Discover Bank: Savings Accounts & Rates
Savings rates updated: 10/14/2025
Mission statement: Banksparency aims to make Discover Bank's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.
Note: Interest rates below are reported as APY, or Annual Percentage YieldWe earn a commission if you open an account through some links on this page.
Savings Overview
Online Savings Account: 3.40% APY(Rank 76 out of 82 tracked HYSAs)
Offered by the affiliated Capital One:
360 Performance Savings: 3.40% APY(Rank 74 out of 82 tracked HYSAs)
National Savings Interest Rate: 0.4% (as of 9/15/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Riverwoods, Illinois
Founded: 1960
Affiliation: Discover Bank, a subsidiary of Discover Financial Services, Inc., was acquired by Capital One on May 18, 2025.
Access to Branches: None
BBB Rating: A+ (BBB Accredited)
App Store Rating: 4.9/5
Google Play Rating: 4.3/5
Website: Visit Discover Bank
Our Take on Discover Bank
Highlights
- Current APY is 3.40%, competitive for high-yield savings accounts.
- No minimum deposit or balance requirements.
- No maintenance fees, enhancing overall savings.
- High App Store rating at 4.9 indicates user satisfaction.
Considerations
- Current APY decreased from 3.50% in the last 30 days.
- Online-only account limits in-person banking options.
- No branches available for face-to-face service.
- Direct deposit not required, but may limit some features.
Savings Account: In-Depth View
Savings Account Offered by Discover Bank
| Feature | Online Savings Account |
|---|---|
| APY | 3.40% (as of 10/14/2025) |
| APY Trend | -0.10% MoM |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $0 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
| Sponsored Link | |
No deposit agreement summary available for this bank. | |
Calculate Savings for Discover Bank
Online Savings Account (APY: 3.40%)
Total savings breakdown:
- Interest earned: $1,322.7 (8.63%)
- Total contributions: $13,000 (84.84%)
- Initial deposit: $1,000 (6.53%)
Your total balance
$15,322.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Discover Bank Savings Rates Over Time
Historical APY Insights
| Metric | Online Savings Account |
|---|---|
| Latest APY | 3.40 % |
| Trend | Sideways |
| Slope (bps/mo) | -3.9 |
| Rate Changes / Mo | 0.45 |
| Days Since Last Change | 14 |
| High (-9 m) | 3.75 % |
| Low (-9 m) | 3.40 % |
| Draw-down from High | -9.3 % |
| Volatility (CV) | 0.029 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-9 m)
- Highest APY in the last 266 days.
- Low (-9 m)
- Lowest APY in the last 266 days.
- Draw-down from High
- How far today sits below the 9-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Discover Bank's Savings Account
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- Neighbors Bank - 4.50% APY
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- Popular Direct - 4.05% APY
- Presidential Bank - 4.00-4.50% APY
- Prime Alliance Bank - 3.90% APY
- Primis Bank - 3.85% APY
- Quontic Bank - 3.75% APY
- RBMAX - 3.90% APY
- Rising Bank - 4.10% APY
- ROGER - 3.87% APY
- Salem Five Direct - 4.01% APY
- Sallie Mae Bank - 3.90% APY
- Santander Bank - 0.01% APY
- SmartyPig - 3.90% APY
- SoFi Bank - 4.50% APY
- Synchrony Bank - 3.80% APY
- TAB Bank - 3.80% APY
- TD Bank - 0.05-2.75% APY
- The State Exchange Bank - 3.86% APY
- TIMBR - 4.40% APY
- UFB Direct - 3.76-3.96% APY
- Upgrade - 3.42% APY
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- Varo Bank - 2.50-5.00% APY
- Wells Fargo - 0.05-0.05% APY
- Western Alliance Bank - 4.10% APY
- Zynlo Bank - 4.20% APY
| Feature | Discover Bank | Select a bank... |
|---|---|---|
| Product | Online Savings Account | N/A |
| APY | 3.40% (as of 10/14/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |
Bank-to-Bank Comparisons
Compare Discover Bank's APY of 3.40% with other banks
Alternatives to Discover Bank
Banks with Higher/Similar Savings APY
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Wells Fargo
Way2Save Savings: 0.01% APY
Minimum Deposit: $25
Platinum Savings: 0.05% APY
Bundled Savings & Checking Account
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Openbank
High-Yield Savings Account: 4.20% APY
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The State Exchange Bank
High-Yield Savings Account, powered by Raisin: 3.86% APY
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Poppy Bank
Poppy Personal Savings: 0.10% APY
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Poppy Premier Online Savings: 4.25% APY
Minimum Deposit: $1,000
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Poppy Premier Personal Savings: 0.50% APY
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FNBO Direct
High-Yield Online Savings Account: 3.00% APY
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Salem Five Direct
eOne Savings: 4.01% APY
Minimum Deposit: $10
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Marcus by Goldman Sachs
Marcus Online Savings Account: 3.65% APY
Minimum Deposit: $0
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OMB Bank
High Interest Savings Account: 1.00% APY
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Minimum Deposit: $25
Prime Alliance Bank
Personal Savings: 3.90% APY
Minimum Deposit: $0
E*TRADE from Morgan Stanley
Premium Savings Account: 3.75% APY
Minimum Deposit: $0
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BrioDirect
High-Yield Savings Account: 4.20% APY
Minimum Deposit: $5,000
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