Best Savings Account Rates: Discover Bank Savings Account APY at 1.10%

Discover Bank which recently lowered the rate the bank pays on it's online savings account is still offering one of the highest online savings account rates available right now. Discover Bank's savings account rate is currently at 1.09% with a savings yield of 1.10%. Savings account rates at Discover Bank were recently lowered from 1.14% with an APY of 1.15%.

Compare the best savings account rates by searching our savings rates list here: Best Savings Account Rates. list of find a list of the best rates in your state or zip code: You can also find a list of the best CD rates here: best CD rates.

Discover Bank's new savings account rate is still more than 5 times the current national average rate of 0.202% as reported by

Opening an online savings account at Discover Bank is easy. The minimum opening deposit is $500. Interest earned on the savings account is compounded daily basis and credited monthly. The online savings account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. Discover Bank's FDIC Cert # is 5649.

Discover Bank also offers a money market account with a current money market rate of 1.00% with a money market yield of 1.00%. If you're interested in locking in a rate 1 year CD rates at Discover Bank are currently at 1.14% with a CD yield of 1.15%.

You can read more about Discover Bank's deposit accounts and open an online savings account here: Discover Online Savings Account Application.

Author: Brian McKay
August 26th, 2011