Discover Bank

Deposit Rates APY Vs.Others
Savings 1.05% 1.40% →
1-Year CD 1.01% 1.15% →
2-Year CD 1.10% 1.26% →
3-Year CD 1.15% 1.26% →
4-Year CD 1.15% 1.31% →
5-Year CD 1.20% 1.60% →

2020 Overview

General Online Bank Information

Money that you deposit is held by Discover Bank. Discover Bank is an FDIC insured institution founded in 1911. It has approximately $112.38 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Discover Bank
FDIC Certificate # 5649
Date Established 1911
Assets $112.38 billion
Loans $92.51 billion
Deposits $75.23 billion
Capital $11.3 billion

For a more detailed analysis of Discover Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 5, 2020

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
1.05% $0 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
3 Mo CD
0.35% $2,500 - Learn More
6 Mo CD
0.65% $2,500 - Learn More
12 Mo CD
1.01% $2,500 - Learn More
18 Mo CD
1.05% $2,500 - Learn More
24 Mo CD
1.10% $2,500 - Learn More
36 Mo CD
1.15% $2,500 - Learn More
48 Mo CD
1.15% $2,500 - Learn More
60 Mo CD
1.20% $2,500 - Learn More

Bank Offers

Discover Bank Lowers Online Savings Rate to 1.25% APY
May 14, 2020

Discover Bank has lowered its online savings rate from 1.40% APY to 1.25% APY this morning.

Discover Bank's Online Savings Rate is Now 1.15% APY
May 26, 2020

Discover Bank's online savings rate is now 1.15% APY.

Customer Reviews for Discover Bank

  • May 03, 2020

    Online Savings Rates

    I opened a Discover account on April 6, 2020. Deposit accepted on 10th of April. Four days after deposit, $200 bonus was credited to my account. Only issue, the dividend rate dropped from 1.5% to 1.4%, but with what's going in the world, I guess it should have been expected. Anyway, so far so good.

  • April 13, 2020 |

    Online CDs 12 Month Rates

    i have had cds at Discover Bank for 6 or 7 years. I can almost always find a little better rate but in the end the reason I stay at Discover is the phone is answered within the first 3 or 4 rings EVERY time i have called for all those years and the individual who answers IS the IRA specialist who takes care of my need then and there. never have i been put on hold or transferred to someone else.

  • September 23, 2019 |

    I have had CDs with Discover Bank for 10 yrs. I have used mail, phone and email to work out new investments and cashing in of CDs with no difficulty. While you don't get the pleasure of face-to-face service that you get from a local credit union or small bank, I found investing with them easy and fast

  • March 21, 2018 |

    Online Savings Rates

    Application for savings account left in limbo for a week. Told that bank was not permitted to communicate either by email or phone to inform customer of need for additional document !!!
    Not logical or confidence inspiring.

  • October 22, 2017 |

    Just opened a savings account with Discover. Great customer service. Not the highest rates but very competitive. I have had no issues. They make opening an account simple. If you enter a transfer on Tuesday it will not be available until Monday of following week. This is not a problem for me. I don't put money in a savings that I need right away. That is what checking accounts are for. I highly recommend Discover.

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