physixfan 2018-04-04 2018-04-04

Savings Accounts

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Discover Savings Account Review

2018.4 Update: The offer deadline is postponed again, and the new deadline is 2018.04.30. The new offer code is S418.

2018.3 Update: The offer deadline is postponed again, and the new deadline is 2018.04.02. The new offer code is S318.

2017.12 Update: The $150/$200 bonus deadline is postponed again, and the new deadline is 2018.02.28.

2017.11 Update: The $150/$200 bonus is here again, and the new expiration date is 2017.12.18. Note that the requirement for the $200 bonus has been changed from $20k deposit to $25k. The AAA and AAII version savings accounts don’t seem to have the same offer. HT: reddit.

Contents

Application Link

Features

  1. New account opening bonus of $150/$200! See below for detailed requirements. Apply before 2018.04.30, and deposit at least $15,000/$25,000 before 2018.05.14.
  2. $0 monthly fee.
  3. No early termination fee, you can close the account whenever you want.
  4. You cannot use a credit card to fund the initial deposit.
  5. Interest rate (APY): 1.50% now, but keep in mind the APY changes frequently.
  6. You can transfer out up to six times per month, $15 surcharges thereafter.

Bonus Requirements

  1. This bonus is only available for new clients of Discover Savings Account. Those who are already have or used to have a Discover Savings Account are not eligible for the bonus offer. Those with just a Discover Checking Account or a Discover credit card are still eligible.
  2. Three different Discover Savings accounts are considered to be different product, so you can get all of the bonus!
  3. You’ll have to deposit at least $15,000/$25,000 of “new money” before 2018.01.02. “New money” means the money does not come from any of your other Discover accounts. The official website does not tell you how many days you need to keep these in your account, but I suggest you keep it until you receive the bonus.

How to Avoid the Monthly Maintenance Fee

  1. There is no monthly maintenance fee.

Summary

The usual bonus for Discover Savings Account is $100, and now the $150/$200 offer is the highest ever. So if you have the money to float you should take advantage of it now. This account has no monthly fee, and has a relatively high interest rate among those savings accounts, so it is a good account to keep in the long term.

Related Bank Accounts

According to data points, these three different Discover Savings accounts are considered to be different product, so you can get all of the bonus!

Historical Offers Chart

Application Link

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