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Discover Bank Lowers Savings Account Rates
 

Discover Bank Lowers Savings Account Rates

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Discover Bank, the banking arm of the credit card company Discover, has recently lowered the savings rate the bank pays on their online savings account. The current Discover Bank savings rate is 1.09% with a savings yield of 1.10%. This is down from a savings account rate of 1.14% with a savings account yield of 1.15%.

Although Discover has lowered the rate they still have one of the highest savings account rates available right now. We first wrote about about Discover's savings account rates back in October '09 when the rate was 1.84% and again in August '10 when Discover Bank's online savings account rate was 1.34%.

Find the best savings account rates by searching our rate list here: Best Savings Account Rates.

Discover Bank's CD rates on 12 month certificates of deposit are slightly higher at 1.19% with a CD yield of 1.20%. That rate is one of the best CD rates available right now.

Discover Bank's website makes opening an online savings account or certificate of deposit account very easy and quick. For more information about features and a list of current interest rates go to discoverbank.com.
Author: Stacy Everest
August 8th, 2011