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Discover Savings Bonus: $150 or $200 Promotion

March 3, 2020
Banking, Banks & Credit Unions, Savings Accounts
Discover Savings Bonus: $150 or $200 Promotion
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The Discover savings bonus could land you $150 or $200.

Discover Bank

at Discover Bank,

Member, FDIC

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.

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

» Skip ahead to compare three banks’ bonuses.

Discover savings bonus

What you'll get$150 or $200.
Expiration dateApril 6, 2020.
How to get itFirst-time savings customers can open a Discover Online Savings Account using offer code NW320 by April 6, 2020. Deposit at least $15,000 by April 20, 2020, for a $150 bonus, or $25,000 for $200.
Where to openOnline or by phone.
How to qualifyYou cannot have previously opened a Discover savings account, or any savings account that is co-branded or is an affinity account provided by Discover.
When you'll get itYou’ll get your bonus by May 4, 2020.
Account monthly fee$0.
Account APY1.50% (the current national average is just 0.07%).

See how other banks compare

This is how Discover’s savings offer stacks up to two checking bonuses. Browse our list of this month’s best bank promotions for more options.


NerdWallet bank rating:


Learn more
at Chase Bank

NerdWallet bank rating:


at Discover Bank

NerdWallet bank rating:

at TD Bank

Chase Total Checking® Bonus

$200





Minimum qualifying deposit

$0





When you'll get it

Within 10 business days of first direct deposit
(Expires 7/20/2020)


Discover Savings Bonus

$200





Minimum qualifying deposit

$25,000





When you'll get it

By May 4, 2020
(Expires 4/6/2020)


TD Beyond Checking Bonus

$300





Minimum qualifying deposit

$2,500





When you'll get it

Within 14 weeks of account opening
(No expiration date listed)



Get more details on how to qualify for this bonus.
Get more details on how to qualify for this bonus.
Get more details on how to qualify for this bonus.

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

The verdict

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.

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

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