Discover Bank’s CDs have some of the highest interest rates of any bank in the industry and consistently exceed the national average. Another great aspect of their CDs is their withdrawal fees. For withdrawals on a one to five year CD the penalty is only six month’s interest.

On the flip side, there are many fees that one has to deal with when owning a CD from Discover Bank. To simply withdrawal any interest received on a CD by an official bank check will set you back $5, with other fees as high $40. The initial deposit for a Discover Bank CD is unusually high as well, at $2,500. If you are willing to trade off a high initial deposit with some of the highest interest rates in the industry, Discover Bank CDs are a great option to consider.