Find the latest Discover Bank promotions, offers, and bonuses for January 2022 here.
Their typical amount for their Online Savings are $150 or $200 bonus. Debit Cashback account gets you $360 cash back.
Discover Bank has a range of accounts including Online Savings, Checking, Money Market, CD, and IRA accounts. Member FDIC.
About Discover Bank Promotions Review
Headquartered in Greenwood, Delaware, Discover Bank is an online-only bank with no retail branches. They can offer better rates by operating their banking services online due to little overhead. Their line of deposit accounts include Savings, Checking, Money Market, CD, and IRA CD accounts.
Discover even has IRAs and CDs with terms of up to to 10 years, as well as Money Market account all with competitive APY rates. Be sure to search of the best bank promotions from the internet’s most updated list, then compare rates with all the best listed on our Savings Rates Page and CD Rates Page.
I’ll review current Discover Bank offers below.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover Bank Online Savings | $200 Cash | Review |
| Discover Cashback Debit | $360 Cash Back | Review |
| Discover Bank CD | Up to 1.00% APY | Review |
| Discover Bank Money Market | Up to 0.45% APY | Review |
| Discover Bank IRA CD | Up to 1.00% APY | Review |
Discover Online Savings $150/$200 Bonus + 0.50% APY
Available nationwide, the Discover Online Savings Account that offers to kick-start your savings with a $200 or $150 bonus along with 0.50% APY
- Account Type: Discover Online Savings
- Availability: Online, Nationwide
- Expiration: None
- Opening Deposit: $0
- Credit Card Funding: None
- Direct Deposit Requirement: None
- Monthly Service Fee: None
- Closing Account Fee: None
Discover Online Savings is known for its online convenience and high interest yields. They provide 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. This is simply one of the best Discover Bank promotions!
(See Advertiser for full details)
How To Earn Bonus
To Earn $150 Bonus:
- Must be a new Discover Bank Online Savings Account customer
- Apply for your first Discover Online Savings Account through HustlerMoneyBlog.com by 03/15/2022 using offer code HMB122
- Fund your first savings account with a minimum deposit of $15,000 within 30 days of account open date.
- Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
- As a result, you’ll earn your $150 Discover Savings Bonus!
To Earn $200 Bonus:
- Must be a new Discover Bank Online Savings Account customer
- Apply for your first Discover Online Savings Account through HustlerMoneyBlog.com by 03/15/2022 using offer code HMB122
- Fund your first savings account with a minimum deposit of $25,000 within 30 days of account open date.
- Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
- As a result, you’ll earn your $200 Discover Savings Bonus!
- No minimum opening deposit.
- No minimum balance requirement.
- Interest is compounded daily and credited monthly.
- Now with no fees.
- 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.
$0; There are no fees or minimum balance requirements
Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 3/15/22, 11:59 PM ET. Offer may be modified or withdrawn without notice.
Discover Cashback Debit $360 Yearly
Earn 1% cash back for up to $3,000 each month on debit card purchases with a Discover Cashback Debit account. That’s up to $360 Debit Card Cashback per year. Enjoy many perks such as no monthly fees or balance requirements and access to +60,000 free ATMs.
- Account Type: Discover Cashback Debit
- Availability: Online, Nationwide
- Credit Inquiry: Soft pull, which does not affect your credit
- Monthly Fees: None
(See advertiser website for full details)
This is a great Discover Bank promotion for cash back with everyday spending. I use the free checking account myself which allows me to earn up to $360 a year in cash back bonuses.
How To Earn $360 Yearly Cash Back
- You must apply for Discover Cashback Debit Account online.
- Earn 1% cash back on up to $3,000 in debit card purchases each month.
- You can redeem your cashback bonus for any amount.
- Access to over 60,000 free ATMs in the U.S. (uses the Allpoint network; the largest ATM network big online banks use)
- Earn 1% cash back on up to $3,000 in debit card purchases each month
- Free Online Bill Pay (standard with most banks)
- Free Check Reorder (good perk; most banks charge for re-orders)
- No Cost for Replacement Debit Card (standard with most banks)
- Free Official Bank Check (standard with most banks)
- No Cost for Expedited Delivery for your Replacement Debit Card (good perk; some banks charge for this)
- Free Outbound ACH Transfers (standard with most banks)
- Free Incoming Wire (good perk; most traditional banks charge for this)
- No monthly fees or monthly balance requirements (standard with online banks; traditional banks usually have monthly maintenance fees)
- ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards.
- Purchases made using third-party payment accounts (services such as Venmo® and PayPal™, who also provide P2P payments) may not be eligible for cash back rewards.
- Account must be open at the time the rewards are applied. Offer may be modified or withdrawn without notice.
Discover Certificate of Deposit
Discover Bank offers Certificates of Deposit (CD) accounts with some of the highest rates. Depends on the length of the term, you can earn up to 1.00% APY.
In order to open a CD, you need a minimum deposit is $2,500 and the interest rates have been consistently competitive with terms as short as 3 months to 120 months long.
| CD Term | APY Rate |
|---|---|
| 3-Month Term | 0.20% APY |
| 6-Month Term | 0.25% APY |
| 9-Month Term | 0.30% APY |
| 12-Month Term | 0.55% APY |
| 18-Month Term | 0.60% APY |
| 24-Month Term | 0.65% APY |
| 30-Month Term | 0.70% APY |
| 3-Year Term | 0.75% APY |
| 4-Year Term | 0.80% APY |
| 5-Year Term | 1.00% APY |
| 7-Year Term | 1.00% APY |
| 10-Year Term | 1.00% APY |
Interest rate from traditional Savings account can change the next day, however CDs rate can be guaranteed for the length of the term for risk-free income.
CDs features include high interest rates, 24/7 Live Customer Service, Online Account Management, and FDIC Deposit Insurance up to $250,000 per individual account holder (FDIC certificate 5649).
(Visit Discover for more details)
Discover IRA CD
If you are thinking about retirement, consider getting a Discover Bank IRA CD account to earn a guaranteed rate to offset your risk for the future. Discover’s IRA CD is earns a competitive rate. This is higher than many savings account I have seen and could be quite a good investment in the long run.
With Discover Bank, you can choose an IRA term as low as 3 months or as long as 10 years. They also provide 24/7 phone service so you can always call them if you have any further questions!
(Visit Discover for more details)
| IRA CD Term | APY Rate |
|---|---|
| 3-Month Term | 0.20% APY |
| 6-Month Term | 0.25% APY |
| 9-Month Term | 0.30% APY |
| 12-Month Term | 0.55% APY |
| 18-Month Term | 0.60% APY |
| 24-Month Term | 0.65% APY |
| 30-Month Term | 0.70% APY |
| 3-Year Term | 0.75% APY |
| 4-Year Term | 0.80% APY |
| 5-Year Term | 1.00% APY |
| 7-Year Term | 1.00% APY |
| 10-Year Term | 1.00% APY |
Discover Money Market
Discover Bank’s Money Market account offers 0.40% APY rate on balances up to $99,999. Those with a balance $100K and higher, you’ll earn 0.45% APY with easy cash access via ATM, debit, or check. There is no hidden fees and get access to over 60,000 free ATMs.
Discover Bank provides great APY rates so you can earn more money with many free features transfer money, withdraw money, deposit money, view your daily activity, or pay bills in just a few steps online or on your mobile phone.
(Visit Discover for more details)
Should You Open a Discover Bank Account?
We consider Discover Bank to be the top online bank in the country. These Discover bank promotions have a nice deposit bonus along with some of the highest interest rates on savings products.
- Two main features are no fees including minimum or service fees for Discover checking accounts and Discover savings accounts.
- Super easy to access your money through over 60,000 no-fee ATMs across the country.
Discover Monthly Fees
Discover recently eliminated many of their fees– pretty much no fees at all.
Cashback Checking:
- No monthly service fee
- No ATM fee at over 60,000 ATMs in the US
- Zero fee for online bill pay
- No fee for check order
- No fee for replacement debit card
- Zero fee for official bank check
- No fee for outbound ACH transfers
- No fee for deposited item returned
- Zero fee for incoming wire
- No fee for stop payment
- No insufficient funds fee
Online Savings:
- No fee monthly service fee
- No fee for official bank check & expedited delivery
- Zero fee for deposited item returned
- No fee for incoming wire
- No fee for each excessive withdrawal
- Zero fee for stop payment order
- No fee insufficient funds fee
Money Market:
- No fee for minimum balance fee
- No fee for ATM fee at over 60,000 ATMs in the US
- Zero fee for check order
- No fee for replacement debit card
- No fee for deposited item returned
- Zero fee for incoming wire
- No fee for each excessive withdrawal
- No fee for stop payment
- Zero fee for insufficient funds fee
Certificate of Deposits:
- Zero monthly service fee
- No fee for official bank check
- No fee for incoming wire
Bottom Line
Definitely sign up for an online checking or savings account with no monthly fees or minimum balance requirements. Discover also has great CD accounts with outstanding % APY rates.
The Discover Online Savings and Debit Cashback checking are both recommended. A great way to earn some extra money on your cash balances for opening your first online savings account!
*Stay up to date by bookmarking this page for Discover bank promotions, bonuses, and offers!
