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#1 in Customer Satisfaction. No Fees.

Discover

 

4.25% APY   |   Online Savings Account

Member FDIC


 VC copyOverview by Vi Conn. Updated April 12, 2024

Boost_Bottom_LineThe Bottom Line

Discover has great customer service and a fast, easy application that allows you to track your progress.

SAVINGS ACCOUNT FEATURES

Minimum starting deposit
$0 - Must fund within 45 days to remain open
Minimum balance to avoid fees
$0
Minimum balance to obtain APY
$0
Compounding interest
Daily, credited monthly
Ability to add co-applicant
Yes
Withdrawal options
Electronic funds transfer (EFT), check payable to account holder, or wire transfer (fee)
Deposit options
Electronic funds transfer (EFT), check (mailed or mobile)
Branch access
No
Boost_Pro_TipBoost Pro Tip

Discover was voted #1 in Customer Satisfaction by JD Power for Direct Bank Savings Accounts. If you need assistance along the way, Discover makes the whole process easy - even providing a phone number to answer any upfront questions before you begin. 

Here’s what you’ll need handy when opening a Discover Online Savings Account:

  • Social Security Number (for tax purposes only, it won’t impact your credit score)

  • Bank Account login for transferring funds

It only takes 3 minutes and you can do it right on your phone. Questions include:

  • Contact Info (Name, Primary address, Email address, Phone)

  • Mother's Maiden Name

  • Date of Birth and Citizenship (simply choose the country)

  Plus select the best choice from the provided options for:
  • Occupation

  • Annual Household Income range

  • Where will money for deposits to this account come from? 

  • Do you plan to use this account to send or receive money internationally? 

 All Boost partners offer FDIC insurance up to the maximum allowed by federal law.

Product terms and the application experience are based on the Discover website as of April 12, 2024 and may have changed. Be sure to verify all terms and conditions with Discover prior to applying.

Advertising Disclosure: If you open a savings account with one of our partners, we sometimes get a commission. We are deeply committed to only recommending reputable companies and work hard to present a concise list of competitive offers. This means all financial institutions or products are not represented here. It's important to compare interest rates, fees, minimum balance requirements, and other terms and conditions across different financial institutions to choose a high-yield savings account that aligns with your financial goals and preferences.