Discover Bank vs. Elevault
Compare rates, requirements, and features side-by-side to find the best option for you.
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Elevault
High Yield Savings Account
4.08%APYDec 6, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
Elevault
High Yield 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.
Comparison Analysis
Comparing Discover Bank vs. Elevault
Why Discover Bank?
- ✓Higher rated iOS app (4.9 vs 3.7)
- ✓Higher rated Android app (4.8 vs 3.9)
Why Elevault?
- ✓Higher potential APY (4.08% vs 3.40%) on all balances
— Key Feature Differences —
Better Returns at $10,000
ElevaultElevault's High Yield Savings Account earns more on smaller deposits (approx. $408 vs $340/yr).
Better Returns at $25,000
ElevaultElevault's High Yield Savings Account pulls ahead with larger amounts (approx. $1020 vs $850/yr).
Best for Simplicity
ElevaultElevault's High Yield Savings Account offers 4.08% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Discover BankDiscover Bank offers an iOS app rated 4.9 (vs. 3.7) and Android app rated 4.8 (vs. 3.9)
Shared Benefits
Over a 1-year period, Elevault's High Yield Savings Account pays $68 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
Executive Summary
Elevault offers a High Yield Savings Account with a competitive APY of 4.08%, making it the clear winner in this comparison. This account provides an attractive return on deposits up to $250,000, with no interest earned on balances above that limit, and features no maintenance fees or direct deposit requirements. In contrast, Discover Bank's Online Savings Account offers a lower APY of 3.40%, although it is recognized for its superior mobile app experience. Both accounts are online-only and have no minimum deposit or balance requirements.
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.
Top Market Contenders
See who beats both Discover Bank and Elevault.
| Feature | Discover Bank | Elevault |
|---|---|---|
| APY | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change | 4.08% Verified: 12/6/2025 ↘︎ 0.52%90d Change |
| Product Name | Online Savings Account | High Yield Savings Account |
| Minimum Deposit | $0 | $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 | iOS4.9 Android4.8 | iOS3.7 Android3.9 |
| BBB Rating | A+ | A+ |
| Important Notes | - | The 4.08% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
| Next Steps |
Savings Comparison
Elevault earns $435.9 more than Discover Bank.
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
Elevault
High Yield Savings Account
Savings Breakdown
- Interest Earned+$2,486.40(12.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,486.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | Elevault |
|---|---|---|
| Online Savings Account | High Yield Savings Account | |
Current APY | 3.40% | 4.08% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -16.6 |
Days Since Change | 67 | 32 |
4-Month High | 3.50% | 4.60% |
4-Month Low | 3.40% | 4.08% |
Adjustments / Mo | 0.25 | 0.49 |
Volatility Score | 0.014 | 0.048 |
How to read these metrics(Click to expand)
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