Discover – one of our top picks for online banks – is currently 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:
- Open a new Discover Online Savings Account using promo code "BP222" at the link below.
- Within 30 days, deposit $15,000 to earn $150 or $25,000 to earn $200.
- Bonus will be credited to your account within 30 days of qualifying for the bonus.
Open an Online Savings Account before the bonus expires on June 15, 2022
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.
How does this 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:
TD Bank
Personal Savings Account
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 157 days
- Requires
- Min Balance
Alliant
Ultimate Opportunity Savings Account
- Bonus
- $100
- Account Type
- Personal Savings
- Expires In
- 218 days
- Requires
- Min Balance
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.
Learn more in our Discover Bank review
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.