Discover Bank vs Santander Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
We earn a commission if you open an account through some links on this page.
Summary of Discover Bank vs. Santander Bank
As of September 5, 2025 Discover Bank offers an APY of 3.50% for its Online Savings Account, with a minimum balance of $0, compared to Santander Bank's 0.03% APY for its Santander Savings account, with a minimum balance of $0.
Discover Bank yields $347 more than Santander Bank on a $10,000 balance after one year. Discover Bank pays $350, while Santander Bank pays $3 - an APY advantage for Discover Bank.
Discover Bank
Strengths
- Discover Bank offers a competitive APY of 3.50%.
- Discover Bank has an A+ BBB rating and is BBB Accredited.
- Discover Bank has no maintenance fees.
Potential Drawbacks
- Discover Bank has no physical branches.
Santander Bank
Strengths
- Santander Bank has physical branches primarily in the Northeast and Miami.
- Santander Bank has a 4.8 App Store rating.
Potential Drawbacks
- Santander Bank offers a significantly lower APY of 0.03%.
- Santander Bank has a $1 maintenance fee.
Compare Discover Bank's vs Santander Bank's Savings Accounts
| Discover Bank | Santander Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Santander Savings |
| APY | 3.50% (as of 9/5/2025) | 0.03% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $1 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.3/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 7 Months)
| Discover Bank | Santander Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Santander Savings |
| Latest APY | 3.50 % | 0.03 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.2 | 0.0 | |
| Rate Changes / Mo | 0.40 | 0.00 | |
| Days Since Last Change | 71 | 226 | |
| High (-7 m) | 3.75 % | 0.03 % | |
| Low (-7 m) | 3.50 % | 0.03 % | |
| Draw-down from High | -6.7 % | 0.0 % | |
| Volatility (CV) | 0.026 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 226 days.
- Low (-7 m)
- Lowest APY in the last 226 days.
- Draw-down from High
- How far today sits below the 7-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.
Calculate Savings Growth for Discover Bank vs Santander Bank
Discover Bank
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewSantander Bank
Total savings breakdown:
- Interest earned: $17.2 (0.10%)
- Total contributions: $13,000 (72.15%)
- Initial deposit: $5,000 (27.75%)
Your total balance
$18,017.20
Total balance: $18,017.2
Earnings: $17.2
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Discover Bank's total earnings would be $2,096.9 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.