Discover Bank vs. Elevault
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Discover Bank vs. Elevault
Key Metrics at a Glance
| Feature | Discover Bank | Elevault |
|---|---|---|
| Top Savings APY | 3.40% Online Savings Account | 4.34% High Yield Savings Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0 |
| Note | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
Discover Bank
Strengths
- Discover Bank offers a competitive APY of 3.40%, though it decreased from 3.50% in the last 30 days.
- Discover Bank has an excellent App Store rating of 4.9.
- Discover Bank is BBB Accredited with an A+ rating.
Potential Drawbacks
- Discover Bank has no physical branches.
Elevault
Strengths
- Elevault offers a higher APY of 4.34%, though it decreased from 4.60% in the last 30 days.
- Elevault has a Google Play rating of 3.9.
Potential Drawbacks
- Elevault is not BBB Accredited despite having an A+ rating.
→ As of October 21, 2025 Discover Bank offers an APY of 3.40% for its Online Savings Account, with a minimum balance of $0, compared to Elevault's 4.34% APY for its High Yield Savings Account, with a minimum balance of $0.
→ Elevault yields $94 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $340, while Elevault pays $434 - an APY advantage for Elevault.
Calculate Savings Growth for Discover Bank vs Elevault
Discover Bank - Online Savings Account
Total savings breakdown:
- Interest earned: $2,050.5 (10.23%)
- Total contributions: $13,000 (64.84%)
- Initial deposit: $5,000 (24.94%)
Your total balance
$20,050.50
Total balance: $20,050.5
Earnings: $2,050.5
Bank OverviewElevault - High Yield Savings Account
Total savings breakdown:
- Interest earned: $2,655.5 (12.86%)
- Total contributions: $13,000 (62.94%)
- Initial deposit: $5,000 (24.21%)
Your total balance
$20,655.50
Total balance: $20,655.5
Earnings: $2,655.5
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Discover Bank's total earnings would be $605 lower than Elevault's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Discover Bank's vs Elevault's Savings Accounts
| Discover Bank | Elevault | ||
|---|---|---|---|
| Product | Online Savings Account | vs | High Yield Savings Account |
| APY | 3.40% (as of 10/21/2025) | 4.34% (as of 10/21/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Note | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | ||
| App Store Rating | 4.9/5 | 3.8/5 | |
| Google Play Rating | 4.3/5 | 3.9/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 3 Months)
| Discover Bank | Elevault | ||
|---|---|---|---|
| Product | Online Savings Account | vs | High Yield Savings Account |
| Latest APY | 3.40 % | 4.34 % | |
| Trend | Sideways | Falling | |
| Slope (bps/mo) | -4.7 | -14.4 | |
| Rate Changes / Mo | 0.39 | 0.39 | |
| Days Since Last Change | 21 | 29 | |
| High (-3 m) | 3.50 % | 4.60 % | |
| Low (-3 m) | 3.40 % | 4.34 % | |
| Draw-down from High | -2.9 % | -5.7 % | |
| Volatility (CV) | 0.013 | 0.028 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 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 (-3 m)
- Highest APY in the last 77 days.
- Low (-3 m)
- Lowest APY in the last 77 days.
- Draw-down from High
- How far today sits below the 3-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.