Click here to open an account online. Additionally, you can call our U.S.-based Banking Specialists 24/7 at 1-800-347-7000 to open an account over the phone.
Online Savings Account
Earn interest over 5x the National Savings AverageThe Annual Percentage Yield (APY) for the Online Savings Account as of XX/XX/XXXX is more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of XX/XX/XXXX. National average is based on information regarding the top 50 banks (by deposit size) and may not include information from variations in regional pricing at such banks or information from products that may not be widely available to their customers. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. APYs are subject to change at any time.
Open an AccountMaximum savings with minimum hassle
Non-APY comparison conducted by an independent research firm and based on data compiled in November 2022 from company websites, customer service agents, and consumer savings account offers. In some cases, competitors assess and/or waive fees if certain criteria are met.
See how our high-yield Online Savings Account rate stacks up.
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Discover Online Savings Account |
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Chase Regular Savings |
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Citibank Citi Savings - Access Account |
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Bank of America Advantage Savings |
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Wells Fargo Way2Save Savings |
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PNC Bank Standard Savings |
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U.S. Bank Standard Savings |
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Capital One 360 Performance Savings |
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Ally Bank Online Savings Account |
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Marcus Online Savings Account |
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Annual percentage yield |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
X.XX%
Competitor APY comparison information obtained from Curinos, as of XX/XX/XXXX, using savings account APYs. Competitor APYs are subject to change at any time. The non-Discover Bank service marks for Chase, Citibank, Bank of America, Wells Fargo, PNC Bank, U.S. Bank, Capital One, Ally Bank, and Marcus are owned by each respective entity. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. |
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Interest compounded/paid |
Daily/Monthly | Monthly/Monthly | Daily/Monthly | Monthly/Monthly | Daily/Monthly | Monthly/Monthly | Daily/Quarterly | Monthly/Monthly | Daily/Statement Period | Daily/Monthly |
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Monthly fee In some cases, competitors may assess or waive fees if certain conditions are met. |
$0 | $5 | $4.50 | $8 | $5 | $5 | $4 | $0 | $0 | $0 |
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Insufficient funds fee Some competitors have minimum thresholds before insufficient funds fees are applied and may have a cap on the number of insufficient funds fees charged in a timeframe. |
$0 | $34 | $34 | $0 | $35 | $36 | $36 | N/A | $0 | $0 |
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Minimum opening deposit |
$0 | $0 | $0 | $100 | $25 | $0 | $25 | $0 | $0 | $0 |
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Your interest earnings This calculator and the values shown are intended for illustrative and informational purposes only and may not apply to your individual circumstances. This calculator uses an Annual Percentage Yield (APY) that is rounded to the nearest one-hundredth of one percentage point, e.g., .01%. However, actual interest earned calculations use an APY that is rounded to the nearest one-thousandth of one percentage point, e.g., .011%. As a result, the estimated interest earned value shown here may vary from the actual interest earned on your account. Calculation assumes principal and interest remain on deposit and interest rate and APY do not change. |
X.XX | X.XX | X.XX | X.XX | X.XX | X.XX | X.XX | X.XX | X.XX | X.XX |
See how much you can earn annually on
Enter your savings amount.
This calculator and the values shown are intended for illustrative and informational purposes only and may not apply to your individual circumstances. This calculator uses an Annual Percentage Yield (APY) that is rounded to the nearest one-hundredth of one percentage point, e.g., .01%. However, actual interest earned calculations use an APY that is rounded to the nearest one-thousandth of one percentage point, e.g., .011%. As a result, the estimated interest earned value shown here may vary from the actual interest earned on your account. Calculation assumes principal and interest remain on deposit and interest rate and APY do not change.
You'll never pay fees for the following:
- Monthly maintenance
- Official bank check
-
Excessive withdrawals
The number of certain types of withdrawals and transfers from savings and money market accounts is limited to a combined total of 6 per calendar month per account. See the Deposit Account Agreement for details.
- Expedited delivery for official bank checks
- Deposited item returned
- Stop payment order
- Insufficient funds
- Account closure
Add a little fuel to your future
See how fast % APY
Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of XX/XX/XXXX. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.
adds up with our high-yield Online Savings Account calculator.
This calculator and the values shown are intended for illustrative and informational purposes only and may not apply to your individual circumstances. This calculator uses an Annual Percentage Yield (APY) that is rounded to the nearest one-hundredth of one percentage point, e.g., .01%. However, actual interest earned calculations use an APY that is rounded to the nearest one-thousandth of one percentage point, e.g., .011%. As a result, the estimated interest earned value shown here may vary from the actual interest earned on your account. Calculation assumes principal and interest remain on deposit and interest rate and APY do not change.
Savings FAQ
View Savings FAQ
What is the minimum deposit amount to open my account?
There is no minimum deposit to open a Discover Online Savings account.
How is interest on my Online Savings Account calculated?
Interest is compounded daily and credited to your account monthly.
Is the Online Savings Account FDIC-insured?
Funds on deposit at Discover Bank are FDIC-insured up to the maximum allowed by law. For more information, visit our FDIC information page.
Does my savings account provide the option to enroll in overdraft protection?
Yes, your savings account is eligible for enrollment in our overdraft protection service. Click here for more information about overdraft protection.
Opening a high-yield Online Savings Account couldn’t be simpler
- Give us a few basics (like address and SSN), and we’ll get the ball rolling.
- Make a deposit now or come back and do it later. Whatever works for you.
- Check your email for a confirmation, and you’re on your way to making your financial goals a reality.
