As of December 2025, the Discover savings bonuses of $150 or $200 are no longer available. At this time, Discover has no active bonuses.
Discover bonuses at a glance
Discover is a mostly online bank. It really shines with its credit card offerings and cashback match program on its select credit cards, but it also has low-fee checking and savings accounts. However, it doesn’t currently have a lot of bank account bonuses or promotions. There is one Discover savings bonus that requires a code and is for first-time savings customers only — but it was tricky to find and requires a high deposit to earn.
The Discover® Online Savings Account bonus used to be best option by default since it was the only one — but we wouldn’t call it an easy bonus to earn. It required depositing at least $15,000 to earn $150 or $25,000 to earn $200 within 45 days of account opening. Compared to the best bonus offers in the market, Discover’s savings bonus wasn’t what we’d call competitive.
How to qualify for Discover Online Savings account deposit bonus
It’s unlikely that you’ll locate Discover’s savings account bonus directly through its site. We could only locate the now-expired bonus information through a paid advertisement with a Google search. Discover required a unique code that varied depending on where you got it from at application, and to meet the deposit requirements to earn the bonus.
You must have been a new Discover savings customer to qualify for the savings bonus. Discover’s bonus terms and disclosures stated you must be a new “savings” customer, leading us to believe that even if you have a Discover credit card or checking account, but you’ve never had its savings account, you could have still qualified for the savings account bonus.
The savings bonus offer ended September 11, 2025, and Discover deposited the $150 or $200 bonus into your account within 60 days after meeting requirements.
Capital One and Discover merge
Discover has been acquired by Capital One. The acquisition was completed on May 18, 2025. The two banks are now under the same company, Capital One, N.A.
Not much has changed yet, and if there are any changes to your existing Cap One or Discover accounts the bank will contact you. While Cap One sorts things out, here’s what we know:
If you have both Discover and Capital One deposit accounts, they are now jointly insured. CDs with either banks will remain separately insured until their maturity date after November 18, 2025.
You can no longer do credit card balance transfers between Discover and Capital One.
Capital One is switching its debit card network over to the Discover card network. When you request a new card as a Cap One customer, you’ll get new card details.
Compare more bank account bonuses
Discover’s savings bonus has a high deposit requirement for a relatively small payout. However, its savings account does offer a high APY with no monthly fees, so even without the bonus, it’s still a decent savings option. Discover’s savings account has a high 3.40% APY, which is much higher than the national average rate of
0.40% for savings accounts, as reported by the FDIC.(1)
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Frequently asked questions
Are there banks with immediate signup bonuses?
Most bank account bonuses have requirements to earn them, so you’re unlikely to find an account that just gives you cash for opening the account. Most welcome bonuses require you to set up direct deposit or deposit a specific amount to earn bonus cash. Bonuses aren’t typically delivered immediately, either, as most banks deliver the bonus 30 to 90 days after you’ve met the bonus requirements.
What is the Discover cashback debit $360 bonus?
The Discover cashback debit card bonus isn’t so much of a bonus itself. The $360 is the limit you can earn each year through the Discover® Cashback Debit Account. You earn 1% cash back on up to $3,000 each month, which equates to earning up to $360 in cash back per year.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
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