Betterment vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Betterment
Cash Reserve
3.50%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Betterment
Cash Reserve
Discover Bank
Online Savings Account
3.40%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Betterment vs. Discover Bank Savings Calculator
Betterment earns $63.6 more than Discover Bank.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$2,114.10(10.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,114.10
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Betterment vs. Discover Bank
Why Betterment?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
No distinct advantages found vs Betterment.
— Key Feature Differences —
Better Returns at $10,000
BettermentBetterment's Cash Reserve earns more on smaller deposits (approx. $350 vs $340/yr).
Shared Benefits
Over a 1-year period, Betterment's Cash Reserve pays $10 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.
Executive Summary
Betterment's Cash Reserve offers a higher APY of 3.50% compared to Discover Bank's Online Savings Account, which has an APY of 3.40%. Both accounts are online-only, require no maintenance fees, and have no minimum balance requirements, making them accessible options for savers. Notably, Betterment's account allows deposits starting at just $10, while Discover Bank has a minimum deposit of $0. Additionally, neither account requires direct deposit, providing flexibility for users.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both Betterment and Discover Bank.
| Feature | Betterment | Discover Bank |
|---|---|---|
| APY | 3.50% Verified: 12/10/2025 ↘︎ 0.50%90d Change | 3.40% Verified: 12/10/2025 ↘︎ 0.10%90d Change |
| Product Name | Cash Reserve | Online Savings Account |
| Minimum Deposit | $10 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.7 | iOS4.9 Android4.8 |
| BBB Rating | A- | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Discover Bank |
|---|---|---|
| Cash Reserve | Online Savings Account | |
Current APY | 3.50% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.5 | -3.7 |
Days Since Change | 39 | 71 |
11-Month High | 4.00% | 3.75% |
11-Month Low | 3.50% | 3.40% |
Adjustments / Mo | 0.19 | 0.37 |
Volatility Score | 0.049 | 0.035 |
How to read these metrics(Click to expand)
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