GOBankingRates Score
Discover High Yield Online Savings Accounts
4.7
Score
- APY
- commission
- benefits
- ease of use
how did you calculate this?
Strong Points
- 3.30% APY
- No minimum fees or commissions
- Can be used as overdraft protection
Cons
- Limit of 6 transactions per statement duration
Get an overview of High Yield Online Savings Accounts
The Discover High Yield Online Savings Account is a standard savings account that pays very competitive interest rates.it pays APY is much higher than many domestic brick-and-mortar banks. You can find slightly higher rates elsewhere, but some of the banks that offer them don’t have as broad a product suite as Discover.
Main function
Some of the key features of the Discover High Yield Online Savings account are listed below.
commission
There is no monthly maintenance fee for the Discover High Yield Online Savings Account, which is common with High Yield Savings Accounts. However, with a Discover account, we also do not charge fees for bank checks, blocked payment orders, returned deposited items, insufficient funds, or excessive withdrawals. Plus, you can use your savings account as overdraft protection for your Discover checking account. There is no charge for this either.
APY
Paying from your Discover High Yield Online Savings Account APY is a very good interest rate, especially for accounts with no minimum balance requirements or fees.
Privilege
Interest rates are the biggest perk of this account, but there are others. Get access to the Discover app, including mobile check deposit, online bill payment, and more. You can use overdraft protection from your savings account to use it in your checking account and vice versa.
ease of use
Discover High Yield Online Savings accounts are easy to use online and in the app. Discover is an online-only banking service provider, so you can’t set foot in a branch, but you can do everything you want on the website or app. In addition, Discover offers other banking products such as checking accounts, credit cards, and loans, so you can do all your banking in one place if you want.
Discover High Yield Online Savings Account Features
Discover High Yield Online Savings offers high interest rates that stand out from many other accounts. No monthly maintenance fee. There are also no fees for bank checks, overdrafts, etc. It’s also part of the Discover family of financial products, so you can do all your banking in one place.
Comparable High Yield Savings Account Option
When buying a high yield savings account, you should consider several options to ensure you get the right account for your needs. Here are some other high yield savings account options to consider:
Salem 5 Direct eOne Discount
so APY, Salem 5 Direct’s eOne savings account is a worthy competitor with no minimum balance and no maintenance fees. We also do not offer credit cards or loans, but do offer savings/checking accounts.
UFB Direct High Yield Savings Account
Payments from UFB Direct High Yield Savings Accounts APY, no fees or minimums. However, UFB does not offer checking accounts, so you will need to have another bank as well.
How to apply
You can open your Discover High Yield Online Savings account online or by calling Discover Customer Service at 800-347-7000. We require personal information such as your name, address, social security number, and email address. If you’re sending money from another account, you’ll need that account’s information.
Who is Discover High Yield Online Savings Account Best For?
The Discover High Yield Online Savings account is a good choice if you are looking for high interest rates without fees. It’s also great if you want to keep all your accounts in one place.
final take
Discover High Yield Online Savings Accounts are ideal if you want to earn guaranteed interest rates on your deposits. You can also have your checking account, credit card, and investment account with the same bank.
Frequently Asked Questions About High Yield Savings Accounts
When looking for a high yield savings account, the question arises. Below are answers to frequently asked questions about Discover’s high yield online savings account.
- Does Discover have a high yield savings account?
- yes.Paying from your Discover High Yield Online Savings Account 3.30% APY applies to any balance and there are no minimum balance requirements or fees.
- Which bank has the most high yield savings?
- Interest rates fluctuate all the time, making it difficult to pinpoint the highest interest rate at any given time. One of the best for sure is APY’s Discover High Yield Online Savings account which is super competitive. 3.30%.
- Is it worth having a high-yield savings account?
- Choosing the right high yield savings account can make a big difference.earn income 3.30% APY — for Discover High Yield Online Savings accounts — is guaranteed, which is a huge benefit. You can easily access your money when you need it and earn a good income at the same time.
- Do Discover checks have APY?
- Discover checking accounts pay no interest, while Discover High Yield Online Savings accounts do 3.30% APY. Since you can open both accounts and transfer money between them, you can earn high interest rates on the money you are not using.
Prices are subject to change. Prices are updated periodically unless otherwise stated. All other information regarding your account is accurate as of January 30, 2023.
Editorial note: This content was not provided by the organizations featured in this article. The opinions, analyses, reviews, ratings, or recommendations expressed in this article are those of the authors only and have been reviewed, endorsed, or otherwise endorsed by the bodies named in this article. Not a thing.
