Online Savings Account
Open an AccountWe make it easy to save more for what matters
No monthly fees
No minimum opening deposit
No monthly balance requirements
100% US-based customer service available 24/7
FDIC-insured
Maximum savings with minimum hassle
See how our high-yield Online Savings Account rate stacks up.
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Discover Online Savings Account |
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Chase Chase Savings |
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PNC Bank Standard Savings |
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Bank of America Advantage Savings |
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Ally Bank Online Savings Account |
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Citibank Citi Savings - Access Account |
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Wells Fargo Way2Save Savings |
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U.S. Bank Bank Smartly® Savings Account |
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Capital One 360 Performance Savings |
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Marcus Online Savings Account |
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Annual percentage yield |
X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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X.XX%
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Interest compounded/paid |
Daily/Monthly | Monthly/Monthly | Monthly/Monthly | Monthly/Monthly | Daily/Statement Period | Daily/Monthly | Daily/Monthly | Daily/Quarterly | Monthly/Monthly | Daily/Monthly |
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Monthly fee |
$0 | $5 | $5 | $8 | $0 | $4.50 | $5 | $4 | $0 | $0 |
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Insufficient funds fee |
$0 | $34 | $36 | $0 | $0 | $0 | $35 | $36 | No | $0 |
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Minimum opening deposit |
$0 | $0 | $0 | $100 | $0 | $0 | $25 | $25 | $0 | $0 |
No. Fees. Period.
You'll never pay fees for the following:
- Monthly maintenance
- Official bank check
- Excessive withdrawals
- Expedited delivery for official bank checks
- Deposited item returned
- Stop payment order
- Insufficient funds
- Account closure
Add a little fuel to your future
Savings FAQ
View Savings FAQ
How do I open a Discover Online Savings Account?
Click here to open an account online. Additionally, you can call our U.S.-based Banking Specialists 24/7 at 1-800-347-7000 to open an account over the phone.
What is the minimum deposit amount to open my Online Savings Account?
There is no minimum deposit to open a Discover Online Savings Account.
How is interest on my Online Savings Account calculated?
Interest is compounded daily and credited to your account monthly.
Is the Online Savings Account FDIC-insured?
Funds in Discover deposit accounts are FDIC-insured up to the maximum amount allowed by law. For more information, visit our FDIC information page.
Does my savings account provide the option to enroll in overdraft protection?
Yes, your savings account is eligible for enrollment in our overdraft protection service. Click here for more information about overdraft protection.
Opening a high-yield Online Savings Account couldn’t be simpler
- Give us a few basics (like address and Social Security Number), and we’ll get the ball rolling.
- Make a deposit now or come back and do it later. Whatever works for you.
- Check your email for a confirmation, and you’re on your way to making your financial goals a reality.
Need help?
We've got your back.
Our friendly customer service team is available 24/7.
1 (800) 347-7000 Click here to Call us at
Save with confidence—you’re FDIC-insured
- FDIC deposit insurance is up to $250,000 per depositor, per insured bank, per deposit ownership category
- May apply to retirement accounts
- Coverage is automatic
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