Discover Savings Bonus: $150 or $200 Promotion
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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.
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 | $0. |
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.
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