Discover Bank vs. MutualOne Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 7, 2026 | MutualOne BankMo Premium Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.40% | 4.07% |
Est. Earnings | $5,000+$170 $10,000+$340 $25,000+$850 | $5,000+$0 $10,000+$0 $25,000+$1,018 |
Min Deposit | $0 | $20,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Discover Bank vs. MutualOne Bank
As of Discover Bank offers an APY of 3.40% for its Online Savings Account, with a minimum balance of $0, compared to MutualOne Bank's 4.07% APY for its Mo Premium Savings account, with a minimum balance of $20,000.
MutualOne Bank pays $67 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $340, while MutualOne Bank pays $407 - an APY advantage for MutualOne Bank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 4.4)
Why MutualOne Bank?
- ✓Higher potential APY (4.07% vs 3.40%)
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
— Key Feature Differences —
Better Returns at $10,000
Discover BankDiscover Bank's Online Savings Account earns more on smaller deposits (approx. $340 vs $0/yr).
Better Returns at $25,000
MutualOne BankMutualOne Bank's Mo Premium Savings pulls ahead with larger amounts (approx. $1018 vs $850/yr).
Best for Simplicity
MutualOne BankMutualOne Bank's Mo Premium Savings offers 4.07% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, MutualOne Bank's Mo Premium Savings pays $67 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
MutualOne Bank offers a superior Mo Premium Savings account with an APY of 4.07%, significantly higher than Discover Bank's Online Savings Account, which provides an APY of 3.40%. The Mo Premium Savings account requires a minimum deposit of $20,000 but has no direct deposit requirement, making it a strong choice for those with larger savings. In contrast, Discover's account has no minimum deposit or maintenance fees and is online-only, appealing to those seeking accessibility with smaller amounts. Overall, MutualOne Bank's offering stands out for higher returns on larger deposits.
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. MutualOne Bank Savings Calculator
You earn $134 more with MutualOne Bank than Discover Bank on a $20,000 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+$680.00(3.3%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,680.00
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Discover Bank | MutualOne Bank |
|---|---|---|
| APY | 3.40% Verified: 1/7/2026 Stable (90d) | 4.07% Verified: 1/7/2026 Stable (90d) |
| Product Name | Online Savings Account | Mo Premium Savings |
| Minimum Deposit | $0 | $20,000 |
| Min. Balance for APY | $0 | $20,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.9 Android4.4 |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Available Verified via website and app descriptions. |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Discover Bank Non-sponsored link to official site | Visit SiteVerify at MutualOne Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | MutualOne Bank | |
|---|---|---|---|
| Online Savings Account | Online Savings | Mo Premium Savings | |
Current APY | 3.40% | 0.40% | 4.07% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -1.7 | 0.0 | -0.0 |
Days Since Change | 99 | 114 | 114 |
4-Month High | 3.50% | 0.40% | 4.07% |
4-Month Low | 3.40% | 0.40% | 4.07% |
Adjustments / Mo | 0.26 | 0.00 | 0.00 |
Volatility Score | 0.009 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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