Discover – one of our top picks for online banks – is currently offering up to $200 for opening your first Online Savings account. You'll need to deposit $25,000 to earn the full amount, but $15,000 only results in a loss of $50.
One perk to this bonus is that Discover doesn't have a requirement for how long you need to keep the cash in the account; however, with Discover's interest rates still high, it makes a great place to stash some cash. Doesn't get much easier than that!
How To Earn The Bonus
The Discover® Online Savings Account promotion requires you to deposit and maintain a minimum balance in order to earn the up to $200 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Maximum bonus eligibility is $200.
- 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 is interest and subject to reporting on Form 1099-INT.
- Offer may be modified or withdrawn without notice.
Open a Discover® Online Savings Account before the bonus expires on March 13, 2025
How does this personal savings offer from Discover compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Barclays
Barclays Tiered Savings
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 11 days
- Requires
- Min Balance
Live Oak
Live Oak business savings
- Bonus
- $200
- Account Type
- Business Savings
- Expires In
- 18 days
- Requires
- Min Balance
TD Bank
Personal Savings Account
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 5 days
- Requires
- Min Balance
Why Discover Bank?
Discover® Bank, member FDIC, is an online bank operated by the American financial services company, Discover Financial Services.
With almost 50 million cardholders, Discover is the third-largest credit card issuer in the U.S. In 2000, Discover acquired the Greenwood Trust Company and rebranded it as Discover® Bank. While Discover is now fully an online bank, the company still owns and operates the original branch of The Greenwood Trust Company in Delaware, making it the bank’s only physical location.
Discover doesn't offer quite as many new customer incentives as some of the other big banks, but there's still free cash up for grabs. Plus, these bonuses are in addition to no monthly fees, high yields, and overall top-rated customer satisfaction.
Learn more in our Discover Bank review
Discover® Online Savings Account
The Discover® Online Savings Account has no monthly maintenance fees, and offers a competitive rate for a national bank. Interest on your savings pays monthly but is compounded daily, unlike a lot of their competitors.
It's otherwise a straightforward savings account. You'll have access to Discover's app and online banking tools, and you can link it to a Discover® Bank Cashback Debit Checking account to have your rewards automatically deposited to your savings account in a set it and forget it fashion.
Learn more in our Discover® Online Savings Account review
Fees
Discover® Online Savings Account does not charge a monthly maintenance fee.
Apply now for a Discover® Online Savings Account to earn the up to $200 bonus offer
Share Your Thoughts or Questions
There have been 15 comments about the Discover® Online Savings Account up to $200 Bonus.
Dawne
January 9Did this one and received the full 200. But...the one hiccup was I had two deposits coming from two separate banks within days of each other. One had 15k and the other had the remaining 10k. Discover only gave me the $150 bonus based on my first deposit. I did email them to ask what was up, since I met the parameters within 15 days of opening the account for the full offer of $200.
They did give me the remaining $50 but, they said the reason the full 200 wasn't done was something to do with the fact that I met the lower amount first.
Told them I thought that was weird since I deposited the full 25k amount, which was credited within 2 days of each other. So why not do the full 200 instead of piece meal?
That was my only stink with them. I had to wait an additional 15 days for them to credit the remaining amount.
I still prefer Ally's interface and website over Discover's.
Remains to be seen if I will partake of the Capital One 360 offer.
Reply to Dawne
Katherine Bowen
November 17, 2023One of the easiest bank bonuses I received. If you have the funds, all you have to do is transfer the funds to it! Easy app access as well.
ReplyReply to Katherine Bowen
JAMON
November 17, 2023I had a Discover account with a bonus earned many years ago...more than 10 years, I think. Apparently that precludes me from ever earning a bonus from Discover again...I even called them to confirm, and they did.
ReplyReply to JAMON
Tom
November 16, 2023One of the easiest bonuses I have ever done. I transferred the money to Discover and kept it there less than a month. I received the bonus credited to the account. This savings account is good to have, sometimes transfers from here will count as DD for other bonuses if you schedule the transfer as "recurring". I have done one-time transfers that work also. But I have had better luck scheduling as "recurring". If you do recurring transfers, don't forget to cancel them after you are done.
ReplyReply to Tom
Jake
November 16, 2023This bonus was very easy. I put the required $25,000 into the account and received $200 within 3 days. I have actually kept my money in this account for months now because the site is very user-friendly for deposits and withdrawals and I receive a healthy interest payment on the first business day of every month.
ReplyReply to Jake
S
November 15, 2023I've done this offer- super easy if you have enough funds. You don't need to hold the deposit with them for any particular length of time (like most other offers that require large deposits do), so if you have a better interest rate somewhere else, once you've deposited the funds and they've settled, you can transfer them again or spend them if you need to. Highly recommend this bank and bonus.
ReplyReply to S
CT
November 15, 2023I did this bonus offer, but for some reason the bonus did not apply. No prob! I called them and they were able to apply it manually. Take a screenshot so that you have proof should you need it. Thank you BankBonus!
ReplyReply to CT
Jon Snow
November 15, 2023This is an excellent savings bonus promotion. I really like the Discover mobile app too and their customer service is amazing.
ReplyReply to Jon Snow
kat
November 14, 2023There's so many offers, too little time. I'm hoping this one is still around when I can take advantage. I'm doing Bank of America, US Bank and PNC right now!
ReplyReply to kat
Lee
November 13, 2023Here again, BANKBONUS.com is my bonus money earning ROCKSTAR, for providing this bonus earning information about Discover's Online Savings Account $200 promotion. And again, more money, more money for my 2023 Christmas shopping spree.
ReplyReply to Lee
Wayne S
November 9, 2023I did the Discover bonus and it was easy. I opened the account online, with no hassle and deposited the needed funds. My bonus was in my account within 3 weeks. Easiest bonus I've ever earned
ReplyReply to Wayne S
Ankit Jain
November 3, 2023This is a one time opportunity and cannot be churned so you can keep the account open as it will help with the direct deposits in the future. Discover is fast and reliable in paying out the bonus but do keep a screenshot of when you input the code for future reference in case.
ReplyReply to Ankit Jain
Nicholas
November 8, 2023 Replying to Ankit JainYep, I closed this account in the past, and now I can't take advantage of both the new customer offers and the existing customer offers. If you do this bonus, be sure to leave the account open for future opportunities.
ReplyReply to Nicholas
Wayne
November 3, 2023I recommend you get this one. It also can be used as direct deposits to help qualify for other bonuses.
ReplyReply to Wayne
Louis
November 3, 2023I did the Discover Savings offer last year. It was probably one of the easiest offers I\'ve done. The bonus posted to the account within a couple days of meeting the deposit requirement. Withdrawing was easy, although they seemed to take 3 days to send an ACH.
ReplyReply to Louis
Add to the discussion