Discover might be best known for its credit cards, but it also offers deposit products. The online bank’s savings account comes with a solid interest rate and no minimum deposit or monthly fees, making it a fine place to store your emergency fund.

Discover savings account interest rate

Discover Bank has only one savings account and it offers the same rate regardless of your balance.

Account name APY Minimum deposit
 Online savings account 4.30% APY No minimum deposit

Note: The annual percentage yield (APY) shown is updated weekly, and may vary by region.

How Discover savings accounts compare with top-yielding banks

Discover’s savings account offers a competitive interest rate, which comes without a monthly fee or a minimum deposit requirement, though higher rates on savings can be found at other online banks.

Other savings options at Discover

Discover also offers a money market account and a broad range of certificates of deposit, if you’re looking for other options for your savings. The money market account pays a slightly lower interest rate than the savings account.