Barclays vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BarclaysTiered Savings Feb 6, 2026 | Discover BankOnline Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 3.85% - 4.00% | 3.30% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | Discover Bank is part of Capital One and this account is not open to new customers. |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Barclays vs. Discover Bank
Executive Summary
Barclays offers a Tiered Savings account with a competitive APY of 4.00% for balances over $250,000, while a lower APY of 3.85% applies to smaller balances. Additionally, they provide an Online Savings account with an APY of 3.60%. Both accounts are online-only and do not require direct deposit, with no maintenance fees. In contrast, Discover Bank currently does not have any products listed. Therefore, Barclays is the clear choice for those seeking high-yield savings options.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Barclays?
- ✓Higher potential APY (3.60%-4.00% vs 3.30%) on all balances
- ✓Offers 2 different high-yield savings options
Why Discover Bank?
- ✓Fast transfers via Zelle® (up to $600 a day)
— Key Feature Differences —
Better Returns at $10,000
BarclaysBarclays's Tiered Savings earns more on smaller deposits (approx. $385 vs $330/yr).
Better Returns at $25,000
BarclaysBarclays's Tiered Savings pulls ahead with larger amounts (approx. $963 vs $825/yr).
Best for Simplicity
BarclaysBarclays's Online Savings offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Barclays's Tiered Savings pays $55 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Barclays vs. Discover Bank Savings Calculator
You earn $55 more with Barclays than Discover Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $329 per year in interest.
Both Barclays and Discover Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Barclays | Discover Bank |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 2/6/2026 ↘︎ 0.10%90d Change | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change |
| Product Name | Tiered Savings | Online Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $250,000 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| BBB Rating | A+ | A+ |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteVerify at Barclays Non-sponsored link to official site | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | Discover Bank | |
|---|---|---|---|
| Online Savings | Tiered Savings | Online Savings Account | |
Current APY | 3.60% | 4.00% | 3.30% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.6 | -3.9 | -3.5 |
Days Since Change | 51 | 58 | 8 |
12-Month High | 4.00% | 4.50% | 3.75% |
12-Month Low | 3.60% | 4.00% | 3.30% |
Adjustments / Mo | 0.50 | 0.58 | 0.42 |
Volatility Score | 0.028 | 0.038 | 0.037 |
How to read these metrics(Click to expand)
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