Discover Bank vs. Ivy Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | Ivy BankHigh-Yield Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 3.30% | 0.05% - 3.85% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$193 $10,000+$385 $25,000+$963 |
Min Deposit | $0 | $2,500 |
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® SupportedDaily CompoundingRate Changes Often | FDIC InsuredMod. MinimumGreat iOS AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Discover Bank vs. Ivy Bank
Executive Summary
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 3.85%, making it the standout option compared to Discover Bank, which currently has no available products. The Ivy Bank account requires a minimum deposit of $2,500 and is online-only, with no maintenance fees. However, eligibility is restricted as residents of California and U.S. Territories (except the District of Columbia) cannot apply. Overall, Ivy Bank provides a strong savings option for eligible customers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Discover Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.8 vs 0.0)
- ✓Fast transfers via Zelle® (up to $600 a day)
- ✓Available Nationwide
Why Ivy Bank?
- ✓Higher potential APY (3.85% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $385 vs $330/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $963 vs $825/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Discover BankDiscover Bank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $55 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. Ivy Bank Savings Calculator
You earn $55 more with Ivy Bank 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
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $329 per year in interest.
Both Discover Bank and Ivy Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Discover Bank | Ivy Bank |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.85% Range: 0.05% - 3.85% Verified: 2/21/2026 ↘︎ 0.40%90d Change |
| Product Name | Online Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $2,500 |
| Min. Balance for APY | $0 | $2,500 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Not Supported |
| 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 Ivy Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | Ivy Bank |
|---|---|---|
| Online Savings Account | High-Yield Savings Account | |
Current APY | 3.30% | 3.85% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.4 | -11.1 |
Days Since Change | 8 | -33 |
2-Month High | 3.40% | 4.25% |
2-Month Low | 3.30% | 3.85% |
Adjustments / Mo | 0.47 | 1.41 |
Volatility Score | 0.010 | 0.028 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Discover Bank's APY of 3.30% with other banks
Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.20% | $0 |
| Ivy Bank vs American Express | 3.30% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Bank of America | 0.01% | $100 |
| Ivy Bank vs Barclays | 3.85% | $0 |
| Ivy Bank vs Capital One | 3.30% | $0 |
| Ivy Bank vs Chase Bank | 0.01% | $0 |
| Ivy Bank vs Chime | 3.00% | $0 |
| Ivy Bank vs CIT Bank | 3.75% | $100 |
| Ivy Bank vs Citibank | 3.20% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $0.01 |
| Ivy Bank vs Openbank | 4.09% | $500 |
| Ivy Bank vs Pibank | 4.60% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.50% | $0 |
| Ivy Bank vs Varo Bank | 5.00% | $0 |
| Ivy Bank vs Wealthfront | 3.95% | $0 |
| Ivy Bank vs Wells Fargo | 0.05% | $25 |