Man and woman relaxing outside of their jeep near a lake after recently opening a high yield online savings account.

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.

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X.XX% APY

Advertised Online Savings Account Annual Percentage Yield (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.

Grow your money with our high-yield Online Savings Account. No minimum deposit required.

Maximum 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.

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

Annual percentage yield

X.XX%

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.

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.

Interest compounded/paid

Daily/Monthly Monthly/Monthly Daily/Monthly Monthly/Monthly Daily/Monthly Monthly/Monthly Daily/Quarterly Monthly/Monthly Daily/Statement Period Daily/Monthly

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

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

Minimum opening deposit

$0 $0 $0 $100 $25 $0 $25 $0 $0 $0

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
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See how much you can earn annually on

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.

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

Enter your savings amount.
Couple on vacation discussing ways to save money while enjoying the view of a river.

No. Fees. Period.

That means you won't be charged an account fee on our Online Savings Account.

Outgoing wire transfers are subject to a service charge.

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.

$
Please enter an amount between $2,500 and $5,000,000.
Yearsyrs
Total interest earned
Total interest What you’ll earn with our Online Savings Account

Amount is cumulative interest earned over duration of time chosen.

‘Total savings’ equals initial deposit plus interest earned over duration of time chosen.

Savings FAQ

View Savings FAQ

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.

There is no minimum deposit to open a Discover Online Savings account.

Interest is compounded daily and credited to your account monthly.

Funds on deposit at Discover Bank are FDIC-insured up to the maximum allowed by law. For more information, visit our FDIC information page.

Yes, your savings account is eligible for enrollment in our overdraft protection service. Click here for more information about overdraft protection.

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