$150 or $200 Discover Savings Bonus

Discover Savings Bonus Updates

Update on December 15, 2022 – Discover has extended its Savings Bonus till 03/15/2023. All other details remain the same. Discover Bank has increased the APY to 3.30% for its Savings Account. 

Discover Bank

Discover is offering a $150 or $200 Savings bonus when you open their Online Savings Account using the offer code – GOBP323 and deposit either $15,000 or $25,000 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 Bonus Summary

Bonus – $150 or $200

Account – Discover Online Savings

Deposit – $15,000 or $25,000 within 30 days

Availability – Nationwide

Offer Code – GOBP323

Offer Expiry – March 15, 2023

Account Fees – None

Link for the Offer

Savings Bonus Requirements

1. Open a new account using the offer code – GOBP323
2. Within 30 days of account opening, deposit $15,000 for $150 bonus and $25,000 for $200 bonus
3. Bonus is paid within 30 days of fulfilling the requirements.  

BonusCoach’s List of Best Bank Account Bonus

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

1. To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code GOBP323 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 $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
2. 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.
3. Offer ends 03/15/23, 11:59 PM ET. Offer may be modified or withdrawn without notice.

Final Thoughts

Discover Savings bonus is a decent bonus and seems to be comparable to other current savings account promotions. They seem to offer 3.30% APY which is what more neo-banks are offering even for their checking account. Discover Online Savings account has no fees and we like that. 

They also have alternative offer which is better but only valid till December 30. They are offering $150 bonus for $15,000 deposit and $500 bonus for $50,000 deposit. If you have bigger sum to deposit, we recommend to take advantage of alternative offer.