Interested in opening an interest bearing account such as the Discover® Online Savings Account? Available nationwide, the Discover Bank Savings Account is currently offering 3.90% APY.

Update 11/21/24: The rate has decreased to 3.90% APY (from 4.00%).

Discover Bank is FDIC-insured AND there are no monthly fees, no minimum balance requirements, and you won’t be charged for simply having an account – there really is no comparison when it comes to investing your savings with Discover.

Discover Bank Online Savings Account Summary

Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 3.90% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details Apply Now at Discover

Discover Bank Online Savings Information

• Account Type: Discover Bank Online Savings Account
• Availability: Nationwide
• Credit Funding: None
• Opening Deposit Requirement: None
• Monthly Service Fee: None
• Early Termination Fees: None

(Visit Discover for more details)

Account Features

• 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.

Author’s Verdict

This Discover Bank Online Savings Account offers an outstanding return rate compared to your brick and mortar and several online institutions.

Definitely the smarter route to take if you’re stuck between opening a savings account at your local bank or an online bank.

For more, view our list of the latest Discover Bank offers or compare to other bank promotions.