Discover Bank: Savings Account & Rates
Mission: Banksparency aims to make Discover Bank's savings accounts transparent and comparable to the market.
Savings Overview
Online Savings Account
| Min. Deposit | $0 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.25% APY.
Also see affiliated bank: Capital One
View productsBank Overview
- HQ LocationRiverwoods, Illinois
- Founded1960
- Ratings & Trust
- Deposit InsuranceFDIC Insured(Cert: 4297)
Our Take on Discover Bank
Highlights
- High APY of 3.40% for Online Savings Account
- No minimum deposit or balance requirements
- No maintenance fees
- Strong ratings: 4.9 (App Store), 4.8 (Google Play)
Considerations
- Online-only bank with no physical branches
- No direct deposit option available
Stop Losing Interest
Discover Bank is trailing the market leaders.
Savings Account: In-Depth View
Savings Account Offered by Discover Bank
| Feature | Online Savings Account |
|---|---|
APY | 3.40%Verified: 12/6/2025 |
APY Trend | Rate Adjusted -0.10% Since 90 days ago |
Min. Deposit | $0 |
Min. Balance | $0 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Discover Bank
Savings Breakdown
- Interest Earned+$1,322.70(8.6%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected 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
Last 10 Months| Metric | Online Savings Account |
|---|---|
Latest APY | 3.40% |
Trend | Sideways |
Slope (bps/mo) | -3.8 |
Rate Changes / Mo | 0.38 |
Days Since Last Change | 67 |
High (-10m) | 3.75% |
Low (-10m) | 3.40% |
Draw-down | -9.3% |
Volatility (CV) | 0.035 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 318-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Discover Bank
| Feature | Current View Discover Bank | Empty Slot |
|---|---|---|
| Product | Online Savings Account | - |
APY | 3.40%Verified: 12/6/2025 | - |
APY Trend | Rate Adjusted -0.10% Since 90 days ago | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
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
For a top list of the highest savings rates, see all HYSA top rates
Citibank
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