Online Savings Account

Turn your savings into something.

Open an Account
X.XX% APY Opens modal dialog

Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 04/16/2019. Applies to personal accounts only. Fees could reduce earnings on the account. APY may change before or after the account is opened. No minimum deposit to open.

Grow your money with a savings account interest rate over 5x the National Savings Average. Opens modal dialog

The 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 balances over $500 as reported by Informa Research Services, Inc. as of XX/XX/XXXX. Interest rates and APYs are subject to change at any time. Although the information provided by Informa Research Services has been obtained from the various institutions, accuracy cannot be guaranteed.

We’re different where it counts. Opens modal dialog

Comparison conducted by an independent research firm and based on data compiled in February 2019 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.

Maximum savings with minimum hassle. That’s what our Online Savings Account is all about.

Discover
Online Savings Account
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Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of XX/XX/XXXX. Applies to personal accounts only. Fees could reduce earnings on the account. APY may change before or after the account is opened. No minimum deposit to open.

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In some cases, competitors assess or waive fees if certain conditions are met.

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In each calendar year (January 1 through December 31), the first eligible fee charged to each eligible Checking account or Online Savings Account will be automatically waived and credited to your account. Eligible fees include: Insufficient Funds and Stop Payment. Wire transfer fees are not eligible and will not be waived. In some cases, competitors assess or waive fees if certain criteria are met. Fees incurred prior to May 7, 2018 are not eligible for reimbursement.

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Assumes principal and interest remain on deposit and interest rate and APY do not change for one year. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances.

ADD BANK Opens a dialog box
See how much you can earn annually on Opens modal dialog

Assumes principal and interest remain on deposit and interest rate and APY do not change for one year. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances.

Please enter an amount between $1 and $5,000,000.

Enter your savings amount.

Save yourself the hassle.

Our high-yield Online Savings Account comes with no hidden fees and First Fee Forgiveness. Should you need it, your first fee is on us. Opens modal dialog

In each calendar year (January 1 through December 31), the first eligible fee charged to each eligible account (which includes Cashback Debit, Money Market, Premium and Online Savings Accounts) will be automatically waived and credited to your account. Eligible fees for Premium and Online Savings include: Excessive Withdrawal, Insufficient Funds and Stop payment fees. Wire transfer fees are not eligible and will not be waived.

$0
  • Monthly maintenance
  • Official bank check
  • Expedited delivery for official bank checks
  • Incoming wire transfers Opens modal dialog

    Wire transfers received before 4pm Eastern Time are posted to your Account on the Business Day we receive them. Wire transfers received after 4pm Eastern Time are posted to your Account on the next Business Day, with an effective date of the Business Day the funds were received. In some circumstances, a wire transfer may require additional processing time and will be posted to your Account upon completion of processing, with an effective date of the Business Day the funds were received.

  • Deposited item returned (per item)
$15
  • Excessive withdrawal (per item) Opens modal dialog

    Limited Transactions

    • Federal law limits certain types of withdrawals and transfers from savings accounts to a combined total of 6 per calendar month per account. An Excessive Withdrawal Fee will apply for each additional limited transaction.
    • There are no limits on official checks mailed to you. To get an account with an unlimited number of transactions, consider opening a Discover Cashback Debit Account.
    • If you go over these limitations on more than an occasional basis, your account may be closed. See Section 11 of the Deposit Account Agreement for more details.
  • Stop payment order for 6 months
$30
  • Insufficient funds (1 fee max per day)
  • Wire transfer (for outgoing wires) Opens modal dialog

    Requests received and fully verified at or before 3pm Eastern Time on a Business Day will be processed as of that Business Day. Wire transfer requests received and fully verified after 3pm Eastern Time on a Business Day, or at any time on a day that is not a Business Day, will not be processed until the next Business Day.

Get Started

Add a little fuel to your future.

See how fast % APY Opens modal dialog

Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of XX/XX/XXXX. Applies to personal accounts only. Fees could reduce earnings on the account. 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. Opens modal dialog

Assumes principal and interest remain on deposit and interest rate and APY do not change for one year. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances. 

$
Please enter an amount between $2,500 and $5,000,000.
Yearsyrs
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‘Total savings’ equals initial deposit plus interest earned over duration of time chosen.

WITH OTHER BANKS
Customers at Chase would earn only in interest.
Compare other banks
Other banks

Interest you’ll earn with us:

With them:
Chase
Bank of America
U.S. Bank
Citibank
Wells Fargo
Fifth Third Bank
PNC Bank
Capital One
Ally Bank

You’re on the go. So are we.

Your Online Savings Account can be with you at all times.

Easily deposit a check into your account by snapping a photo of it with your smartphone or tablet Opens modal dialog

For more information regarding the Discover Bank Mobile Check Deposit Service, click here.

It’s easy to transfer money from one account to another. Opens modal dialog

Transfers between Discover accounts are instant. To or from other banks and Discover, please allow up to 4-5 business days.

  • Federal law limits certain types of withdrawals and transfers from savings accounts to a combined total of 6 per calendar month per account. An Excessive Withdrawal Fee will apply for each additional limited transaction.
  • There are no limits on official checks mailed to you. To get an account with an unlimited number of transactions, consider opening a Discover Cashback Debit Account.
  • If you go over these limitations on more than an occasional basis, your account may be closed. See Section 11 of the Deposit Account Agreement for more details.
Check on your savings account easily. Anytime. You can even skip the passcode and log in with touch or face ID. Opens modal dialog

Face ID is currently available to iOS users.

Enable Quick View to check your savings account balance without logging in each time.
We score out of 5 stars! Opens modal dialog

Star rating is representative of the Apple® App Store rating for the Discover mobile app and is updated daily.

Ready to start saving?

Say the word and we’ll get our savings account interest rate working for you.