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Discover Bank savings accounts rates

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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 Bank earned 4.6 out of 5 stars in Bankrate’s review across its deposit products and 5 out of 5 stars for its savings account.

Discover savings account rates

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

Account name APY Minimum deposit
 Online savings account 0.50% No minimum deposit

Note: Annual percentage yield (APY) shown is as of April 14, 2022. APYs for some products may vary by region.

How Discover savings accounts compare with top-yielding banks

Discover’s savings account offers a competitive interest rate, though higher rates can be found at other online banks.

Other savings options at Discover

If you’re looking for other options for your savings, Discover also offers a money market account and a broad range of certificates of deposit. The money market account pays a slightly lower interest rate than the savings account, while Discover’s longer-term CDs pay much higher yields.

Written by
TJ Porter
Contributing writer
TJ Porter is a contributing writer for Bankrate. TJ writes about a range of subjects, from budgeting tips to bank account reviews.
Edited by
Wealth editor