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Discover Bank Savings Account Rates

Discover Bank Savings Account Rates

Discover Bank, the banking division of the credit card company Discover, is still offering one of the best online savings account rates available right now. Discover Bank's savings account rates are currently at 1.09% with a savings yield of 1.10%. That rate is almost 8x the current national average savings account rate of 0.14% as reported by the FDIC.

Find a list of the highest savings account rates by searching our rate list here: HIGHEST SAVINGS ACCOUNT RATES.

When we first reported on Discover Bank's savings account ratesback in 2009 their rates was 1.98% with a savings yield of 2.00%. Back then Discover's savings rate was well about the national average rate and higher than most savings rates at banks.

Discover Bank recently lowered some of their CD rates including their 12 month CD rate. The new 12 month bank CD rates are at 1.14% with a bank CD yield of 1.15%. Still one of the highest CD rates available and well above the national average 1 year rate of 0.41%.

Other banks offering online savings account rates well above the national average rate include Ally Bank. Current online savings account rates at Ally Bank are offered at 0.99% with an online savings account yield of 0.99%.

Author: James Martin
August 25th, 2011