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Discover Online Savings Account Review: Savings Accounts |
| Sign up for Discover Online Savings Account | |
Rating: |
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| Good choice with comparable APY; has opening deposit requirement but $0 minimum balance | |
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Discover Online Savings Account is brought to you by Discover, one of the most popular credit cards in the US. It has been a BankRate.com Top Tier Winner for consistently high yields, as well as being rated "Safe & Sound".
Discover Online Savings Account features a 0.80% APY, and requires a minimum $500 initial deposit to open. However, after you open the account no minimum balance is required and there are no monthly fees. Interest is compounded on a daily basis and credited to your account on a monthly basis. Like most online savings accounts, with Discover Online Savings you can make 6 free withdrawals per month. These withdrawals occur via pre-authorized transfers to another online bank account, or by wire transfer. Overall, we found Discover Online Savings Account to be a good choice for those who enjoy the flexibility of a $0 minimum balance combined with a better-than-average APY. Sign up for Discover Online Savings Account | Compare to Other Savings Accounts |
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| APY: | 0.80% |
| Monthly Fees: | None |
| Minimum Balance to Maintain: | $0 |
| Minimum to Open Account: | $500 |
| Maximum Withdrawals Per Month: | 6 |
| Deposit and Withdrawal Methods: | Electronic transfer, wire, check |
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