Deal has ended, view more bank account bonuses by clicking here.
Update 8/31/25: $500 bonus (previously required $50,000) is now $400 (requires $45,000). Hat tip to reader Papas
Update 5/25/25: The $500 version is back with $50,000 deposit (enter Offer Code BONUS525D2). Also available the $150/$200 version with $15k/$25k (enter Offer Code SAVE325W3). Link for $150/$500 (valid through 6/11/25) and link for $150/$200 (valid through 1/30/26).
Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: Deposit $15,000 for $150 bonus, or $25,000 for $200 bonus
- APY: 3.60%
- Initial Deposit: None
- Hard/soft pull: Soft
- ChexSystems: No for Online Savings
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None mentioned
- Expiration date: Open by
06/15/2023 1/30/26 - Insured: FDIC
Contents
The Offer
Direct link to offer | $400 link | new link
- Apply for your first Discover Online Savings Account, AND
- Enter offer code BONUS825D2 when applying, AND
- Deposit a total of at least $15,000 into your account within 30 days to earn a $150 Bonus, OR
Deposit a total of at least $25,000 into your account within 30 days to earn a $200 Bonus.- Deposit at least $45,000 within 45 days of account open date to earn a $400 bonus
- According to this datapoint cumulative deposits will work, YMMV as always. Lots of DP suggesting this works now.
The Fine Print
- 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 (this bit is new)
- Account must be open when bonus is credited.
- Bonus will be credited to the account by 11/4/19.
- Bonus is considered interest and will be reported on IRS Form 1099-INT.
- Offer may be modified/withdrawn.
Avoiding Fees
Discover’s Online Savings Account does not have any fees, nor any minimum balance requirement. You can withdraw any funds you wish after fulfilling the $25,000 (or $15,000) deposit requirement.
Early Termination Fee
There is no mention of an early termination fee according to the Online Savings Account Guide. You must, at minimum, leave the account open until the bonus posts, or November 30, 2017.
Our Verdict
The deposit requirement increasing to $25,000 shouldn’t matter too much as it looks like cumulative deposits work anyway. The best part of this deal is that there is no deposit minimum length so you should be able to deposit the (or $15,000) and then immediately withdraw it. In the past the bonus has posted 5–15 days after the deposited has been received but recently it has been taking much longer. A lot of people like these Discover bonuses because they also offer a decent APY (0.40% currently), although there are better APYs available. This is one of the best savings account bonuses currently available.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
Deal History
Quick note: The bonus usually isn’t extended as such, but a new deal with a new promotion code comes along and we just use the verbiage ‘extended’. Obviously no guarantee they will continue to do so.
- Update 3/17/25: Extended to 9/11/2025 with code NW325
