Discover Bank

Headquarters

502 E Market St
Greenwood, DE 19950
See all branch locations →

ACH 031100649

Notable Rates	APY	Vs.Others
Savings	N.A.	5.50% →
1-Year CD	N.A.	4.65% →
2-Year CD	N.A.	4.25% →
5-Year CD	N.A.	4.05% →
30-Year Mortgage	N.A.	4.91% →
15-Year Mortgage	N.A.	4.39% →
HELOC	N.A.	0.99% →

Reviewed by Discover Bank Account Owner | January 7, 2023 | | Replies 1

Comparing other online banks including Ally, Discover has never let me down.

Having accounts with them for 12 plus years, and being a AAA member, I get five basis points more interest over the published rates.

I wish Discover would allow users to be able to scan checks with their home computer and upload the deposits like Ally Bank does.

But over all, they get a 4.5 out of 5 in my humble view. Another plus is that ALL their customer service is based in the United States or Canada.

Overview
Deposit Rates
Loan Rates
Branches
Climate
Financial Details
FAQs
Articles
Reviews

2024 Overview

General Bank Information

Discover Bank is an FDIC insured institution located in Greenwood, DE. It was founded in 1911 and has approximately $148.66 billion in assets. Customers can open an account at one of its 2 branches.


FDIC Insured	Yes
FDIC Certificate	# 5649
Date Established	1911
Assets	$ 148.66 billion
Loans	$ 119.17 billion
Deposits	$ 112.08 billion
Capital	$ 14.49 billion

For a more detailed analysis of Discover Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 22, 2024

Your Current Location: Ohio, OH 43085

Online Only Savings Rates of Discover Bank

Online Savings Rates	APY	MIN	MAX
Online Savings Account	3.90%	$0	-	Learn More Reviews

Online Only CD Rates of Discover Bank

Online CD Rates	APY	MIN	MAX
3 Month CD	2.00%	$2,500	-	Learn More Reviews
6 Month CD	3.90%	$2,500	-	Learn More Reviews
9 Month CD	3.80%	$2,500	-	Learn More Reviews
12 Month CD	4.10%	$2,500	-	Learn More Reviews
18 Month CD	3.80%	$2,500	-	Learn More Reviews
24 Month CD	3.60%	$2,500	-	Learn More Reviews
36 Month CD	3.50%	$2,500	-	Learn More Reviews
48 Month CD	3.40%	$2,500	-	Learn More Reviews
60 Month CD	3.40%	$2,500	-	Learn More Reviews

Bank Online Offers

Discover Bank Lowers Online Savings Rate to 1.25% APY

May 14, 2020

Discover Bank has lowered its online savings rate from 1.40% APY to 1.25% APY this morning.

Discover Bank's Online Savings Rate is Now 1.15% APY

May 26, 2020

Discover Bank's online savings rate is now 1.15% APY.

Discover Bank Raises Its Online Savings Account Rate to 4.15% APY

Jun 22, 2023

Discover has raised its OSA to 4.15% APY this morning from 4.00%.

Discover Bank Raises Its Online 1-Year CD Rate to 5.00% APY

Sep 21, 2023

See and compare all online one-year CD rates here.

Discover Bank's Online 1-Year CD Rate is Now 5.20% APY

Oct 31, 2023

Discover recenrtly raised their 1-year CD rate from 5.00% to 5.20% APY

Loan Rates - December 22, 2024

Your Current Location: Ohio, OH 43085

There are currently no loan rates available for Discover Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Ohio 30 Year Fixed Mortgage Rates 2024

Lender	APR	Rate (%)	Monthly Payment	Learn More
NMLS ID: 1025894	6.863%	6.750% 1.00 points $3,705 fees	$2,076	Learn More
NMLS ID: 2592312 License#: RM.805266.000	6.879%	6.750% 1.00 points $4,432 fees	$2,076	Learn More
NMLS ID: 3030	7.325%	7.250% 0.75 points $2,400 fees	$2,183	Learn More
NMLS ID: 1907		points fees		Learn More

See More Mortgage Rates →

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender	APR (%)^?	Monthly Payment^?	Learn More
Third Federal Savings and Loan See Table	Intro APR 7.240 % After Intro: 7.240 %	$0	Learn More More Info
Conditions… Variable APR of Prime minus 1.01% in all states. Min loan amount $10,000. Max loan amount $200,000. 30-year term. Annual fee waived for the first year. See conditions for guarantee at thirdfederal.com. Third Federal rate are typically 20% lower than other leaders Guaranteed Lowest Rate No closing costs, prepayment penalties, or minimum draw requirements 10 year draw period
Rate See Table	Intro APR 7.900 % After Intro: 7.900 %	$25,000	Learn More More Info
A Guaranteed Rate HELOC is secured with your home as collateral, whereas personal loans and credit cards are not. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing. Guaranteed Rate Home Equity Line is an open-end product where the full loan amount (minus lender, broker, third party, and governement fees, as applicable) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw. Apply in 5 minutes, get your money in as fast as 5 days. Digital application experience. Funds directly to your bank account. No in-person appraisal needed.

See More Home Equity Rates →

Note to Discover Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Discover Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Columbus,Ohio

Discover Bank Locations around zip code 43085

Branch	Distance	Map	View Lobby Hours
New Castle Administrative Office	392.14	A	View Lobby Hours
Discover Bank	400.90	B	View Lobby Hours

View Branches Nationwide →

Climate Policy and Initiatives

Discover Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Add Your Review

or use your BestCashCow account

Financial Details

Discover Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Discover Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio

Discover Bank	U.S. Bank Average
9.56%	4.48%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2024, Discover Bank had $2,196,792,000 in non-current loans and $198,000 in owned real estate. To cover these potential losses it had $14,488,387,000 in equity and $8,481,000,000 in loans loss reserves. That gives it a Texas Ratio of 9.56%.

Return on Equity

Discover Bank	U.S. Bank Average
28.4%	10.46%

Discover Bank has a Return on Equity of 28.4% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization

Discover Bank	U.S. Bank Average
9.75%	10.84%

Discover Bank has a Capitalization of 9.75% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Discover Bank Balance Sheet Analysis

As of June 30, 2024, Discover Bank had assets of $148,660,049,000, loans of $119,170,668,000, and deposits of $112,081,206,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2024

ASSETS
Cash & Balances due from depository institutions	$ 10.57 billion
Interest-bearing balances	$ 8.76 billion
Total securities	$ 13.54 billion
Federal funds sold and reverse repurchase	N.A.
Net loans and leases	$ 119.17 billion
Loan loss allowance	$ 8.48 billion
Trading account assets	N.A.
Bank premises and fixed assets	N.A.
Other real estate owned	$ 0.20 million
Goodwill and other intangibles	N.A.
All other assets	$ 3.28 billion
Total Assets	$ 134.17 billion

LIABILITIES
Total deposits	$ 112.08 billion
Interest-bearing deposits	$ 110.35 billion
Deposits held in domestic offices	$ 112.08 billion
% insured (estimated)	93.62%
Federal funds purchased and repurchase agreements	N.A.
Trading liabilities	N.A.
Other borrowed funds	$ 16.25 billion
Subordinated debt	$ 1,739.66 million
All other liabilities	$ 3.91 billion
Total Liabilities	$ 134.17 billion
Shareholders’ Equity	$ 14.49 billion

Summary Income Statement

June 30, 2024

INCOME AND EXPENSES
Total Interest Income	$ 10.23 billion
Total Interest Expense	$ 2.84 billion
Net interest income	$ 7.39 billion
Provision for loan and lease losses	$ 2.24 billion
Total non interest income	$ 668.07 million
Total non interest expense	$ 3.34 billion
Pre-tax Net Operating Income	$ 3.07 billion

Bank Loan Profile^?

The top three loan types in Discover Bank’s loan portfolio are Credit Card Loans, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Discover Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

	% Loans	% Comparison to Other Banks
		Low	Med	High
1-4 Family Residential Loans	2.34		✓
Multifamily Mortgages	0.00	✓
Credit Card Loans	66.35		✓
Consumer Auto Loans	0.00	✓
Small Business Loans	0.00	✓
Construction and Development Loans	0.00	✓
Commercial Real Estate	0.00	✓
Commercial and Industrial Loans	0.14		✓
Farm Loans	0.00	✓

Discover Bank Articles

Banks Paying Above Average Savings Account Rates

View all articles with Discover Bank →

Customer Reviews for Discover Bank (2)

Discover Bank Account Owner

January 7, 2023 | | Replies 1

Comparing other online banks including Ally, Discover has never let me down.

Having accounts with them for 12 plus years, and being a AAA member, I get five basis points more interest over the published rates.

I wish Discover would allow users to be able to scan checks with their home computer and upload the deposits like Ally Bank does.

But over all, they get a 4.5 out of 5 in my humble view. Another plus is that ALL their customer service is based in the United States or Canada.

Is this review helpful? Yes:3 / No: 0

Kitty41 | Apr 24, 2023

I have both ally and discover and discover does allow you to take a picture of a check and upload it to discover.