On this page13 sections
You can't open a Discover CD anymore. Discover Bank merged into Capital One on May 18, 2025, Discover stopped accepting new deposit applications in late January 2026, and discover.com's CD page now redirects to Capital One's 360 CD page. If you already hold a Discover CD, it is safe and FDIC insured, and it keeps its rate and term when it moves to Capital One, but the early withdrawal penalty changes and it renews at Capital One's rate. If you're shopping for a CD today, compare Capital One 360 CDs (4.00% APY for 1 year in Bankrate's October 2026 snapshot) with banks that paid more, such as Marcus and Synchrony.
- Status
- Closed to new customers. Discover stopped accepting new deposit applications, including CDs, in late January 20264
- Discover CD page
- discover.com/online-banking/cd now redirects to Capital One’s 360 CD page (checked October 12, 2026)13
- Merger
- Discover Bank merged into Capital One, National Association on May 18, 2025, per FDIC records6
- Existing CDs
- Becoming Capital One 360 CDs with the same fixed rate, same term and same account number1
- Early withdrawal penalty after conversion
- 3 months of interest on terms of 12 months or less; 6 months of interest on longer terms3
- Grace period at maturity
- 10 calendar days to withdraw or change the CD without penalty3
- FDIC insurance
- Capital One, N.A., Member FDIC. Discover and Capital One deposits are insured together since November 18, 2025, with a separate-insurance carve out for some CDs until maturity2
- CFPB complaints
- 75 about Discover Bank CDs since October 12, 2023, all with a timely response7
Pros
- Existing Discover CDs keep their fixed rate and term through maturity after the move to Capital One
- FDIC insured through Capital One, N.A.
- No monthly fees or minimum balance on the 360 CDs they become
- Grace period at maturity grows to 10 calendar days
Cons
- You can't open a new Discover CD; applications closed in late January 2026
- The early withdrawal penalty changes to Capital One's schedule after conversion
- Renewals happen at Capital One's rate, which trailed Marcus and Synchrony on most terms in October 2026
- Your Discover and Capital One deposits now share one FDIC limit once any CD carve out ends
Best for: People who already hold a Discover CD and want to know what changes when it moves to Capital One.
Skip it if: You are shopping for a new CD, since Discover no longer accepts applications.
Discover vs. competitors
| Company | 1-year APY | 5-year APY | Minimum to open | Open to new customers |
|---|---|---|---|---|
| Discover CD | Not published | Not published | Not applicable | No, closed since January 2026 |
| Capital One 360 CD | 4.00% | 3.60% | $0 | Yes |
| Marcus by Goldman Sachs CD | 4.40% | 4.40% | $500 | Yes |
| Synchrony Bank CD | 4.20% | 4.50% | $0 | Yes |
Discover pricing at a glance
Capital One 360 CD rates, where discover.com now sends CD shoppers, Bankrate’s snapshot (APYs updated October 5 to 11, 2026); each bank’s own page loads the live rate5
| Term | APY | Minimum to open |
|---|---|---|
| 6 months | 3.30% | $0 |
| 9 months | 3.75% | $0 |
| 11 months | 4.40% | $0 |
| 1 year | 4.00% | $0 |
| 18 months | 3.60% | $0 |
| 2 years | 3.50% | $0 |
| 30 months | 3.50% | $0 |
| 3 years | 3.50% | $0 |
| 4 years | 3.50% | $0 |
| 5 years | 3.60% | $0 |
Discover no longer lists its own CD rates. A Discover CD that matures renews at the Capital One rate for the same term, or the next shorter term if that term isn’t offered. Rates can vary by region and change often; confirm on capitalone.com before you open or renew.
Discover, step by step
Hold until you hear from Capital One
Capital One says it will email or mail you before your CD moves. Until then, keep using discover.com, the Discover app and 1-800-DISCOVER.
Conversion
Your CD becomes a Capital One 360 CD with the same fixed rate, term and account number. After that, you manage it only through Capital One's website and app.
Read the change in terms notice
The notice lists your new early withdrawal penalty and the longer 10 day grace period. Keep it with your records.
30 day maturity notice
Capital One sends renewal options at least 30 days before maturity. If you do nothing, the CD renews at the current Capital One rate for the same term, or the next shorter term.
Decide in the grace period
You have 10 calendar days after maturity to withdraw or change terms without a penalty, which is the time to move the money if another bank pays more.
Can you still open a Discover CD?
No. Discover stopped accepting new applications for deposit accounts, including CDs, in late January 2026, after Discover Bank merged into Capital One, N.A. on May 18, 2025. If you go to Discover’s CD page today, you land on Capital One’s 360 CD page instead.
Rate lists you still see online for Discover CDs are old and can’t be opened.
What happens to your existing Discover CD
Capital One says Discover CDs are becoming Capital One 360 CDs. When yours moves:
- You keep the same fixed rate until the current term ends.
- You keep the same term and maturity date.
- You keep the same account number.
- Interest keeps paying out the same way it did at Discover.
- After the move, you manage the CD only on Capital One’s site and app, not discover.com.
Two things do change: the grace period at maturity grows to 10 days, and the early withdrawal penalty switches to Capital One’s schedule. Not every Discover account moves on the same date, so watch for the email or letter with your change in terms notice.
a Discover CD safety and legitimacy
Yes. Your CD is a deposit at Capital One, N.A., which is FDIC insured up to $250,000 per depositor, per ownership category. Since November 18, 2025, Discover and Capital One deposits are insured together, so if you hold money at both, add the balances when you check the limit.
There is one carve out for CDs: a Discover or Capital One CD that matures after November 18, 2025 stays separately insured until that maturity date, according to Capital One’s merger FAQ. After it renews, it counts toward the shared limit.
Discover CD rates now
Discover doesn’t publish CD rates anymore. When a Discover CD matures, it renews at the Capital One rate for the same term. If Capital One doesn’t offer that term, it renews into the next shorter term, never a longer one.
In Bankrate’s early October 2026 snapshot, Capital One paid 4.00% APY on a 1 year 360 CD and 3.60% on 5 years in early October 2026, with a special 11 month term at 4.40%. Marcus paid 4.40% on most terms and Synchrony paid 4.20% for 1 year and 4.50% for 5 years. Use the 10 day grace period to move the money if a renewal rate is lower than what you can get elsewhere.
What customers say about Discover
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- No monthly fees and no minimum deposit on Discover CDs while they were offered
- A wide range of terms, from 3 months to 10 years, while Discover still took deposits
- Fixed rates that carry over unchanged when the CD moves to Capital One
Common complaints
- Hard to reach a helpful agent and long hold times, mostly from credit card customers on Trustpilot
- Account management problems, the top issue in CFPB complaints about Discover Bank CDs
- Trouble closing accounts and moving money out, the second most common CD complaint issue
- Confusion during the move to Capital One, such as new logins and separate account timelines
Early withdrawal penalty and grace period
Capital One’s disclosure for former Discover CDs sets the penalty at:
- Terms of 12 months or less: 3 months of interest.
- Terms over 12 months: 6 months of interest.
The penalty applies no matter when you cash out before maturity. You can’t add money during the term. After maturity you have 10 calendar days to withdraw or change the term with no penalty. Your exact terms are in the change in terms notice Capital One sends before your CD moves.
Discover CD complaints
The CFPB database lists 75 complaints about Discover Bank CDs from October 12, 2023 to October 2026. Most were about managing an account (46) or closing one (23). Discover responded on time to all of them; 17 were closed with money back to the customer.
Trustpilot rates Discover 1.3 out of 5 across 356 reviews, but those are mostly about credit cards and phone support. BBB now points to Capital One’s profile, rated A+ with 16,929 complaints in three years across all of Capital One’s products. If you have a problem with a converted CD, call Capital One at 800-655-2265, and file with the CFPB if it isn’t fixed.
Alternatives to Discover
- Capital One 360 CD The closest replacement if you want to stay with the bank that now owns Discover, with no minimum and a special 11 month term at 4.40% APY in October 2026. Read review
- Marcus by Goldman Sachs CDs Paid 4.40% APY on most terms from 1 to 6 years in October 2026, if you can meet the $500 minimum. Read review
- Synchrony Bank CDs Paid more than Capital One on longer terms (4.50% APY for 5 years) with no minimum deposit. Read review
- Treasury bills through TreasuryDirect A free, government backed option for 4 to 52 weeks, with interest exempt from state and local income tax.
Discover reviews
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Frequently asked questions
Can I still open a Discover CD?
No. Discover stopped accepting new deposit applications, including CDs, in late January 2026. Its CD page now redirects to Capital One 360 CDs.
What happened to Discover Bank?
Capital One bought Discover, and Discover Bank merged into Capital One, National Association on May 18, 2025. Discover accounts are moving to Capital One in stages.
What happens to my Discover CD?
It becomes a Capital One 360 CD with the same fixed rate, term and account number. Capital One will contact you by email or letter before it moves, and until then you keep using Discover's site and app.
Will my Discover CD rate change?
Not during the current term. At maturity it renews at the rate Capital One offers then for the same term, or the next shorter term if yours isn't offered.
What is the early withdrawal penalty on a Discover CD now?
After conversion, Capital One's disclosure sets it at 3 months of interest for terms of 12 months or less and 6 months of interest for longer terms. Check your change in terms notice for your exact penalty.
How long is the grace period when my CD matures?
10 calendar days after the maturity date. During that window you can withdraw or change the term without a penalty.
Is my Discover CD still FDIC insured?
Yes, through Capital One, N.A. Discover and Capital One deposits are insured together since November 18, 2025, but a CD that matures after that date stays separately insured until its maturity.
What are Capital One's CD rates?
In Bankrate's early October 2026 snapshot, Capital One paid 4.00% APY for 1 year, 4.40% for a special 11 month term and 3.60% for 5 years, with no minimum deposit. Rates change often, so confirm on capitalone.com.
Who do I call about my Discover CD?
For accounts still at Discover, call 1-800-DISCOVER (1-800-347-2683). For accounts already moved, Capital One lists 800-655-2265, 7 days a week, 8 a.m. to 11 p.m. ET.
Can I still log in at discover.com?
Yes, for accounts that haven't moved yet. Once your CD is set up with Capital One, you can only see and manage it on Capital One's website and app.
Sources (14)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Capital One: Your Discover CD account is becoming a Capital One CD account (accessed October 12, 2026)
- Capital One: Discover FAQs (merger, FDIC insurance, contacts) (accessed October 12, 2026)
- Capital One: 360 CD account disclosures for Discover CDs (accessed October 12, 2026)
- Doctor of Credit: Discover savings accounts to become Capital One savings accounts (accessed October 12, 2026)
- Bankrate: Capital One CD rates (accessed October 12, 2026)
- FDIC BankFind: Discover Bank (cert 5649) history (accessed October 12, 2026)
- CFPB Consumer Complaint Database: Discover Bank, checking or savings account (accessed October 12, 2026)
- BBB: Capital One Financial Corporation profile (accessed October 12, 2026)
- Trustpilot: Discover reviews (accessed October 12, 2026)
- Bankrate: Synchrony Bank CD rates (accessed October 12, 2026)
- Bankrate: Marcus by Goldman Sachs CD rates (accessed October 12, 2026)
- TreasuryDirect: Treasury bills (accessed October 12, 2026)
- Discover: CD page (redirects to Capital One 360 CDs) (accessed October 12, 2026)
- Capital One: 360 CDs (rates load live) (accessed October 13, 2026)
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