Discover Savings Bonus 2016
This offer is now expired.
Discover Bank is offering a $100 bonus for signing up for their online savings account. I personally received this offer in the mail, however I do not believe that it is targeted. Let’s take a look and see if it is worth pursuing.
$100 bonus when you open a new account with at least $15,000. (THE OFFER IS NOW EXPIRED)
- Open by 7/29/16.
- Fund by 8/12/16.
- Offer not valid for existing or prior Discover savings customers.
- Account must be open when bonus is credited.
- Bonus will be credited by 9/12/16.
- Bonus is considered interest and will be reported on IRS form 1099-INT.
Right off the top I should mention that Discover has had a similar bonus in the past with only a $5K deposit requirement. In fact, I opened an account last year with such an offer. With that said, considering you only need to park the $15K in the account for 30 days, this is still a very good deal if you only keep the money in the account for the minimum required time.
If you have a limited amount of funds and/or aren’t eligible for this deal, then don’t forget about the Chase $200 savings bonus which requires a $15,000 deposit as well. That bonus requires the funds stay in the account for 3 months, although the bonus is double. Either way, bonuses like these which only require a deposit and no other hoops are my favorites.
If you have never had a Discover Savings account before and are looking for a way to put your liquid money to work, this new Discover Savings Bonus 2016 may be the right deal for you. You may be able to hold out for a deal with a lesser deposit requirement, but of course there is no guarantee of that. While I won’t be able to participate, I believe my wife is going to sign-up. Happy saving!