Barclays vs Discover Bank
High-Yield Savings Accounts Comparison
Last Updated: June 13, 2025
Summary of Barclays vs. Discover Bank
As of June 13, 2025 Barclays offers an APY of 4.20% for its Tiered Savings account, compared to Discover Bank's 3.60% APY for its Online Savings Account account.
Barclays yields $60 more than Discover Bank on a $10,000 balance after one year. Barclays pays $420, 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 high APY of 4.20% for balances over $250,000.
- Barclays has a strong BBB rating of A+ and is BBB Accredited.
- Barclays has a higher App Store rating at 4.8.
Potential Drawbacks
- Barclays' APY has decreased from 4.30% in the last 30 days.
- A minimum balance of $250,000 is required to earn the highest APY.
- Barclays does not have any branches.
Discover Bank
Strengths
- Discover Bank has no minimum balance requirement for its savings account.
- Discover Bank maintains a consistent APY of 3.60%.
- Discover Bank has a higher Google Play rating at 4.3.
Potential Drawbacks
- Discover Bank's maximum APY is lower at 3.60%.
- Discover Bank does not have any branches.
- Discover Bank's App Store rating is lower at 4.9.
Summary: Barclays offers a higher APY of 4.20%, but requires a substantial balance of $250,000 to earn it. Discover Bank has no minimum balance and a consistent APY of 3.60%. Both banks are BBB Accredited with an A+ rating, but Barclays has a higher App Store rating, while Discover excels in Google Play. Neither bank has branches, making them online-only options.
Compare Barclays' vs Discover Bank's Savings Accounts
| Barclays | Discover Bank | |||
|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | Online Savings Account |
| APY | 4.00% - 4.20% (as of 6/13/2025) | 3.70% (as of 6/13/2025) | 3.60% (as of 6/13/2025) | |
| 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 4.20% APY is only available for balances over $250,000. For lower balances, the APY is 4.00%. | 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 % | 4.20 % | 3.60 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -3.8 | -6.8 | -4.2 | |
| Rate Changes / Mo | 1.03 | 1.03 | 0.41 | |
| Days Since Last Change | 6 | 6 | 55 | |
| High (-5 m) | 4.00 % | 4.50 % | 3.75 % | |
| Low (-5 m) | 3.70 % | 4.20 % | 3.60 % | |
| Draw-down from High | -7.5 % | -6.7 % | -4.0 % | |
| Volatility (CV) | 0.016 | 0.023 | 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 145 days.
- Low (-5 m)
- Lowest APY in the last 145 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: 4.20%
Total savings breakdown:
- Interest earned: $42 (4.03%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.97%)
Your total balance
$1,042.00
Effective APY: 4.20% (based on your deposit and contributions)
Total balance: $1,042
Earnings: $42
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 $6 more than Discover Bank.
More Comparisons
Compare Barclays' APY of 4.20% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.60% | $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 |
Compare Discover Bank's APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Discover Bank vs Ally Bank | 3.60% | $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 |