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Discover Online Savings Account

About Discover High-Yield Savings

The Discover Online Savings Account from Discover is one of the top-rated High-Yield Savings options evaluated on MoneyCompared, earning an overall product score of 9.6/10. High-yield online savings account with zero monthly fees, zero insufficient funds fees, and periodic $150-$200 new depositor cash bonuses.

Key highlights include 4.00% APY, a fee structure of $0 Monthly Fee, $0 Official Check Fee, and $150 - $200 New Depositor Bonus (with $15k-$25k deposit). Accounts are backed by FDIC Insured up to $250,000 and supported by Discover's 4.9 / 5.0-rated digital banking experience.

Features

Annual Fee	$0 Monthly Fee, $0 Official Check Fee
Regular APR / Rate	4.00% APY
Intro Offer / Welcome Bonus	$150 - $200 New Depositor Bonus (with $15k-$25k deposit)
Savings APY / AER	4.00% APY + Instant Transfers to Discover Cashback Debit
Minimum Deposit	$0 Minimum Deposit to Open
Foreign Transaction Fee	N/A (Savings Account)
Deposit Insurance	FDIC Insured up to $250,000
Mobile App Rating	4.9 / 5.0
Overall Rating	9.6 / 10

About Product

Annual / Monthly Fee: $0 Monthly Fee, $0 Official Check Fee
APR / APY Rate: 4.00% APY
Intro Offer / Bonus: $150 - $200 New Depositor Bonus (with $15k-$25k deposit)
Key Benefits: 4.00% APY + Instant Transfers to Discover Cashback Debit
Minimum Requirement: $0 Minimum Deposit to Open
Foreign Transaction Fee: N/A (Savings Account)
Protection: FDIC Insured up to $250,000

Pros

Rate / APR / APY: 4.00% APY
Fee Structure: $0 Monthly Fee, $0 Official Check Fee
Welcome Offer / Benefit: $150 - $200 New Depositor Bonus (with $15k-$25k deposit)
Rewards & Highlights: 4.00% APY + Instant Transfers to Discover Cashback Debit

Cons