Starting today, Discover Bank’s Online Savings Account rate has now increased to 0.85% APY, one of the highest rates online! You’ll earn over 5X the National Savings Average with low $500 minimum opening deposit, no minimum balance or monthly maintenance fees!
Discover Bank Online Savings Account Review
A good way to earn some extra money on your cash balances is by opening an online savings account. Discover Bank is FDIC-insured and is known for its online convenience and high interest yields while providing a safe and secure way to save money each month. As with any online bank, Discover is able to avoid overhead costs of a physical branch, thus saving money and offering you a higher savings rate. When you apply and fund your online savings account, you can start earning 5x more than the national average with a 0.85% APY.
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Discover Bank 0.85% APY Rate Information:
- Sign up Offer
- Account Type: Online Savings Account
- Availability: Nationwide
- Expiration Date: None
- Hard Inquiry: No, soft pull.
- Opening Deposit Credit Card Funding: Unknown
- Direct Deposit Requirement: No
- Monthly Fee: None
- Additional Requirements: None
- Closing Account Fee: None
Discover Bank Online Savings Account Features:
- Low opening deposit. Minimum $500 initial deposit requirement.
- No minimum balance requirement.
- No monthly fees.
- Interest on Discover Online Savings Accounts is compounded daily and credited monthly.
- Auto Savers plan which automatically transfers money from your personal checking account into your savings account each month.
- FDIC insurance up to $250,000.
- Manage your account online or with the Discover mobile banking apps. Features include checking your savings account balance, viewing recent activity, viewing earned interest, and the ability to make and set up transfers, and works on the Android, iPhone and Blackberry devices.
You can open an account anytime online by completing their 3-step online form. Once your account is opened, you can fund your account electronically from any checking or savings account with a personal check or wire transfer. After verification, submit your information and you’re ready to start earning great rates! You can access your money when you need it- online money transfers are fast and free, transfer money to or from any linked bank account, and make up to 6 outgoing transfers per statement cycle. Sign-up for the Discover Bank Online Savings Account today! See our full list of Bank Rates for all the best online banks!
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