Get $25 Cash Bonus When You Open A Discover Bank CD

Discover Bank recently updated its 12-month no-penalty CD (penalty-free only if you lose your job) offer. Aside from a very competitive fixed rate, it now comes with a $25 bonus.

Here are more details on Discover Bank’s promotional deal:

• The rate for this CD is currently at 2.00% APY;

• The minimum deposit amount is $2,500 of new money or funds that have not been sourced from existing Discover Bank accounts;

• The $25 cash bonus will be credited to your account within 90 days after the new funds are deposited;

• You may use the promo code D12079 to avail of this bonus;

• Promo is valid until December 31, 2009.

To learn more please click here.

When it comes down to the actual figures, here’s how much this cash credit comes down to. At the current rate of 2.00% and with a deposit amount of $2,500, a $25 cash bonus would translate to getting a ~3.00% interest rate. If you put in $25,000 however, adding that $25 credit would be equivalent to getting a ~2.05% interest rate on your investment.

You may also well remember that the “no-penalty benefit” of Discover Bank’s 12-month CD (regular 12-month CDs and 12-month IRA CDs opened or renewed between July 1, 2009 and December 1, 2009) is applicable only when the depositor decides to pre-terminate his Certificate of Deposit in the event of job loss. Still, even treated as a regular CD, it’s still one of the best deals around especially with the $25 bonus thrown in.

About the banks

 

Discover Bank

Since 1911, Discover Bank has been providing superior banking products with service designed to help customers achieve their financial goals.

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