Discover Savings Bonus: $150 or $200 Promotion
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You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this 2021 Discover Bank promotion.
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Discover has more than just credit cards. It also offers solid bank accounts with good interest rates. Plus it's one of CreditDonkey's highest rated banks.
Now, you can earn even more when you open your first Discover Online Savings Account. Take advantage of the code below to get an extra boost toward your savings.
Discover Savings Bonus: Earn $150 or $200
With some of the best interest rates available, the Discover Online Savings Account is a great way to grow your money.
Here's what you need to get their latest cash promotion:
| Bonus Amount | $150 or $200 |
|---|---|
| How to Get It | Use code CY21 to open the account. Deposit $15,000 for a $150 bonus, or $25,000 for a $200 bonus. |
| How to Qualify | Deposit must be made within 30 days of opening your account. Must be your first Discover Online Savings Account. |
| Where to Open | Online or by phone at 1-800-347-7000 |
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY21 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY21 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
What is the Discover Online Savings Account?
Tired of monthly fees eating into your savings? There's a better way to grow your savings.
The Discover Online Savings Account is a high-yield savings account that helps you grow your money faster. Here are just a few of the benefits you usually won't find at a traditional bank:
- Earn 0.40% APY (over 5x the national average)
- $0 monthly fee
- $0 insufficient funds fee
- No minimum balance
- Interest compounded daily and paid monthly
- Simple-to-use mobile app
What You Need to Open a Discover Online Savings Account
Opening an online savings account is simple. All you have to do is:
- Fill out the application with basic info like your name, address, and SSN
- Choose your account type
- Designate beneficiaries (optional)
- Fund the account (optional)
- Set up your login info
There's no minimum balance and no minimum deposit to open your account. But if you want to get the cash bonus, you have to deposit the required amount within 30 days of opening.
How to Deposit Money
Once your account is set up, there are a couple ways to deposit money into your account:
- Deposit a check using the mobile app
- Make an online transfer from a Discover Bank Account or other bank account
- Set up direct deposit
- Mail a check made payable to you with a deposit slip or your account number on the memo line to:
Discover Bank
PO Box 30417
Salt Lake City, UT 84130
Because Discover Bank is online only, there are no physical branches for you to deposit cash. If you frequently use cash, it may be better to choose a bank with branches near you.
How to Withdraw Money
It's also easy to withdraw money from your Online Savings Account:
- Online transfer to another bank account
- Domestic wire transfer
- International wire transfer
- Request an official bank check
If you make more than six withdrawals or transfers, the bank may refuse to pay the excess transactions. They may even close your account if you frequently go over the limit.
Discover Bank Offers for 2021
Online Savings Account - Earn 0.40% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month
- No fees
- Access to over 60,000 no-fee ATMs in the U.S.
Certificate of Deposit
- 0.55% APY for 12-month term
- 0.75% APY for 36-month term
- 1.00% APY for 5-year term
Money Market Account
- Earn 0.30% APY for balances under $100,000
- Earn 0.35% APY for balances $100,000 and over
Discover CD Rates
- $2,500 minimum opening deposit
- No fees
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Months | 0.20% APY |
| 6 Months | 0.25% APY |
| 9 Months | 0.30% APY |
| 1 Year | 0.55% APY |
| 1.5 Years | 0.60% APY |
| 2 Years | 0.65% APY |
| 2.5 Years | 0.70% APY |
| 3 Years | 0.75% APY |
| 4 Years | 0.80% APY |
| 5 Years | 1.00% APY |
| 7 Years | 1.00% APY |
| 10 Years | 1.00% APY |
IRA Certificate of Deposit
- 0.55% APY for 12-month term
- 0.75% APY for 36-month term
- 1.00% APY for 5-year term
Discover Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Checking has no minimum balance requirement, no fees, and free online bill pay.
Other Bank Offers You Might Like
Online Savings Account - 0.50% APY
$0 minimum opening deposit. No minimum balance requirement. No fees to open or maintain account.
360 Performance Savings - 0.40% APY
- 0.40% APY
- $0 opening minimum
- No monthly service fee
- No minimum balance requirement
CIT Savings Builder - 0.40% APY
Earn up to 0.40% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC
High Yield Savings
- 0.61% APY on balance < $25,000
- 0.25% APY on balance $25K-$100K
- 0.15% APY on balance > $100K
- No monthly maintenance fees
- No minimum balance requirements
- $250 minimum opening deposit
- Free Incoming Wires
- Zero minimum balance requirement
High Yield Savings - 0.55% APY
- 0.55% APY
- $100 minimum opening deposit
- No monthly service fees
Bottom Line
An extra $150 or $200 is a great way to break in your savings account.
And with Discover Bank, you won't have to worry about annoying maintenance fees, overdraft fees, or rock-bottom interest rates.
Open an account today for a more efficient way to save for your future.
Or check out some of the top current bank promotions for more options.
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY21 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Chase Total Checking® - $225 Bonus
- New Chase checking customers enjoy a $225 bonus when you open a new Chase Total Checking® account and set up direct deposit
- Access to 16,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Overdraft Services - no fee if you're overdrawn by $50 or less at the end of the business day*
- *We charge a $34 Insufficient Funds Fee per item during our nightly processing beginning with the first item that overdraws your account balance by more than $50 (maximum of 3 fees per business day, up to $102).
Citi Priority Account - Up to $1,500 Cash Bonus
- Earn up to $1,500 cash bonus when you open a new account with required activities
- Open a new eligible checking account in the Citi Priority Account during the offer period 10/5/21-1/4/22
- Within 20 days of opening, deposit $50,000 in New-To Citibank funds between the new checking and savings accounts
- Maintain a minimum balance of $50,000 in the checking account for an additional 60 consecutive calendar days from the 21st day
- After all required activities are met, the cash bonus will be deposited to your account within 90 calendar days
CIT Bank Money Market Account - 0.45% APY
- 0.45% APY
- $100 minimum opening deposit
- No monthly maintenance fee
HSBC Premier Checking - $450 Welcome Deposit
- Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
- Open your new HSBC Premier checking account online by January 5, 2022; and
- Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
- You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
- Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
Donna Tang is the head of purpose and audience at CreditDonkey, a bank comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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