Barclays vs Discover Bank
High-Yield Savings Accounts Comparison
Last Updated: June 20, 2025
Summary of Barclays vs. Discover Bank
As of June 20, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to Discover Bank's 3.60% APY for its Online Savings Account account.
Barclays yields $50 more than Discover Bank on a $10,000 balance after one year. Barclays pays $410, while Discover Bank pays $360 - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account.
Barclays
Strengths
- Barclays offers a higher APY of 4.10% for balances over $250,000.
- Barclays has an excellent App Store rating of 4.8.
- Barclays has no maintenance fees on all accounts.
Potential Drawbacks
- Barclays' APY decreased from 4.20% in the last 30 days.
- Barclays requires a minimum balance of $250,000 to earn the highest APY.
- Barclays does not have any branch locations.
Discover Bank
Strengths
- Discover Bank has no minimum balance requirement for its savings account.
- Discover Bank maintains a solid App Store rating of 4.9.
- Discover Bank has a consistent APY of 3.60% over the past 30 days.
Potential Drawbacks
- Discover Bank's APY is lower at 3.60% compared to Barclays.
- Discover Bank has a lower Google Play rating of 4.3.
- Discover Bank does not offer tiered APY options.
Summary: Barclays offers a significantly higher APY of 4.10% for large balances, while Discover Bank provides a stable APY of 3.60% with no minimum balance. Both banks have excellent BBB ratings, but Barclays' APY has recently decreased. Discover Bank excels in user ratings, particularly on the App Store. Neither bank has physical branches, making them both online-only options.
Compare Barclays' vs Discover Bank's Savings Accounts
| Barclays | Discover Bank | |||
|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | Online Savings Account |
| APY | 3.90% - 4.10% (as of 6/20/2025) | 3.70% (as of 6/20/2025) | 3.60% (as of 6/20/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | |
| Minimum Balance for APY | $250,000 | Enough to earn $0.01 in interest | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| Note | The 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | N/A | N/A | |
| Visit Bank | Tiered Savings | Online Savings | Online Savings Account | |
| App Store Rating | 4.8/5 | 4.9/5 | ||
| Google Play Rating | 4.7/5 | 4.3/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 5 Months)
| Barclays | Discover Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | Online Savings Account |
| Latest APY | 3.70 % | 4.10 % | 3.60 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -4.1 | -7.0 | -4.0 | |
| Rate Changes / Mo | 0.99 | 1.19 | 0.40 | |
| Days Since Last Change | 12 | 4 | 61 | |
| High (-5 m) | 4.00 % | 4.50 % | 3.75 % | |
| Low (-5 m) | 3.70 % | 4.10 % | 3.60 % | |
| Draw-down from High | -7.5 % | -8.9 % | -4.0 % | |
| Volatility (CV) | 0.018 | 0.025 | 0.017 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 151 days.
- Low (-5 m)
- Lowest APY in the last 151 days.
- Draw-down from High
- How far today sits below the 5-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.
Calculate Savings Growth for Barclays vs Discover Bank
All calculations are based on APY.
Barclays
APY: 4.10%
Total savings breakdown:
- Interest earned: $41 (3.94%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.06%)
Your total balance
$1,041.00
Effective APY: 4.10% (based on your deposit and contributions)
Total balance: $1,041
Earnings: $41
Bank DetailsDiscover Bank
APY: 3.60%
Total savings breakdown:
- Interest earned: $36 (3.47%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.53%)
Your total balance
$1,036.00
Effective APY: 3.60% (based on your deposit and contributions)
Total balance: $1,036
Earnings: $36
Bank DetailsAfter 1 year Barclays would earn you $5 more than Discover Bank.
More Comparisons
Compare Barclays' APY of 4.10% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.50% | $0 |
| Barclays vs American Express | 3.60% | $0 |
| Barclays vs Axos Bank | 4.66% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.60% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs CIT Bank | 4.00% | $100 |
| Barclays vs Fitness Bank | 5.00% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs Varo Bank | 5.00% | $0 |
Compare Discover Bank's APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Discover Bank vs Ally Bank | 3.50% | $0 |
| Discover Bank vs American Express | 3.60% | $0 |
| Discover Bank vs Axos Bank | 4.66% | $0 |
| Discover Bank vs Bank of America | 0.01% | $100 |
| Discover Bank vs Capital One | 3.60% | $0 |
| Discover Bank vs Chase Bank | 0.01% | $0 |
| Discover Bank vs Chime | 3.75% | $0 |
| Discover Bank vs CIT Bank | 4.00% | $100 |
| Discover Bank vs Fitness Bank | 5.00% | $100 |
| Discover Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Discover Bank vs SoFi Bank | 3.80% | $0 |
| Discover Bank vs Synchrony Bank | 3.80% | $0 |
| Discover Bank vs Varo Bank | 5.00% | $0 |