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
Get StartedWe make it easy to save more for what matters
No monthly fees
No minimum opening deposit
No monthly balance requirements
100% US-based customer service available 24/7
FDIC-insured
For more information on FDIC deposit insurance (including information on deposit ownership categories), or for help calculating your coverage, visit EDIE.FDIC.gov or call the FDIC at 1-877-275-3342 (1-877-ASKFDIC).
Maximum savings with minimum hassle
Non-APY comparison conducted by an independent research firm and based on data compiled in June 2025 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® Chase SavingsSM |
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PNC Bank® Standard Savings |
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Bank of America® Advantage Savings |
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Ally Bank® Online Savings Account |
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Citibank® Citi® Savings |
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Wells Fargo® Way2Save® Savings |
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Marcus® Online Savings Account |
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Annual percentage yield Some banks may offer relationship or promotional rates with higher APY rates when all requirements are met. |
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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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. JPMorgan Chase Bank, N.A., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., The PNC Financial Services Group, Inc., U.S. Bank N.A., Ally Financial Inc., and Goldman Sachs & Co. LLC own their own respective trademarks, which may be registered in the United States and/or internationally. 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 | Monthly/Monthly | Monthly/Monthly | Daily/Statement Period | Daily/Monthly | Daily/Monthly | Daily/Quarterly | Daily/Statement Period |
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Monthly fee In some cases, competitors may assess or waive fees if certain conditions are met. |
$0 | $5 | $5 | $8 | $0 | $4.50 | $5 | $5 | $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 | $36 | $0 | $0 | $0 | $35 | $36 | $0 |
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Minimum opening deposit |
$0 | $0 | $0 | $100 | $0 | $0 | $25 | $25 | $0 |
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.
No. Fees. Period.
That means you won't be charged an account fee on our Online Savings Account.
You won't pay fees for the following:
- Monthly maintenance
- Official bank check
- Excessive withdrawals
- 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 Online Savings 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 in Discover deposit accounts are FDIC-insured up to the maximum amount 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 Social Security Number), and we’ll get the ball rolling.
- Make a deposit now to start earning. No minimum opening deposit required.
- Check your email for a confirmation, and you’re on your way to making your financial goals a reality.
Set up Direct Deposit once your account is opened.
Direct Deposit is a secure and convenient way to have all or a portion of your paycheck or other recurring electronic deposits automatically deposited into your bank account. Funds you may choose to Direct Deposit include employment checks, federal payments, government refunds, stimulus checks, retirement account payments, and more.
Need help?
We've got your back.
Our friendly customer service team is available 24/7.
1 (800) 347-7000 Click here to Call us atModern Money Blog
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See why a savings account is an important part of your financial plan.
Several free and easy options can help you fund your new account quickly. Here's a list of ways to get started with your Discover® Online Banking account.
Think savings accounts are one-and-done? Here’s the case for using multiple bank accounts to reach your financial goals.
Save with confidence—you’re FDIC-insured
- FDIC deposit insurance is up to $250,000 per depositor, per insured bank, per deposit ownership category
- May apply to retirement accounts
- Coverage is automatic