Discover Online Savings Account $200 Bonus

Discover Bank : Online Savings Account

Bonus Amount
up to $200
Account Type
Personal Savings
Available In Your Area?
Yes
Offer Expires In
Bonus Requirements
  1. Open a new Discover Online Savings Account using the link below.
  2. By December 15, deposit $15,000 to earn $150 or $25,000 to earn $200.
  3. Bonus will be credited to your account within 30 days of qualifying for the bonus.
Other Details
Hard Credit Pull?
Monthly Fees?
Open Online?
Save for later
Share with a friend

Discover Bank is offering up to $200 for opening a new 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, so you can deposit and withdraw immediately. 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 $200 bonus. Full requirements to receive this bonus are:

  1. Open a new Discover Online Savings Account using the link below.
  2. By December 15, deposit $15,000 to earn $150 or $25,000 to earn $200.
  3. Bonus will be credited to your account within 30 days of qualifying for the bonus.

The fine print

  • 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.
  • Account must be open when bonus is credited.

Why Discover Bank?

Discover Bank 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.

Online Savings Account

Discover's 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 Cashback Debit account to have your rewards automatically deposited to your savings account in a set it and forget it fashion.

Fees

Online Savings Account does not charge a monthly fee.