Discover Bank Save 216B
- Sign-up online through designated offer page
- Compare savings to other major banks
- Saving calculator to help customers visualize their goals
Individuals searching for a better way to save may have just found what they have been looking for with the Discover Bank Save 216B offer. For a limited time new account holders will receive a succulent sign-up bonus when opening a new savings account with Discover Bank. In order to receive the sign-up bonus customers will need to enter the Offer Code found on the mailing they received with the Discover Bank Save 216B offer when opening an account.
Discover Versus Other Major Banks
- Annual Percentage Yield – Discover Bank offers an astounding APY of 0.95% compared to the 0.01% APY offered by Chase, Citibank, and Bank of America savings accounts
- Minimum Opening Deposit – Customers that open an account with Discover will have to come to the table with more cash than with other banks ($25 with Chase and BOA and $100 with Citibank)
- Monthly Fees – Discover Bank customers will not have to worry about pesky monthly fees as there are none ($5 monthly fee with Chase and BOA and $4.50 monthly fee with Citibank)
- Minimum Balance Required to Wave Monthly Fee – N/A with Discover Bank ($300 minimum daily balance required with Chase and BOA and $500 monthly average balance required with Citibank)
- Interest Compounded/Paid – Discover, Citibank, and BOA compound interest daily and pay monthly while Chase compounds interest monthly and pays monthly
- Annual Interest Earned on $5,000 Balance – Discover Bank customers will earn an eye-popping $47.73 compared to $0.50 with Chase, Bank of America, and Citibank
Prior to signing-up customers may want to take a look towards the bottom of the Discover Bank Save 216B offer page to find the Savings Calculator. When using this slick tool customers can enter a starting amount, the amount they can afford to save each month, and the total amount they are hoping to save in order to get a clear visualization of how their savings add up.
Customers that need to reach Discover can write to 2500 Lake Cook Rd, Riverwoods, IL 60015 or call 224-405-0900.