Get a $750 Welcome Deposit for eligible new customers who open an 
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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.
Offer code: NPBC1118
- $150/$200 bonus offers expire 12/03/2018
- 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
*Another offer code is NV18, which can be found at this offer page.
How To Get The $150 Or $200 Bonus
- Apply for your first Discover Online Savings Account by 12/03/18, online or by phone.
- Enter Offer Code NPBC1118 when applying.
- 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 12/17/18.
- 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- Offer may be modified/withdrawn without notice.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: 1.90% 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.
- MySavingsDirect Hield Yield Savings And CD Account Promotions
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Chase Coupon Promo Codes: $200, $300, $350, $500 – November 2018
- Simple Bank Review: Unlimited $20 Bonuses & Top Savings Rate Offer
- Online HSBC Direct Savings Rate Offer: 2.01% APY (Available Nationwide)
- Citizens Access Online Savings And CD Accounts Offers, Promotions
- PurePoint Financial Online Savings & CD Accounts Promotions, Bonuses
- CIBC U.S. Bank Offer: $200 Checking Bonus [IL, MI, MO, WI Residents]
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 3.10% 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 | 3.10% |
| 7 Years | 3.05% |
| 5 Years | 3.00% |
| 4 Years | 2.75% |
| 3 Years | 2.70% |
| 30 Months | 2.65% |
| 24 Months | 2.65% |
| 18 Months | 2.60% |
| 12 Months | 2.60% |
| 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.
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Live Oak Bank Online Savings And CD Offers, Promotions
- Virtual Bank Checking, Money Market, CD Promotions & Offers
- Popular Direct Online Savings And CD Account Promotions, Offers
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- Synchrony Bank Online Savings, CD, Money Market Promotions
- Salem Five Bank Checking, Savings, CD Promotions
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Crestmark Bank Online CD Account Promotions Available Nationwide
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 |
| 1.75% APY | 1.80% 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.
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- MYSB Direct (M.Y. Safra Bank) Online CD Rate Offers, Promotions
- EBSB Direct Promotions For Savings, Money Market, CD Accounts (Nationwide)
- Capital One 360 Promotions: $100, $200, Up To $1,000 In Bonuses
- Sallie Mae Banking Promotions: Money Market, Savings, CD Offers
- ableBanking Money Market Savings & CD Promotions
- First Internet Bank Review: Checking, Savings, CD Promotions
- Northern Bank Direct Online Money Market & CD Account Offers, Promotions
- My Banking Direct Promotions: New Money Market & CD Account Offers
- State Bank Of Texas Savings, Money Market, CD Account Promotions
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 | 3.10% |
| 7 Years | 3.05% |
| 5 Years | 3.00% |
| 4 Years | 2.75% |
| 3 Years | 2.70% |
| 30 Months | 2.65% |
| 24 Months | 2.65% |
| 18 Months | 2.60% |
| 12 Months | 2.60% |
| 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, Simple Bank, etc.
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- TD Bank Promotions: $300 & $150 Checking Account Bonuses
- HSBC Bank $350 & $750 Checking Account Bonuses
- Chase Student Checking Promotions: $100 Chase College Checking℠ Bonus
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Chase Coupon Promo Codes: $200, $300, $350, $500 – November 2018
- HSBC Bank Advance Checking Account $350 Bonus Offer
- HSBC Bank Premier Checking Account $750 Bonus Offer
- Simple Bank Review: Unlimited $20 Bonuses & Top Savings Rate Offer
- Chase Premier Plus Checking℠ Bonus: $300 Coupon Offer
- Chase Total Checking Account Bonus: $200 Coupon Available Online
- Chase Bank Business Checking Promotion: $200 Sign-Up Cash Bonus
Check back here for updates on Discover Bank offers and promotions.
*These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.