Discover High Yield Savings: $150 or $200 Bonus Offer for December 2024
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Earn up to $200 bonus by opening a Discover® Online Savings Account. Find out how to qualify with the correct bonus.
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Discover® has more than just credit cards. It also offers solid bank accounts with good interest rates. Plus it's one of CreditDonkey's highest rated banks.
Now, you can earn even more when you open your first Discover® Online Savings Account. Take advantage of the code below to get an extra boost toward your savings.
Discover Savings Bonus: Earn $150 or $200
With some of the best interest rates available, the Discover Online Savings Account is a great way to grow your money.
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
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What is Discover Paying on Savings Account?
Tired of your savings not doing anything? There's a better way to grow your savings. Discover Online Savings Account is a high-yield savings account that pays 3.75% APY. This helps you grow your money faster.
Here are just a few of the benefits you usually won't find at a traditional bank:
- Earn 3.75% APY (over 5x the national average)
- $0 monthly fee
- $0 insufficient funds fee
- No minimum balance
- Interest compounded daily and paid monthly
- Simple-to-use mobile app
Savings Calculator
Is Discover Cash Bonus a Good Deal?
Discover Bank's savings bonus is a good deal, however you need a pretty hefty deposit to earn it. But if you already have that much saved anyway, you can make some extra cash by switching your savings to Discover.
Plus, Discover's savings account has no monthly fees and a competitive APY. While the APY may not be as high as some other online savings accounts, the cash bonus will more than make up for that.
Overall, if you already have the savings, it's smart to take advantage of the offer and boost your savings.
Requirements to Open a Discover Online Savings Account
Opening an online savings account is simple. All you have to do is:
- Fill out the application with basic info like your name, address, and SSN
- Enter the promo code in order to get your bonus
- Fund your account
There's no minimum balance and no minimum deposit to open your account. But if you want to get the cash bonus, you have to deposit the required amount within 45 days of account open date.
Is Discover® savings account a good bank?Yes, Discover is FDIC insured (FDIC Cert #5649). This means that if Discover defaults, the federal government guarantees the balance in your savings account, up to $250,000.
How to Deposit Money
Once your account is set up, there are a couple ways to deposit money into your account:
- Deposit a check using the mobile app
- Make an online transfer from a Discover® Bank account or other bank account
- Set up direct deposit
- Mail a check made payable to you with a deposit slip or your account number on the memo line to:
Discover Bank
PO Box 30417
Salt Lake City, UT 84130
Because Discover® Bank is online only, there are no physical branches for you to deposit cash. If you frequently use cash, it may be better to choose a bank with branches near you.
How to Withdraw Money
It's also easy to withdraw money from your Online Savings Account:
- Online transfer to another bank account
- Domestic wire transfer
- International wire transfer
- Request an official bank check
Discover® Bank Offers
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 3.75% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking - Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Certificate of Deposit
- 4.00% APY for 12-month term
- 3.80% APY for 18-month term
- 3.40% APY for 36-month term
- 3.40% APY for 5-year term
Money Market Account
- Earn 3.60% APY for balances under $100,000
- Earn 3.65% APY for balances $100,000 and over
Discover® CD Rates
- No minimum opening deposit required
- No fees
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Months | 2.00% APY |
| 6 Months | 3.70% APY |
| 9 Months | 3.80% APY |
| 1 Year | 4.00% APY |
| 1.5 Years | 3.80% APY |
| 2 Years | 3.50% APY |
| 2.5 Years | 3.40% APY |
| 3 Years | 3.40% APY |
| 4 Years | 3.40% APY |
| 5 Years | 3.40% APY |
| 7 Years | 3.40% APY |
| 10 Years | 3.40% APY |
IRA Certificate of Deposit
- 4.00% APY for 12-month term
- 3.40% APY for 36-month term
- 3.40% APY for 5-year term
Discover® savings account bonus will be credited to the account within 60 days of the account qualifying for the bonus.
Other Bank Offers You Might Like
High-Yield Savings Premier - 4.46% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
CIT Bank Platinum Savings - 4.55% APY
- 4.55% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
High Yield Savings Account - 4.43% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
Bottom Line
An extra $150 or $200 is a great way to break in your savings account.
And with Discover Bank, you won't have to worry about annoying maintenance fees, overdraft fees, or rock-bottom interest rates.
Open an account today for a more efficient way to save for your future.
Or check out some of the top current bank promotions for more options.
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
U.S. Bank Smartly® Checking - Up to $450 Bonus
Earn up to $450 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposits(s) totaling $2,000 to $4,999.99 to earn $250, $5,000 to $7,999.99 to earn $350 or $8,000 or more to earn $450.
Fund your new account within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.
CIT Bank Platinum Savings - 4.55% APY
- 4.55% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
Donna Tang is a content associate at CreditDonkey, a bank comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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