Discover Savings Bonus: $150 or $200 Promotion

The Discover® Online Savings Account bonus requires making a large deposit, but you’ll earn one of the best rates available.
Tony Armstrong
By Tony Armstrong 
Edited by Sara Clarke
Discover Savings Bonus: $150 or $200 Promotion

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Editor's note, March 1, 2024: Discover® Bank's savings bonuses are no longer available. This page will be updated when a new offer is available. See our list of best bank account bonuses for other options.

The Discover® Online Savings Account bonus could land you $150 or $200.

Discover® Online Savings
NerdWallet rating 

You'll have to open an account with the bank and deposit at least $15,000. That's steep, but the online bank also offers some of the best savings rates on the market. The bank offers a high-quality online experience, too.

Here is a closer look at how to qualify for the Discover sign-up bonus.

Discover savings bonus

What you'll get

$150 or $200.

Where to open

Online, by phone or on the Discover app.

How to qualify

You cannot be an existing or prior Discover savings customer or existing or prior customer with savings accounts that are co-branded, or affinity accounts provided by Discover.

Account monthly fee


Account APY

4.25% (the current national average is just 0.46%).

Expiration date

Offer expired on March 1, 2024.

» Curious about Discover's checking account and other services? Read NerdWallet's full Discover® Bank review.

The verdict: Are Discover savings bonuses worth it?

Generally speaking, savings bonuses, high annual percentage yields and low fees are rare. But Discover's savings account can get you all three.

If you're looking to sign up for a new savings account and want to score some free cash in the process, Discover could be a great fit. However, the deposit requirements to earn the Discover bonus are quite hefty. Other banks offer bonuses of the same or even greater amounts, and have smaller minimum deposit requirements. See our roundup of the best bank bonuses to compare.

» For other strong savings options, check out NerdWallet's best high-yield online savings accounts.

Check out more from Discover

On a similar note...

Find a better savings account

See NerdWallet's picks for the best high-yield online savings accounts.

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.