Editor’s note, May 1, 2020: The bonus offer detailed on this page is no longer available through NerdWallet. See our Discover review for more on Discover’s account offerings. Read about other banks’ bonus offers in our roundup of this month’s best bonuses and promotions.
The Discover savings 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.
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.|
|How to get it||First-time savings customers can open a Discover Online Savings Account using offer code NW420. Deposit at least $15,000 for a $150 bonus, or $25,000 for $200.|
|Where to open||Online or by phone.|
|How to qualify||You cannot have previously opened a Discover savings account, or any savings account that is co-branded or is an affinity account provided by Discover.|
|Account monthly fee||$0.|
|Account APY||1.01% (the current national average is just 0.06%).|
» Curious about Discover’s checking account and other services? Read NerdWallet’s full Discover Bank review.
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.