Get a $750 Welcome Deposit for eligible new customers who open an 
Find updated Discover Bank Checking, Savings, CD and IRA promotions and bonuses here. *All current bank offers can be found here.
Discover Bank is an online-only bank and has no retail branches. They are able to offer better rates by operating their banking services online. Their line of deposit accounts include Savings, Checking, Money Market, CD, and IRA CD accounts. Discover Bank originally began when it acquired the Greenwood Trust Company in 1985 and is also now headquartered in Greenwood, Delaware.
You’ll find competitive rates with Discover Bank, however, they aren’t market-leading. Be sure to compare rates with all the best listed on our Savings Rates Page and CD Rates Page.
We’ll review current offers below.
Discover Bank $150 & $200 Savings Bonus
Updated $150/$200 Savings Bonus!
You can earn either a $150 or $200 bonus for a new Discover Bank Online Savings account with this offer. The bonus amount will be determined by your deposit amount.
This offer is available as a referral through NerdWallet’s site, using the promo code NW818.
- $150/$200 bonus offers expire 09/05/2018
- Offer available online nationwide
- Direct Deposit is not a requirement
- Application will trigger a Soft Pull, which does not affect your credit
- There are no monthly fees with this account
- No minimum deposit required to open an account
How To Get The $150 Or $200 Bonus
- Apply for your first Discover Online Savings Account by 09/05/18, online or by phone.
- Enter Offer Code NW818 when applying. *Whenever a promo code listed online isn’t accepted for the offer, give customer service a call and typically they will provide one.
- Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus by 09/19/18.
- Maximum bonus eligibility is $200.
Fine Print
- Offer not valid for existing or prior Discover savings customers.
- Account must be open when bonus is credited.
- Bonus is considered interest and will be reported on IRS Form 1099-INT.
- Offer may be modified/withdrawn without notice.
About The Savings Account
Online Savings Account Current Rate: 1.75% APY
Not only will you get a better rate than just about all the major traditional banks, the rate applies to ALL balances rather than being tiered.
Discover is a very well known bank and will be a reliable place to invest your savings.
New accounts have no minimum balance to open and there are no ongoing monthly minimums or maintenance fees that you typically find with your local banks.
You’ll have to do all money transfers online. While there are several options for this process, the easiest is to link your current Checking account to your Discover Online Savings account and transfer that way.
To avoid fees, be sure to keep within 6 money transfers per billing cycle. All of the following are categorized as money transfers:
| ACH Transfer | Online Transfers |
| Funds transfers to an internal/external account | Phone Transfers |
| Wire Transfers | Transfers to repay loans at Discover |
The CIT Bank High Yield Savings and HSBC Direct Online Savings accounts tend to offer top rates from reputable banks. Chase Bank also has an even better cash bonus on their Savings account (all Savings Account bonuses). Visit our Savings/Money Market Rates Page here. Get great rates on Savings accounts from the banks below.
- Synchrony Bank Online Savings, CD, Money Market Promotions
- Marcus By Goldman Sachs Online Savings & CD Offers, Promotions
- Chase Coupon Promo Codes: $200, $300, $350, $500 – August 2018
- Popular Direct Online Savings And CD Account Promotions
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- HSBC Bank $350 & $750 Checking Account Bonuses
- DollarSavingsDirect Online Savings & CD Account Promotions, Offers
- Salem Five Bank Checking, Savings, CD Promotions
MoneysMyLife Top Offer Picks  With 16,000 ATMs and 5,100 branches throughout the United States, Chase Bank is second only to Wells Fargo with regards to the total number of branches. This makes the bonus offers from Chase extremely popular, and they always have several promotions to choose from. Full Review.
 Get a $750 Welcome Deposit for eligible new customers who open an HSBC Premier checking account with qualifying activities.Get a $350 Welcome Deposit for eligible new customers who open an HSBC Advance checking account with qualifying activities. Member FDIC. Apply online for a new TD Bank Checking account to earn either a $300 bonus for the TD Premier Checking account ( $2,500 in direct deposits required), or a $150 bonus for the TD Convenience Checking account ($500 in direct deposits required). This is a limited time offer. Full Review  Barclays has two great card offers that should interest many who are looking for a solid travel rewards credit card.The Barclaycard Arrival® Plus World Elite Mastercard® has a 60,000 miles sign-up bonus worth $630 in travel. You'll be able to earn unlimited 2X miles on every purchase and there are no foreign transaction fees to worry about. See Terms. Full ReviewThe Barclays Arrival® Premier World Elite Mastercard® will earn you 75,000 miles each year (worth $750) if you spend $25,000 on purchases during the year. This credit card is intended for high spenders looking for a card to carry for the long-term. The card will earn unlimited miles at the rate of 2 miles per $1 spent on all purchases. See Terms. Full Review |
CIT Bank is offering a 1.85% APY rate with their Money Market Account for all balances. This account is available online nationwide and consistently offers one of the best rates in the nation. The minimum opening deposit is $100 and there are no fees for opening or maintaining the account. 
Ally Invest is one of the nation's top choices for a low-cost stock broker, and they now have a promotion where you can earn a cash bonus of $50 to $3500, as well as $500 in commission-free trades. Your cash bonus value will depend on your deposit amount made within 60 days of account opening. 
Simple Bank has an offer where you can earn a $20 bonus after opening their free online Checking account that's available nationwide. You'll then be able to earn unlimited $20 referral bonuses. Direct deposit isn't a requirement and all you and your referrals need to do is open a new account and use the Simple Visa debit card to make a first purchase. Discover Bank Checking $360 In Yearly Cash Back Bonus
Earn $30 Monthly/$360 Yearly In Cash Back…
The Discover Cashback Checking account is a great option if you’re looking into Online Checking accounts, which essentially is also considered a Free Checking account. One of the ways this account sets itself apart from competitors is by allowing you to earn up to $360 a year in cash back bonuses. Previously the yearly cash back maximum was capped at $120.
It’s also one of the best accounts for low-fee ATM debit card use internationally.
This isn’t like the other sign-up bank promotions available, but rather an extra perk for an already great Checking account.
If you’re wondering about the convenience of accessing your cash, you’ll have over 60,000 ATM locations which are free. These ATMs are scattered throughout the country at popular drug stores, convenience stores, grocery stores, etc., such as CVS, Walgreens, Tom Thumb, Target, 7-Eleven and many others.
How It Works
- Earn 1% cash back on up to $3,000 in debit card purchases each month
- ATM transactions, the purchase of money orders or cash-equivalents, cash over portions of point-of-sale transactions, and Peer-to-Peer (P2P) payments are not eligible for cashback rewards.
- In addition, purchases made using third-party payment accounts (services such as Venmo and PayPal, who also provide P2P payments) may not be eligible for cashback rewards.
- You can redeem your cashback bonus for any amount.
Discover Bank Online CD Rates Up To 2.45% APY
Discover Bank has always been one of the best places to open a CD account online. Their CD rates have been consistently very competitive for 12-month CDs, all the way up to 10-year CDs.
These high rates consistently exceed the National Averages. You can also open a new CD account with terms as short as 3 months, and the minimum deposit for accounts is $2,500.
Below are the current rates for Discover’s Online CDs.
| Term | APY |
| 10 Years | 2.95% |
| 7 Years | 2.90% |
| 5 Years | 2.85% |
| 4 Years | 2.60% |
| 3 Years | 2.55% |
| 30 Months | 2.50% |
| 24 Months | 2.50% |
| 18 Months | 2.45% |
| 12 Months | 2.40% |
| 9 Months | 0.70% |
| 6 Months | 0.65% |
| 3 Months | 0.35% |
*Our CD rates guide here
BBVA Compass and CIT Bank tend to always have competitive rates nationwide.
- Synchrony Bank Online Savings, CD, Money Market Promotions
- Live Oak Bank Online Savings And CD Offers, Promotions
- Popular Direct Online Savings And CD Account Promotions
- Virtual Bank Checking, Money Market, CD Promotions & Offers
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- Crestmark Bank Online CD Account Promotions Available Nationwide
- Salem Five Bank Checking, Savings, CD Promotions
Discover Bank Online Money Market Account
Money Market accounts typically offer higher interest rates, with higher account balance requirements. In the Discover Bank’s case, their Online Savings account is offering better rates than their Money Market account. Regardless, here are the details below.
| Current Money Market Rates | |
| Balances under $100,000 | Balances $100,000 and over |
| 1.60% APY | 1.65% APY |
You’ll also have access to over 60,000 free ATMs with this account. The minimum opening deposit is $2,500 and there are no monthly fees to worry about, but you’ll need to keep at least the $2,500 minimum balance to avoid the $10 Minimum Balance Fee.
For a great Money Market rate, take a look at CIT Bank’s offering. BBVA Compass also has great ongoing Money Market rates with their ClearChoice Money Market Account.
- MYSB Direct (M.Y. Safra Bank) Online CD Rate Offers, Promotions
- Sallie Mae Banking Promotions: Money Market, Savings, CD Offers
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Capital One 360 Promotions: $100, $500, $600, Up To $1,000 In Bonuses
- EBSB Direct Promotions For Money Market And CD Accounts (Nationwide)
- ableBanking Money Market Savings & CD Promotions
- First Internet Bank Review: Checking, Savings, CD Promotions
- Northern Bank Direct Online Money Market & CD Account Offers, Promotions
- State Bank Of Texas Savings, Money Market, CD Account Promotions
- BBVA Compass Bank Promotions: $150, $200, $250 Checking/Savings Bonuses
- My Banking Direct Promotions: New Money Market & CD Account Offers
Discover Bank’s IRA Rates Beats Your Local Bank
Terms start as low as 3 months and you can Rollover or Transfer from other retirement account types and other financial institutions.
We update these rates daily, but always get up to date rates directly from Discover.
Here are the current rates:
| Term | APY |
| 10 Years | 2.95% |
| 7 Years | 2.90% |
| 5 Years | 2.85% |
| 4 Years | 2.60% |
| 3 Years | 2.55% |
| 30 Months | 2.50% |
| 24 Months | 2.50% |
| 18 Months | 2.45% |
| 12 Months | 2.40% |
| 9 Months | 0.70% |
| 6 Months | 0.65% |
| 3 Months | 0.35% |
Find all the best sign-up bank bonuses here, including those from Chase Bank, TD Bank, CIT Bank, HSBC, etc.
- Chase Total Checking Account Bonus: $200 Coupon Available Online
- Chase Premier Plus Checking℠ Bonus: $300 Coupon Offer
- Chase Coupon Promo Codes: $200, $300, $350, $500 – August 2018
- Chase Bank Business Checking Promotion: $200 Sign-Up Cash Bonus
- Simple Bank Review & Bonus Offer: Unlimited $20 Referrals
- Chase Student Checking Promotions: $100 Chase College Checking℠ Bonus
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- HSBC Bank $350 & $750 Checking Account Bonuses
- TD Bank Promotions: $300 & $150 Checking Account Bonuses
- BBVA Compass Bank Promotions: $150, $200, $250 Checking/Savings Bonuses
Check back here for updates on Discover Bank offers and promotions.
