Barclays vs Discover Bank
High-Yield Savings Accounts Comparison
Last Updated: August 1, 2025
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Summary of Barclays vs. Discover Bank
As of August 1, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to Discover Bank's 3.50% APY for its Online Savings Account account.
Barclays yields $40 more than Discover Bank on a $10,000 balance after one year. Barclays pays $390 (with an effective APY of 3.9%), while Discover Bank pays $350 - 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 a strong BBB rating of A+ and is accredited.
- Barclays has a higher App Store rating of 4.8.
Potential Drawbacks
- Barclays requires a minimum balance of $250,000 to earn the highest APY.
- Barclays has no branches available for in-person banking.
- Barclays' Google Play rating is lower at 4.7.
Discover Bank
Strengths
- Discover Bank has no minimum balance requirement for its APY.
- Discover Bank's App Store rating is slightly higher at 4.9.
- Discover Bank also has a strong BBB rating of A+ and is accredited.
Potential Drawbacks
- Discover Bank's APY is lower at 3.50% compared to Barclays.
- Discover Bank has no branches available for in-person banking.
- Discover Bank's Google Play rating is lower at 4.3.
Summary: Barclays offers a significantly higher APY of 4.10% for large balances, while Discover Bank provides a lower APY of 3.50% with no minimum balance requirement. Both banks have strong BBB ratings and are online-only with no branches. Barclays has a better App Store rating, but Discover Bank excels in having no balance restrictions. Overall, Barclays may appeal to those with larger deposits, while Discover is suitable for users seeking flexibility.
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 8/1/2025) | 3.70% (as of 8/1/2025) | 3.50% (as of 8/1/2025) | |
| 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%. | |||
| 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 6 Months)
| Barclays | Discover Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | Online Savings Account |
| Latest APY | 3.70 % | 4.10 % | 3.50 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -4.3 | -7.3 | -4.6 | |
| Rate Changes / Mo | 0.78 | 0.93 | 0.47 | |
| Days Since Last Change | 54 | 46 | 38 | |
| High (-6 m) | 4.00 % | 4.50 % | 3.75 % | |
| Low (-6 m) | 3.70 % | 4.10 % | 3.50 % | |
| Draw-down from High | -7.5 % | -8.9 % | -6.7 % | |
| Volatility (CV) | 0.022 | 0.033 | 0.024 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 193 days.
- Low (-6 m)
- Lowest APY in the last 193 days.
- Draw-down from High
- How far today sits below the 6-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%
⚠️The higher APY only applies once your balance reaches $250,000.
Total savings breakdown:
- Interest earned: $2,370.2 (11.64%)
- Total contributions: $13,000 (63.82%)
- Initial deposit: $5,000 (24.55%)
Your total balance
$20,370.20
Effective APY: 3.90% (based on your deposit and contributions)
Total balance: $20,370.2
Earnings: $2,370.2
Bank OverviewDiscover Bank
APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Barclays's total earnings would be $256.1 higher than Discover Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 | 3.50% | $0 |
| Barclays vs Axos Bank | 4.46% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.50% | $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 | 4.85% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs Presidential Bank | 4.50% | $5,000 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs UFB Direct | 4.21% | $5000 |
| Barclays vs Varo Bank | 5.00% | $0 |
| Barclays vs Wells Fargo | 2.51% | $25 |
Compare Discover Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Discover Bank vs Ally Bank | 3.50% | $0 |
| Discover Bank vs American Express | 3.50% | $0 |
| Discover Bank vs Axos Bank | 4.46% | $0 |
| Discover Bank vs Bank of America | 0.01% | $100 |
| Discover Bank vs Capital One | 3.50% | $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 | 4.85% | $100 |
| Discover Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Discover Bank vs Presidential Bank | 4.50% | $5,000 |
| Discover Bank vs SoFi Bank | 3.80% | $0 |
| Discover Bank vs Synchrony Bank | 3.80% | $0 |
| Discover Bank vs UFB Direct | 4.21% | $5000 |
| Discover Bank vs Varo Bank | 5.00% | $0 |
| Discover Bank vs Wells Fargo | 2.51% | $25 |