Discover Bank vs. Sallie Mae Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | Sallie Mae BankHigh-Yield Savings Account Feb 6, 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® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingStable Rate |
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. Sallie Mae Bank
Executive Summary
Sallie Mae Bank offers a High-Yield Savings Account with a competitive APY of 3.90%. This account requires no minimum deposit or balance, and there are no maintenance fees, making it an accessible option for savers. Additionally, it is an online-only product, providing convenience for those who prefer digital banking. In contrast, Discover Bank currently does not have any products available for comparison. Therefore, based on the available data, Sallie Mae Bank is the clear choice for high-yield savings.
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?
- ✓Higher rated iOS app (4.9 vs 1.5)
- ✓Higher rated Android app (4.8 vs 1.6)
- ✓Fast transfers via Zelle® (up to $600 a day)
Why Sallie Mae Bank?
- ✓Higher potential APY (3.90% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account earns more on smaller deposits (approx. $390 vs $330/yr).
Better Returns at $25,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $975 vs $825/yr).
Best for Simplicity
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account offers 3.90% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Discover BankDiscover Bank offers an iOS app rated 4.9 (vs. 1.5) and Android app rated 4.8 (vs. 1.6)
Shared Benefits
Over a 1-year period, Sallie Mae Bank's High-Yield Savings Account 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. Sallie Mae Bank Savings Calculator
You earn $60 more with Sallie Mae 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
Sallie Mae Bank
High-Yield Savings Account
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.
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 Sallie Mae Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Discover Bank | Sallie Mae Bank |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.90% Verified: 2/6/2026 Stable (90d) |
| Product Name | Online Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| 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 Sallie Mae Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | Sallie Mae Bank |
|---|---|---|
| Online Savings Account | High-Yield Savings Account | |
Current APY | 3.30% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -0.1 |
Days Since Change | 8 | 350 |
12-Month High | 3.75% | 4.00% |
12-Month Low | 3.30% | 3.90% |
Adjustments / Mo | 0.42 | 0.08 |
Volatility Score | 0.037 | 0.004 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Discover Bank's APY of 3.30% with other banks
Compare Sallie Mae Bank's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Sallie Mae Bank vs Ally Bank | 3.30% | $0 |
| Sallie Mae Bank vs American Express | 3.30% | $0 |
| Sallie Mae Bank vs Axos Bank | 4.21% | $0 |
| Sallie Mae Bank vs Bank of America | 0.01% | $100 |
| Sallie Mae Bank vs Barclays | 4.00% | $0 |
| Sallie Mae Bank vs Capital One | 3.30% | $0 |
| Sallie Mae Bank vs Chase Bank | 0.01% | $0 |
| Sallie Mae Bank vs Chime | 3.00% | $0 |
| Sallie Mae Bank vs CIT Bank | 3.75% | $100 |
| Sallie Mae Bank vs Citibank | 3.20% | $0 |
| Sallie Mae Bank vs EverBank | 3.90% | $0 |
| Sallie Mae Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Sallie Mae Bank vs Newtek Bank | 4.20% | $0.01 |
| Sallie Mae Bank vs Openbank | 4.09% | $500 |
| Sallie Mae Bank vs Pibank | 4.60% | $0 |
| Sallie Mae Bank vs SoFi Bank | 4.00% | $0 |
| Sallie Mae Bank vs Synchrony Bank | 3.50% | $0 |
| Sallie Mae Bank vs Varo Bank | 5.00% | $0 |
| Sallie Mae Bank vs Wealthfront | 3.95% | $0 |
| Sallie Mae Bank vs Wells Fargo | 0.05% | $25 |