Discover has a new offer for their Online Savings account. You can receive a $100 bonus if you apply before 3/31/16. To receive the bonus, you must use Offer Code SAVE116 and make a minimum deposit of $15,000, which must be received by 4/15/16. This is similar to the previous offer from a few months ago, which only had a $5,000 requirement.
The good thing is that you only need to make a one time deposit of at least $15,000, but you do not have to keep the money in the account. Discover Online Savings account also offers a relatively decent 0.95% APY.
The bonus is limited to new savings customers only. Bonus will be issued within 30 days of funding of $15,000 as credit to the account, which must be open at issue. The bonus was deposited in my account 20 days after deposit, last time around. Bonus is considered interest and will be reported on IRS Form 1099-INT.
Minimum opening deposit amount is $500.
Besides the 0.95% APY, the Discover Online Savings account comes with no monthly maintenance of minimum balance fees.
- (Use Offer Code: Save116)
- Account Type: Online Savings
- Availability: Nationwide
- Expiration Date: 3/31/16
- Inquiry Type: Soft pull
- Opening Deposit Credit Card Funding: No
- Direct Deposit Requirement: No
- Other Requirements: $15,000 deposit (before 4/15/16)
- Monthly Fee: None
- Closing Account Fee: None
This is an easy bonus if you have the $15K to move around. It doesn’t have to be a direct deposit, just a simple ACH and there’s even reports that it doesn’t have to be just one $15K deposit but a total of $15K in deposits (safer with one 15K deposit IMO). The Discover Online Savings account comes with no monthly maintenance of minimum balance fees so you can take the money out right away.