special Time Deposit CDs

You will have to visit one of the two New York City branch locations with two forms of ID in order to open this account.

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How Bank of China’s CD rates compare

When you’re locking away your money for a set period of time, you want to make sure you’re getting the highest return possible. Bank of China does not allow you to do that. Instead, you’ll want to turn to our list of the best CD rates, which repeatedly beats Bank of China’s rates by entire percentage points, helping you grow your money at a faster clip.

Bank of China’s money market account options

Money Market Account

A money market account should not have the same APY offering as a checking account, yet this one does.
APYMinimum Balance to Earn APY
0.05%
$1,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $1,000
  • Monthly account maintenance fee: $10 if your balance falls below $1,000
  • ATM fee: None
  • ATM fee refund: First 2 ATM fees charged by outside ATM owners per month will be refunded as long as you maintain a $1,000 balance.
  • Overdraft fee: None. You will not be able to overdraw your account. If you do not have enough money for a transaction, that transaction will be declined.

In the past, you could expect a higher APY from a money market account than a basic savings account. The difference has shrunk in recent years as online-only banks have made their savings accounts extremely competitive, even putting some money market accounts to shame.

But there is very little excuse for a money market account paying the same amount of interest as a checking account. This is exactly what you’re getting when you open a Money Market Account from Bank of China.

Whenever you open a money market account, it’s important to remember that it’s subject to Regulation D, just like savings accounts. At Bank of China, that means that if you make more than six withdrawals/transfers per month, you will be charged by the bank an excessive withdrawal fee of $10 with each occurrence.

How to get Bank of China’s Money Market Account

Those who choose to open a Money Market Account at Bank of China will have to visit one of its two physical branches in New York City, prepared with two valid forms of ID.

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How Bank of China’s money market accounts compare

Bank of China’s Money Market Account does shine in some respects: its minimum balance and deposit requirement. There are only a handful of competitive accounts which have such low requirements.

However, among those handful of accounts on our list of best money market accounts, you will find significantly higher APY offerings. With an interest rate identical to its bank’s checking account, this money market account simply doesn’t hold up to the competition.

Bank of China’s IRA account options

IRA CD rates

Extremely low APY offerings on an already conservative investment.
TermAPY
 1 Month0.10%
2 Months0.10%
3 Months0.10%
6 Months0.21%
9 Months0.21%
12 Months0.38%
24 Months0.63%
30 Months0.63%
48 Months0.91%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: Penalty on terms less than 24 months is 30 days’ worth of interest; terms of 24 months of more incur a penalty equivalent to 90 days’ worth of interest.

Bank of China’s CD rates are the same whether they’re inside an IRA or not. While this isn’t incredibly uncommon, there are financial institutions out there which offer a rate bump when you open this account inside an IRA. An IRA CD is already a conservative investment, so you want to make sure you’re getting the most bang for your buck.

The IRA CD problems are further compounded by the fact that CD rates weren’t great to begin with. Even for certificates outside of an IRA, Bank of China’s APY offerings are not competitive.

On all IRA CDs, you want to remember that on top of any penalties charged by the financial institution, you are also likely to incur penalties and fees from the IRS if you withdraw your money before the age of 59 1/2.

How to get Bank of China’s IRA CDs

Bank of China’s cumbersome account application process actually isn’t out of the norm here. Most financial institutions are going to either require that you visit a branch in person or mail in your application. So while you will have to present in person at one of the two New York City branches, this process won’t look so different from your available application options at most financial institutions.

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How Bank of China’s IRA CD rates compare

Bank of China’s APY offerings on IRA CDs don’t come close to the best offers on the market. In fact, its highest rate, which is offered on a 48 month term, is almost an entire percentage point lower than the competitions’ best offering on an IRA CD with a 3 month term. Shop around on our list of the best IRA CD rates. You’re sure to find better rates elsewhere.

Overall review of Bank of China’s banking products

Currently, Bank of China’s deposit account offerings in the United States are not competitive. The rates offered are simply too low. These rates have not been updated since 2016, so it will be interesting to see if this financial institution gets more competitive in the U.S. when it finally does reevaluate its interest rate offerings.

Another problematic issue with the current setup is that travel to New York City must be convenient for you in order to open an account. Because all applications must be filed in person, the fact that there are only two Bank of China branches in one city that can file these applications is a major hurdle. It also makes things inconvenient as the paperwork takes far longer to file than electronic applications found at other financial institutions.

Bank of China isn’t the best banking option when you’re shopping for deposit accounts in the United States. It would take online applications becoming available, additional branches opening and interest rates rising for that statement to change.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brynne Conroy
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Brynne Conroy is a writer at MagnifyMoney. You can email Brynne here

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Credit Cards, Reviews

American Express Gold Card: Good Travel Rewards for a Fee

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. This site may be compensated through a credit card partnership.

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The American Express® Gold Card is an upgraded American Express charge card without a pre-set spending limit. It’s also a card that rewards cardholders with American Express Membership Rewards® Points for airfare, dining, gas, and grocery spending.

A charge card is one that you need to pay off completely each billing cycle, so there’s no interest. However, since there’s no pre-set spending limit either, you need to keep an eagle eye on spending activity to make sure you can pay off the statement in full at month’s end. Making a late payment can cause you to forfeit Membership Reward points earned during that billing cycle.

In this post, we’ll discuss the American Express® Gold Card terms and how to redeem points. Keep reading for an overview on:

  • American Express® Gold Card basics
  • How to redeem Membership Rewards points earned
  • The fine print details
  • The benefits and protections
  • The pros and cons

The basics of the American Express® Gold Card

3X Membership Rewards® points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).

$100 airline fee credit.

You can get up to $100 airline fee credit on your statement each calendar year to cover incidentals charged by an airline of your choosing. Qualifying incidentals are charges separate from your airline ticket like baggage fees and not ticket upgrades.

American Express® Gold Card

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American Express® Gold Card

Annual fee
$250
Rewards Rate
3X Membership Rewards® points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
Credit required
good-credit
Excellent/Good

How to redeem Membership Rewards® Points earned

Through Membership Rewards®, cardholders can transfer points to participating travel and lodging loyalty programs or redeem points for travel bookings, gift cards, statement credits, and other rewards. The value of your points varies depending on how you choose to use them.

Flights, hotels, and vacations

You can pay with points for flights, hotels, and vacations on the American Express Travel site. Using points for flights offers excellent value.

Here’s the point value breakdown on travel and accommodations:

  • Flights: $10 per 1,000 points
  • Hotels, cruises, and vacation packages: $7 per 1,000 points

Transferring your Membership Rewards® Points

If you choose to transfer your points to another program, generally, 1,000 Membership Rewards® Points will transfer as 1,000 miles, points, or credits.

However, transfers that have a different value include (as of the publication date of this article):

  • British Airways and Iberia: 250 Membership Rewards points = 200 Avios
  • El AL Israel Airlines: 1,000 Membership Rewards points = 20 Matmid points
  • Hilton: 1,000 Membership Rewards points = 1,500 HHonors points
  • JetBlue Airways: 250 Membership Rewards points = 200 JetBlue TrueBlue points
  • Starwood Preferred Guest: 1,000 Membership Rewards points = 333 Starpoints
  • Virgin America: 200 Membership Rewards points = 100 Elevate points

Occasionally, there are transfer specials for participating loyalty programs.

Statement credit and gift cards

Using points to put a dent in your credit card bill won’t be the best use of your points. 1,000 points equals just $6 in a statement credit.

Several of the gift cards through Membership Rewards® will give you more in cash value. For example, 1,000 points can get you a $10 gift card at restaurants, retail stores, and hotels including:

  • Hyatt Hotels and Resorts
  • Mandalay Bay Resort & Casino
  • Maggiano’s Little Italy
  • Seasons 52
  • Banana Republic
  • Crate and Barrel

There’s an entire list of the redemption values for gift cards on the Membership Rewards® site.

Other rewards

Using points for shopping, charitable donations, and entertainment are other redemption options. But, again, these options won’t give you as much value for your points as redeeming for flights and gift cards.

The value of 1,000 points ranges from $5 to $7 when shopping at retailers through Membership Rewards® or at Ticketmaster, Amazon.com, BestBuy.com, or Newegg.com.

The fine print

The American Express® Gold Card has an annual fee of $250. If you spend a lot of money on the card, the fee can be worthwhile. However, if you don’t spend a lot, you might want to consider a no fee option.

In addition – when you transfer points to a U.S. frequent flyer program, there’s a $0.0006 fee charged per point to compensate for the federal excise tax. Although this fee has a lot of zeros in it, the cost may still be impactful if you’re transferring a lot of points. For instance, 100,000 points transferred will cost you $60.

On the plus side, this card has no foreign transaction fee.

Benefits and protections

Car Rental Loss and Damage Insurance

If you pay for a qualifying car rental with your American Express® Gold Card, the rental car is covered against damage and theft after declining the collision damage waiver. Rentals that won’t qualify for coverage are trucks, off-road vehicles, full-size sport vehicles, and exotic cars.

Purchase Protection

If an item you purchase is lost, stolen, or damaged within 90 days of purchase, you may be reimbursed for it.

Pros and cons

Pro: 3X points on travel. If you fly often for work or play, this card rewards you well each time you use it.

Con: The fee. The biggest con here is the annual fee. But, since there are several ways you can earn points in the 3X and 2X categories, you may be able to easily cover this fee throughout the year.

Pro: Membership Rewards. This card is enrolled in the Membership Rewards® Points program and gives you many options for point redemption. The Membership Rewards® site is also incredibly easy to navigate, and there’s no ambiguity in point value. The rewards portal shows examples of exactly what your points are worth for each redemption option.

Con: The fee to transfer points. The ability to transfer points to another program is a pro, but being charged for U.S. frequent flyer program transfers is a tiny gotcha in the fine print.

Pro: No foreign transaction fees. One area in the fees where you do catch a break is with foreign transaction fees. This aspect of the card is fitting since it’s one that rewards you for planning travel.

Who will benefit most from the American Express® Gold Card?

Your ability to earn enough points to surpass the fee will determine whether this is a good card for you.

And if you’re shopping around for a rewards program that will give you the most value for travel, Chase Ultimate Rewards® is an option you should compare to American Express Membership Rewards®.

The Chase Sapphire Preferred® Card*, in particular, is part of the Chase Ultimate Rewards® program and allows you to transfer points to other travel partners as well. Plus, it has an offer that gives 1.25 cents per point for travel. This is slightly more value than what you get for flights with American Express Membership Rewards® since 1,000 points per $10 works out to 1 cent per point.

Before signing up for any rewards card, you should do this type of comparison shopping to figure out which offer will give you the most value for your spending habits.

*The information related to Chase Sapphire Preferred® Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Taylor Gordon
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Taylor Gordon is a writer at MagnifyMoney. You can email Taylor here

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Earning Interest, Reviews

Discover Bank CD Rates Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Discover Bank
Most people know Discover as a credit card company, but it also operates an online bank and offers some of the best rates and terms on checking and savings accounts and certificates of deposit (CDs).

Savings account bonus offer: Earn up to $200 on your first Discover savings account

As a bank, Discover offers some of the best products on the market. Currently, they’re offering a major deal on their online savings account, which currently earns 1.80% APY. If you apply for their savings account for the very first time by 12/02/19 and deposit a balance of at least $15,000 by 12/16/19, you can earn a $150 bonus. If you deposit a balance of at least $25,000 by the same date, you can earn a $200 bonus. Applying for the account is easy as you don’t need to go to a branch. Bonuses will be credited to your account by 12/30/19. You can apply online or over the phone. Just be sure to enter or mention the promo code MM1119 when you apply.

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If you’re looking for CDs in particular, Discover is currently considered to have some of the best CDs due to their customer service and digital tools.

Discover Bank CD rates

CD term

Annual Percentage Yield (APY)

3 months

0.35%

6 months

0.65%

9 months

0.70%

12 months

2.10%

18 months

2.10%

24 months

2.15%

30 months

2.15%

3 years

2.15%

4 years

2.15%

5 years

2.20%

7 years

2.25%

10 years

2.30%

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How do Discover Bank CD rates compare?

While Discover Bank CD rates aren’t always the highest available, they are consistently among the top offers across all terms. However, you may be able to find a similar or even better rate with a CD that has a lower minimum deposit than Discover’s $2,500 requirement. Currently, several nationwide banks offered a 12-month CD at a rate higher than Discover’s 12-month CD APY, while requiring a lower minimum deposit. For example, at the same time the above rates were available at Discover, there were 12-month CDs with rates as high as 2.10% APY with a lower minimum balance amount to earn the APY.

It’s always great to go for the highest interest rates possible, but keep your CD investing strategy in mind. If you’re investing in CDs using the ladder strategy, it might be easier to keep everything in one bank since you’ll be switching in and out of CDs frequently.

Discover also stands out from its competition in the CD space with its mobile app and 24/7 U.S.-based customer service. If you value such features, keep those particulars in mind when weighing Discover CD rates against others’.

What you need to know about Discover Bank’s CDs

Discover Bank is very transparent in terms of fine print. It’s not difficult to understand what’ll happen with your money after you invest it. We’ll cover the basics here about what you need to know to invest in Discover Bank’s CDs.

How to open a CD

It’s very simple to open up a CD with Discover Bank. Go to their CD webpage and click on the orange “Open an Account” button near the top right of the page. You can then choose which accounts you’d like to open. Select “CD,” choose a CD term and enter how much you’d like to deposit.

You’ll then need to complete the application by providing your name, address, date of birth, phone number, Social Security number, employment status and possibly even your driver’s license. Once your application is complete and accepted, you’ll need to fund the account.

How to fund the CD

You’ll need to fund it within 45 days of submitting your application, which you can do in one of three ways:

  • Transfer funds from another bank account over the phone. (You can only do this when you first fund your account.)
  • Transfer funds from another bank via online transfer.
  • Write a check to yourself and send it to the following address:Discover Bank
    P.O. Box 30417
    Salt Lake City, UT 84130

The minimum deposit amount for each of Discover Bank’s CDs is $2,500. Once you open a CD, you can’t deposit more money later, so it’s a good idea to make sure you have all the cash you want to invest before you open the account.

Withdrawing funds from the CD

When you want to withdraw money from your CD, the biggest thing to consider is whether that CD has matured yet, or finished its term.

If your CD has not matured, you’ve got options: You can take the interest out penalty-free at any time, or you can withdraw the principal (or the money you deposited) at any time as long as you pay an early-withdrawal penalty. This penalty varies depending on the original term of your CD:

  • less than one year: three months’ worth of simple interest
  • one year to less than four years: six months’ worth of simple interest
  • four years: nine months’ worth of simple interest
  • five years to less than seven years: 18 months’ worth of simple interest
  • seven years or longer: 24 months’ worth of simple interest

If your CD has finished its term, you can withdraw your money penalty-free, allow the CD to renew or roll it into a CD of a different term length. (More on that in a bit).

Earning interest on a Discover CD

Your CD will start earning interest on the same business day that you fund the account. The interest will be added to your account once each month, however.

When it comes to what to do with your interest, you have two options: The default option is to allow it to compound within the CD (meaning you’ll earn interest on that interest), or you can have it automatically deposited each month into another Discover bank account.

What happens once the CD matures?

You’ll get a heads-up notice about a month before your CD matures so you can decide what to do with the money. You have two main options: Either reinvest it into another CD (of the same term length or a different term length), or withdraw the money from the CD and put it into another account (such as a checking or savings account, or perhaps a CD at a different institution).

If you don’t let Discover know what you want to do with the maturing CD, the CD will automatically renew into another one of the same term length. You have a nine-day grace period after your CD automatically rolls over to make any changes or withdrawals penalty-free.

The bottom line

As far as big-name banks go, Discover offers great CD products. Wells Fargo, for example, only offers interest rates as high as 1.55% APY on a $5,000 deposit for a 58-month CD. Chase Bank offers even lower maximum rates — an abysmal 1.05% APY, and only if you can commit a minimum of $100,000 for 10 years.

If you’re the kind of person who likes to keep your finances in one place, Discover also has great credit cards, as well as competitive online savings and checking accounts. No matter how long you’re considering putting money in a CD, Discover is worth a look. Even if it doesn’t have the best available rate, it’s usually within several basis points of the top offerings and well above the average APY.

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Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lindsay VanSomeren
Lindsay VanSomeren |

Lindsay VanSomeren is a writer at MagnifyMoney. You can email Lindsay here