Interest rates attached on a savings account varies per banking establishment. With Discover’s Online Savings account, you’ll earn a competitive APY Interest Rate which is definitely at the top of the totem pole of savings account out there. Keep in mind that savings accounts are more suitable towards those looking for a short-term period to hold your money. Also, the money is readily available for withdrawal at the expense of a interest rate that is low, therefore, purchasing power could be at a lose due to inflation aspects.
Editor’s Note: Be sure to also check out our full detailed list of Discover Bank Promotions!
 Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code LOP325 by 9/11/2025 • Earn high interest rate of 3.70% 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 To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code LOP325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. |
Opening a Discover Online Savings Account
Opening a Discover Bank Savings account is definitely easy and could be done online if you wish (it just requires some personal information including your name, address, date of birth, and social security number.) :
- Step 1. Enter your personal information.
- You can choose from a individual or joint account.
- Step 2. Fund the savings account (no minimum balance required).
- you will be able to fund your new Discover bank account with an ACH transfer from another checking or by wire transfer.
- Step 3. Verify any necessary information and provide your electronic signature. (could include your credit report including old loans, or addresses, etc.)
Discover Bank Online Savings Features
- 24/7 Live Customer Support: You get live customer support at a click of a button around the clock. They pride themselves on high customer service and the quality of help you’ll get.
- $250,000 FDIC Insured: Your funds are insured by the Federal government up to $250,000.
- No Minimum Balance Requirement & No Monthly Fees: This is by far the biggest benefit with no fees or minimum.
- Auto Savers Plan: Discover will help you save money by setting up automatic transfers from your linked Checking account to go into your Discover Online Savings Account each month.
- Discover’s Mobile Banking App: Available for Android and iPhone, account holders will have access to all your main features such as viewing your account balance and recent activity, and making transfers.
Conclusion
If you’re contemplating trying out the Discover Online Savings, it’s definitely worth a try. With a beautiful APY Rate, you can’t really go wrong. Opening a Discover Bank Savings account is definitely easy and could be done online if you wish (it just requires some personal information including your name, address, date of birth, and social security number.) Keep in mind that you have 6 transfers per statement cycle; If you exceed 6 transfers, you will be charged a fee. Be sure to check out our list of Best Credit Card Promotions here first at, BankCheckingSavings! Also, be sure to also check out our full detailed list of Discover Bank Promotions!
