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.

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: The APY (Annual Percentage Yield) shown is as of January 21, 2022. The 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. If you’re looking for the absolute best savings account yield, you can find slightly higher rates 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 multiple CDs. The money market account pays a slightly lower interest rate than the savings account and it’s longer-term CDs pay a slightly higher rate.

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.