Discover Bank

logo for Discover Bank
Deposit Rates APY Vs.Others
Savings 4.00% 5.50% →
1-Year CD 4.10% 4.80% →
2-Year CD 3.60% 4.25% →
3-Year CD 3.50% 4.05% →
4-Year CD 3.40% 4.00% →
5-Year CD 3.40% 4.00% →

Reviewed by AVOID_ READ_CAREFULLY | January 10, 2024 |

Online Savings Rates

AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to our CELL PHONES, including FUTURE CELL PHONES, IMEI records, etc to use. This is a gross invasion of privacy. I called them closed the account immediately, before it was funded. I told them do not ever slip a key privacy invasion into an amendment of the final page of about 40 or so pages of technical jargon for the account agreement, because when word travels, I suspect this otherwise outstanding, friendly bank realize a major drop in customers. DO NOT BANK HERE UNLESS THEY CHANGE THIS DRACONIAN POLICY GRANTING THEM RECORDS TO YOUR CELL PHONE. If this has happened on April 1st, I would have though someone might be playing a prank. It is like Orwell's 1984. Disguised in a bank agreement. Again, AVOID THIS BANK. If you elect to proceed with an account, read EVERY LAST LINE of EACH PAGE. *My personal recommendation: Read it from the LAST PAGE to the FIRST PAGE.



Deposit Rates - November 21, 2024

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
4.00% $0 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
3 Month CD
2.00% $2,500 - Learn More
6 Month CD
3.90% $2,500 - Learn More
9 Month CD
4.00% $2,500 - Learn More
12 Month CD
4.10% $2,500 - Learn More
18 Month CD
3.80% $2,500 - Learn More
24 Month CD
3.60% $2,500 - Learn More
36 Month CD
3.50% $2,500 - Learn More
48 Month CD
3.40% $2,500 - Learn More
60 Month CD
3.40% $2,500 - Learn More

Bank 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

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




Climate Policy and Initiatives

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



Customer Reviews for Discover Bank


  • January 10, 2024 |

    Online Savings Rates

    AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to our CELL PHONES, including FUTURE CELL PHONES, IMEI records, etc to use. This is a gross invasion of privacy. I called them closed the account immediately, before it was funded. I told them do not ever slip a key privacy invasion into an amendment of the final page of about 40 or so pages of technical jargon for the account agreement, because when word travels, I suspect this otherwise outstanding, friendly bank realize a major drop in customers. DO NOT BANK HERE UNLESS THEY CHANGE THIS DRACONIAN POLICY GRANTING THEM RECORDS TO YOUR CELL PHONE. If this has happened on April 1st, I would have though someone might be playing a prank. It is like Orwell's 1984. Disguised in a bank agreement. Again, AVOID THIS BANK. If you elect to proceed with an account, read EVERY LAST LINE of EACH PAGE. *My personal recommendation: Read it from the LAST PAGE to the FIRST PAGE.

  • August 13, 2023 |

    Great online savings account and credit card. Great ach limits, good enough apy though not the highest, and good customer service.

  • September 14, 2020 |

    Online Savings Rates

    two thumbs up

  • May 3, 2020

    Online Savings Rates

    I opened a Discover account on April 6, 2020. Deposit accepted on 10th of April. Four days after deposit, $200 bonus was credited to my account. Only issue, the dividend rate dropped from 1.5% to 1.4%, but with what's going in the world, I guess it should have been expected. Anyway, so far so good.

  • April 13, 2020 |

    Online CDs 12 Month Rates

    i have had cds at Discover Bank for 6 or 7 years. I can almost always find a little better rate but in the end the reason I stay at Discover is the phone is answered within the first 3 or 4 rings EVERY time i have called for all those years and the individual who answers IS the IRA specialist who takes care of my need then and there. never have i been put on hold or transferred to someone else.


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