discover savings account benefits - Brave Search

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5 reasons to have a Discover Savings Account | Discover

6 days ago - Whether you’re saving for a new set of wheels like Stous and his wife, a home down payment, an emergency fund or [enter your next big financial goal here], an online savings account could help you save for your next financial goal.

discover.com › online banking › high yield online savings account

High Yield Savings Account - No Monthly Fees | Discover

Open a high interest savings account that offers high yield interest rates with no monthly balance requirements or monthly fees.

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People also ask

What are Discover Savings Accounts?

Discover offers one savings account, a high-yield savings account. A high-yield savings account is an account that online banks and credit unions offer that pays above-average interest rates on deposits. The Discover Online Savings Account pays 3.60% (as of 04/22/25) APY, well above the national average.

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Discover Savings Account Review: Comprehensive Analysis

Is a Discover Savings Account secure?

Yes, your Discover savings account is secure. Discover Bank is a Member FDIC bank. Deposits held in a Discover Online Savings Account are insured for up to $250,000 per depositor, per account ownership type.

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Discover Savings Account Review: Comprehensive Analysis

What interest rate does the Discover Savings Account offer?

The Discover Online Savings Account currently pays 3.60% (as of 04/22/25) APY. The average savings rate is only 0.42%, according to the FDIC. It's one of the best banks among national brands, although smaller places may offer even higher rates right now.

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Discover Savings Account Review: Comprehensive Analysis

discover.com › home › why open a savings account? 5 reasons to add savings to your financial mix

Why open a savings account? | Discover

1 week ago - When you’re choosing a savings account, keep in mind that connected accounts make it easy to move money around, especially when your savings goals require monthly and/or automatic transfers. If you’re wanting to save up for those home repairs in advance of getting started, for example, you can set up automatic transfers from your checking account to your savings account so you’re regularly working toward your goal and keeping your eyes on the prize.

discover.com › home › 4 benefits of using online savings accounts

4 benefits of an online savings account | Discover

1 month ago - Since you no longer have to spend time commuting to and from a bank branch, it’s easier to enjoy the benefits of an online savings account (think online transfers and direct deposit from your paycheck). This convenience will leave you with more time on your to-do list to better manage your finances.

Business Insider

businessinsider.com › personal finance › banking › savings › discover savings account rates

Discover Savings Account Review: Comprehensive Analysis

May 8, 2025 - The Discover® Online Savings Account has a good interest rate and low fees — you'll earn 3.60% (as of 04/22/25) APY while paying no monthly service fee The $0 minimum opening deposit might be especially attractive to new savers who don't ...

taxfyle.com › blog › discover-high-yield-savings

Discover High Yield Savings: Pros, Cons, and Alternatives | Taxfyle

June 28, 2024 - High-yield savings accounts, like the Discover high-yield savings account, offer significantly higher interest rates compared to traditional savings accounts. The savings account interest rate for high-yield options can be much more lucrative, often exceeding the national average savings interest rate substantially. For instance, while traditional accounts might offer an APY as low as 0.05%, a high-yield account could offer rates as high as 1.50% or more. One of the key benefits ...

discover.com › home › 7 types of savings accounts you should know

Learn the different types of savings accounts | Discover

1 month ago - Saving money regularly in a savings account can help you make progress toward a number of goals, such as a down payment on a home or a secure retirement. A savings account can also serve as your emergency fund when unexpected expenses like home ...

investopedia.com › discover-savings-account-interest-rates-7500041

Discover Savings Account Interest Rates: January 2026

1 week ago - Although the bank's APY is high compared to the national average (0.40%, as of September 2025), it’s low compared to the best high-yield savings accounts on the market. Discover doesn't charge any account fees, though, so you don't have to worry about extra costs.

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Discover® Online Savings Review: Great for Mobile Bankers | The Motley Fool

October 10, 2025 - Fee-averse savers: With zero monthly fees, no overdraft fees, and no minimum balance requirements, this is a stress-free savings option that won't eat into your earnings. People who prefer in-person banking: With just one physical branch, Discover ...

cnbc.com › cnbc select › banking › discover bank review: the best high-yield savings and checking account offered by a big bank

Discover Bank review: The best high-yield savings and checking account offered by a big bank

December 8, 2020 - CNBC Select reviewed the high-yield ... This account offers users a strong interest rate through its high-yield savings and the option to add a checking account with ATM access and cash-back rewards....

discover.com › home › what is a high-yield savings account?

What is a high-yield savings account? Start here | Discover

November 24, 2025 - High-yield savings accounts allow you to grow your money through compound interest, she adds. With compound interest, you earn interest on both your principal—in other words, your bank balance—and the interest you receive.

joinkudos.com › blog › discover-high-yield-online-savings-account-review-high-apy-with-no-monthly-fees

Discover High Yield Savings Review: Best No-Fee Account

The Discover High Yield Online Savings Account stands out as an excellent choice for most savers. With its combination of high yields, zero fees, and user-friendly digital features, it offers everything most people need in a modern savings account.

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Discover Savings Account Rates – Forbes Advisor

December 30, 2022 - The account has no minimum deposit requirement or monthly maintenance fees and earns well above the national average savings rate of 0.39%. While Discover offers a generous APY of 3.40%, higher rates are available at other online banks.

nerdwallet.com › article › banking › discover-savings-bonus

Discover Savings Bonus: $150 or $200 Promotion - NerdWallet

March 6, 2019 - The Discover savings bonus could get you $150 or $200. The bank also has some of the best savings rates on the market. Here's how to qualify for the bonus.

finder.com › www.finder.com › bank accounts › discover › discover® online savings account review

Discover® Online Savings Account Review

Discover® Online Savings Account Review

Take advantage of this high-interest Discover savings account with $0 monthly fees, online banking and more. Get the pros and cons in this review. <p>The Discover® Online Savings Account is one of the few savings accounts from a major bank that offers a very competitive 3.40% APY, which is nearly 5x higher than the national average.<sup>(1)</sup> It pairs well with the Discover Cashback Checking account, which allows you to earn cash back on purchases and automatically deposit those savings directly into your savings account. However, as with most online accounts, you can't deposit cash direct

Rating: 9.6/10

discover.com › home › does it cost money to open a savings account?

Does it cost money to open a savings account? | Discover

1 week ago - High-yield savings accounts can offer a significantly higher annual percentage yield than the national average. In these days of online banking, it’s all about convenience. So look for an easy-to-use mobile app, real customer service from real people, and other services that are important to you. Whether you’re trying to build an emergency fund or save up for a big goal, a savings account can help you get there.

reddit.com › r/discover › savings account seems too good to be true ?

Savings account seems too good to be true ? : r/discover

May 13, 2023 - Online HYSA depositors benefit from their financial institution not paying to maintain bricks and mortar locations, so they have no need to hammer relentlessly with fees. While the discover hysa account does have terms and conditions, they are minimal.

reddit.com › r/discover › online discover savings acct.

r/discover on Reddit: Online Discover Savings Acct.

February 6, 2024 -

Just opened one. What has been everyone’s experience? I opened it due to the higher interest return. Thanks in advance.

I also have Discover’s HYSA. I went with them for two major reasons: I have a Discover It credit card so I can access both the credit card account and the savings account in one app. While there are other HYSAs that offer higher rates, Discover does a good job at keeping their APY consistently competitive and without any requirements like direct deposit.

It’s nice to also have a checking account with them to easily transfer funds with zero wait.

fortune.com › article › discover-bank-review

Discover Bank review: Everything you need to know in 2026 | Fortune

November 17, 2025 - Bank details checked Nov. 17, 2025. Discover Bank has a wide variety of CDs with yields up to 4.05% APY for select term lengths. Terms range from three months to 10 years. Uniquely, Discover doesn’t enforce a minimum deposit to open a CD.

money.com › banking › high-yield savings accounts

Discover High-Yield Savings Accounts Review | Money

September 15, 2025 - Aside from the ease of opening an account, the Discover high-yield savings calculator gives you an estimation of how much you could earn in interest depending on how much you deposit and how much time passes. The educational material is informative and easy to digest, which means you'll know what you're signing up for as you complete the Discover high-yield savings application. Ads by Money. We may be compensated if you click this ad.Ad · Save money the right way with a High-Yield Savings Account