Update on December 30, 2022 – Offer has expired. Please use the alternative offer for $150 or $200 bonus for depositing $15,000 or $25,000 respectively. https://www.bonuscoach.com/banking/discover-savings-account-bonus/ . Savings account APY has now increased to 3.30%
Update on November 28, 2022 – Discover Bank is now offering $150 or $500 bonus using promo code BONUS1122D. Offer valid till 12/30/2022. Previous offer for $150 or $450 has now expired.
Discover is offering a $150 or $500 bonus when you open their Online Savings Account using the offer code – BONUS1122D and deposit either $15,000 or $50,000 respectively within 30 days of account opening. The offer is valid nationwide and valid online. This offer is available only for first-time savings customer.
Discover Savings Account has no fees- period! It is also currently offering 3.30% APY.
Discover Savings Account Bonus Summary
Bonus – $150 or $500
Account – Online Savings
Deposit – $15,000 or $50,000 within 30 days
Availability – Nationwide
Offer Code – BONUS1122D
Offer Expiry – Dec 30, 2023
Account Fees – None
Savings Bonus Requirements
- Open a new account using the offer code – BONUS1122D
- Within 30 days of account opening, deposit $15,000 for $150 bonus and $50,000 for $500 bonus
- Bonus is paid within 30 days of fulfilling the requirements.
Savings Account Fees | How to Avoid It?
There is no fees, whatsoever.
Early Account Termination Fees
There is no mention of early termination fees. We recommend to keep the account open for 180 days.
The Fine Print
- To get your $150 or $500 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code BONUS1122D when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $50,000 to earn a $500 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $500.
- What to know: 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 will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT.
- Offer ends 012/30/22, 11:59 PM ET. Offer may be modified or withdrawn without notice.
Discover Savings Account bonus is an excellent bonus and it better than the other savings account promotions currently being offered by competitors. They also offer 3.30% APY which is what more neo-banks are offering even for their checking account. The Discover Online Savings account has no fees and we like that.
They also have alternative offer with $150 bonus for $15,000 deposit and $200 bonus for $25,000 deposit. Needless to say this is a better bonus but if you do not have $50,000 to deposit, you can take advantage of alternative offer.