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Police and Fire Federal Credit Union 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.

Police and Fire Federal Credit Union’s checking account options

Free PFFCU Checking

A high APY and low fees make this one of the best checking accounts on the market if you keep a relatively small balance.
APYMinimum Balance to Earn APY
1.00%
$0.01
0.10%
$5,000
  • Minimum opening deposit: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: 12 free out-of-network transactions per month. Each subsequent transaction will be accompanied by a $1 fee.
  • ATM fee refund: None
  • Overdraft fee: $6 if you overdraw on a debit card purchase; $19 if you overdraw via check or an ACH transaction.

If you are eligible for membership with Police and Fire Federal Credit Union, you’re fortunate enough to qualify for one of the best checking accounts on the market. The interest on this account is phenomenal, especially for a brick-and-mortar financial institution. Many of the best rates today come from online-only financial institutions that have much smaller overhead costs and then pass on the savings to consumers. Police and Fire Federal Credit Union is one of the shining exceptions. Just bear in mind that your APY will go down if your balance hits over $5,000.

The low fees on this account also make it extremely attractive. There is no monthly maintenance fee, and you have to go through a lot of out-of-network transactions before incurring any costs at the ATM. On top of that, the overdraft fees at Police and Fire Federal Credit Union are some of the lowest around. You have to opt into the “Courtesy Overdraft” program when you sign up for the account to receive the service, but that’s as simple as checking a box.

If you are a new member, you can open a checking account with your initial membership application. Be prepared to provide your Social Security number, current address, date of birth and government-issued ID. If you are already a member, you will have to open your account over the phone or in person.

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How Police and Fire Federal Credit Union’s checking account compares

Free PFFCU Checking ranks right up there with the best of the best checking accounts. High dividends and low fees make it one of the most competitive offers on the market.

That being said, if you plan on keeping more than $5,000 in checking, this may not be the account for you, as dividends drop after you hit that threshold. But if you’re living paycheck to paycheck like most Americans, this account is likely one of the best choices for you.

Police and Fire Federal Credit Union’s savings account options

Savings

There’s nothing too exciting about this mandatory savings account which establishes your credit union membership.
APYMinimum Balance to Earn APY
0.10%
$5
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: 12 free out-of-network transactions per month. Each subsequent transaction will be accompanied by a $1 fee.
  • ATM fee refund: None
  • Overdraft fee: $6 if you overdraw on a debit card purchase; $19 if you overdraw via check or ACH transfer.

While Police and Fire Federal Credit Union’s checking account is exciting, its savings account is decidedly not. You will need to open this account in order to establish your credit union membership, though. The $5 you put in to open the account will have to stay there so you can maintain your membership.

Dividends on this account are decidedly low. While the fees are also low or even nonexistent, this isn’t the best account to stash your savings in. You can get much better rates elsewhere.

You can open this account online, over the phone or in person with your Social Security number, date of birth, current address and government-issued ID.

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Holiday & Vacation Club Accounts

Extremely flexible — but bear no interest.
  • Minimum opening deposit: $0.01
  • Minimum balance to earn APY: N/A
  • Monthly account maintenance fee: None
  • ATM fee: 12 free out-of-network transactions per month. Each subsequent transaction will be accompanied by a $1 fee.
  • ATM fee refund: None
  • Overdraft fee: $6 if you overdraw on a debit card purchase; $19 if you overdraw via check or ACH transfer.

Club accounts are used to save for specific purposes. Traditionally, you would set aside a certain amount of money every month, and then your financial institution would release your funds to your checking account on a set date. For example, on a holiday club account, your funds may be transferred on Nov. 1. For a vacation club account, those funds may be released to you sometime in the late spring. If you decided to withdraw money early, you’d be hit with a penalty fee.

But Police and Fire Federal Credit Union’s club accounts don’t work that way. Instead, they’re a simple savings account with 0% APY from which you can withdraw money at any time with no fees. Your money will not automatically be transferred to checking at any time. Essentially, they’re accounts that allow you to organize your savings rather than penalizing you for touching that savings.

These accounts are subject to federal Regulation D. This means that you are allowed to make up to six certain debits per month. If you go over this transaction limit enough times, Police and Fire Federal Credit Union will talk to you about converting this account to a checking account in order to stay compliant with federal regulations.

You will have to be an established member to open this account. If you are, you can open this account online, over the phone or in person with your Social Security number, phone number and email address.

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How Police and Fire Federal Credit Union’s savings accounts compare

While no or low fees make Police and Fire Federal Credit Union’s savings accounts appealing, that’s about where the benefits end. The interest is extremely low or nonexistent, and the fact that you can withdraw from a humdrum account at any time removes the main purpose of the account.

You will need the savings account to establish your membership. But after you’ve done that, look at this guide to high-interest savings accounts for your basic savings account needs.

Police and Fire Federal Credit Union’s CD rates

Certificates

Average dividends make shopping around a smart idea.
TermAPY
3 Months1.30%
6 Months1.35%
9 Months1.40%
12 Months1.50%
15 Months1.55%
18 Months1.60%
24 Months1.70%
30 Months1.75%
36 Months1.80%
48 Months1.90%
60 Months 2.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 3 month certificates will lose all dividends; 6 month certificates will be charged a penalty equal to 90 days’ worth of dividends; certificates with terms of 9 to 24 months will be charged the equivalent of 180 days’ worth of dividends; 30 to 60 month certificates will incur a penalty equal to 360 days’ worth of dividends.

Both the dividends and fees on Police and Fire Federal Credit Union’s certificates are fair, but nothing more. While rates aren’t terrible and fees are on par with what you’ll find at other financial institutions, you can find a higher APY elsewhere.

You can open your certificate online, in person or over the phone with your member number, Social Security number, phone number and email address.

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How Police and Fire Federal Credit Union’s CD rates compare

While rates aren’t tragically low, you’ll still be able to find better offers on certificates of deposit from other financial institutions. When you’re locking away your money for a set period of time, you want to make sure it’s earning the highest return possible, making shopping around a good idea.

Police and Fire Federal Credit Union’s money market account options

Money Market Plus

Dismally low rates mean you should feel comfortable passing on this money market account.
APYMinimum Balance to Earn APY
0.25%
$0.01
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Money market accounts have traditionally offered higher interest rates or dividends than your typical savings account in exchange for a higher deposit. While Money Market Plus does not require any set minimum deposit to open the account or earn its APY, this positive is canceled out by the fact that its interest is catastrophically low.

Believe it or not, you can find savings accounts with dramatically higher APY offerings. If you don’t have a ton of money to stash away, go for the higher rates with a savings account at another financial institution rather than buying into the label of “money market” at Police and Fire Federal Credit Union.

Bear in mind that both Money Market Plus and Premium Yield savings are subject to Regulation D, which means you are allowed to make up to six certain debits per month on either account.

Should you choose to open this account, the quickest way to do so is online. However, you can also open it over the phone or in person at your local branch. Be prepared to provide your member number, email address, phone number and Social Security number when you apply.

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Premium Yield Savings

If you can afford the minimum balance required for the second-tier APY, your dividend rates will be close to competitive.
APYMinimum Balance to Earn APY
1.25%
$2,500
1.25%
$50,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: $2,500
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Compared with Money Market Plus, Premium Yield Savings is far more competitive. Despite that fact, it’s important to keep the high minimum deposit requirement in mind. You will have to maintain this amount if you wish to continue receiving interest at all.

However, if you do have a large amount of money you’d like to see grow, the second APY tier of this account is competitive with the market. It’s not the highest rate around, but it’s close to breaking its way in.

While this account falls under Regulation D, Police and Fire Federal Credit Union actually puts even stricter withdrawal rules on Premium Yield Savings than the federal government does. You are only allowed two free withdrawals per month; every subsequent withdrawal will garner a $10 fee.

You will have to establish membership before opening this account. Once you have, you can apply online, in person or over the phone with your member number, Social Security number, phone number and email address.

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How Police and Fire Federal Credit Union’s money market accounts compare

Each of Police and Fire Federal Credit Union’s money market accounts are separate beasts. On the one hand, Money Market Plus shouldn’t even be a candidate when you’re considering accounts to help you build your savings. Its interest rates are simply too low.

On the other, Premium Yield Savings pays a halfway decent APY, though its most competitive rates are only available to people who have $50,000 or more in savings.

Either way, you should shop around for other money market accounts before making any final decisions. You will find better offers with either higher APY offerings, lower minimum balance requirements or both.

Police and Fire Federal Credit Union’s IRA account options

IRA certificate rates

These rates are on par for the course, but you and your retirement account can do better.
TermAPY
3 Months 1.30%
6 Months1.35%
9 Months1.40%
12 Months1.50%
15 Months1.55%
18 Months1.60%
24 Months1.70%
30 Months1.75%
36 Months1.80%
48 Months1.90%
60 Months2.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 3 month certificates will lose all dividends; 6 month certificates will be charged a penalty equal to 90 days’ worth of dividends; certificates with terms of 9 to 24 months will be charged the equivalent of 180 days’ worth of dividends; 30 to 60 month certificates will incur a penalty equal to 360 days’ worth of dividends.

The barrier to entry on Police and Fire Federal Credit Union’s IRA certificates is on the low side, which is a good thing for consumers looking to save for retirement when they don’t have a lot of cash. However, IRA CDs are by their very nature a conservative investment. Police and Fire Federal Credit Union’s rates currently lag behind those of the competition, making this already conservative investment not the best bet.

To open an IRA, you usually have to visit a branch in person. However, Police and Fire Federal Credit Union lets you jump-start the process by filling out some basic information online, and then allowing you to print your forms out so you can send them in via snail mail.

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How Police and Fire Federal Credit Union’s IRA CD rates compare

Just as Police and Fire Federal Credit Union’s traditional certificates don’t carry the best rates, certificates inside of an IRA aren’t the most lucrative place to stash your money. You can find worse offers out there, but there are also plenty of financial institutions offering better. While it’s always important to check rates before making a commitment to a deposit account, the red tape and paperwork behind an IRA makes it even more important to shop around for other IRA CDs and get it right the first time.

IRA Money Markets

This account’s APY almost earns it a spot in the top 10.
APYMinimum Balance to Earn APY
1.25%
$0.01
  • Minimum opening deposit: $0.01
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None

Police and Fire Federal Credit Union’s IRA Money Markets account comes with no fees and no minimum balance requirements. To top things off, the rates aren’t shabby. When we look at APY in isolation, this account is just shy of being in the top ten offers on the market. It is important to remember that a savings or money market account inside of an IRA is just about the most conservative investment you could make. You may want to shop around as the difference in APY could add up over time.

You can open this account in person or by printing out and mailing paperwork, which can be found on Police and Fire Federal Credit Union’s website.

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Overall review of Police and Fire Federal Credit Union’s banking products

When you take all of Police and Fire Federal Credit Union’s products into consideration, they come out quite average, with just slightly disappointing rates. Its certificates give you ho-hum returns, and the same goes for its IRA accounts and Premium Yield Savings.

Almost making up for these deficiencies is Free PFFCU Checking, an account that offers great rates on your checking account with no maintenance fees and some of the smallest overdraft fees we’ve seen.

Ultimately, your decision to bank with Police and Fire Federal Credit Union will depend entirely on your banking needs. Those seeking the best rates on savings will want to look elsewhere, but those seeking a checking account with great returns can safely call Police and Fire Federal Credit Union home.

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