Discover Bank vs. EverBank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | EverBankPerformance Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.90% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Discover Bank vs. EverBank
As of Discover Bank offers an APY of 3.30% for its Online Savings Account, with a minimum balance of $0, compared to EverBank's 3.90% APY for its Performance Savings account, with a minimum balance of $0.
EverBank pays $60 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $330, while EverBank pays $390 - an APY advantage for EverBank.
Why Discover Bank?
No distinct advantages found vs EverBank.
Why EverBank?
- ✓Higher potential APY (3.90% vs 3.30%) on all balances
- ✓Physical branch access (11 locations in Florida and California)
— Key Feature Differences —
Better Returns at $10,000
EverBankEverBank's Performance Savings earns more on smaller deposits (approx. $390 vs $330/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $975 vs $825/yr).
Best for Simplicity
EverBankEverBank's Performance Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, EverBank's Performance Savings pays $60 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 as of
EverBank offers a Performance Savings account with a competitive APY of 3.90%, making it the winner in this comparison. This account is online-only, requires no minimum deposit or balance, and has no maintenance fees, providing a straightforward savings option. In contrast, Discover Bank's Online Savings Account, which is currently not open to new customers, offers a lower APY of 3.30%. While both accounts have similar features, EverBank's higher yield makes it a better choice for savers looking for higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. EverBank Savings Calculator
You earn $60 more with EverBank than Discover Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Discover Bank | EverBank |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.90% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Online Savings Account | Performance Savings |
| 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 | iOS4.7 Android4.8 |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Available Native integration verified. |
| BBB Rating | A+ | A+ |
| Important Notes | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Next Steps | Visit SiteVerify at Discover Bank Non-sponsored link to official site | Visit SiteVerify at EverBank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | EverBank |
|---|---|---|
| Online Savings Account | Performance Savings | |
Current APY | 3.30% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -3.6 |
Days Since Change | 13 | 33 |
12-Month High | 3.75% | 4.30% |
12-Month Low | 3.30% | 3.90% |
Adjustments / Mo | 0.41 | 0.16 |
Volatility Score | 0.037 | 0.036 |
How to read these metrics(Click to expand)
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