Discover Bank Promotions: $150/$200 Savings Bonus & $360 Cashback Debit for March 27, 2020

Discover Savings BonusFind the latest Discover Bank promotions, offers, and bonuses for March 27, 2020 here.

Their typical amount for their Online Savings are $150 or $200 bonus. Debit Cashback account gets you $360 cash back.

Discover Bank has a range of accounts including Online Savings, Checking, Money Market, CD, and IRA accounts. Member FDIC.

About Discover Bank Promotions

Headquartered in Greenwood, Delaware, Discover Bank is an online-only bank with no retail branches. They can offer better rates by operating their banking services online due to little overhead. Their line of deposit accounts include Savings, Checking, Money Market, CD, and IRA CD accounts.

Discover even has IRAs and CDs with terms of up to to 10 years, as well as Money Market account all with competitive APY rates. Be sure to search of the best bank promotions from the internet’s most updated list, then compare rates with all the best listed on our Savings Rates Page and CD Rates Page.

I’ll review current Discover Bank offers below.

TOP DISCOVER BANK PROMOTIONS
*Find all Discover Bank Promotions here*
PROMOTIONAL LINK OFFER REVIEW
Discover Bank Online Savings $200 Cash Review
Discover Bank Online Savings $150 Cash Review
Discover Bank CD Up to 1.80% APY Review
Discover Bank Money Market Up to 1.40% APY Review
Discover Bank IRA CD Up to 1.80% APY Review


Discover Online Savings $200/$150 Bonus 

Discover Bank Bonuses

Earn $150 or $200 bonus from Discover Bank

Earn $200 Bonus with $25,000 minimum deposit from Discover Bank. Make sure to utilize the promo code HMB320 when you open an account to see the $200 promotion terms. Your savings account has no monthly minimum balance requirement!

  • Account Type: Discover Online Savings
  • Availability: Online, Nationwide
  • Expiration: 4/6/2020
  • Credit Inquiry: Soft Pull via ChexSystems
  • Opening Deposit: $0
  • Credit Card Funding: None
  • Direct Deposit Requirement: None
  • Monthly Service Fee: None
  • Closing Account Fee: None

One of my first bank bonuses, Discover Online Savings is known for its online convenience and high interest yields. They provide a safe and secure way to save money each month.

As with any online bank, Discover is able to avoid overhead costs of a physical branch, thus saving money and offering you a higher savings rate. This is simply one of the best Discover Bank promotions!

(See Advertiser for full details)

How To Earn The $200/$150 Bonus

HOW TO EARN BONUSACCOUNT FEATURESWAIVE THE MONTHLY FEEFINE PRINT
  • Apply for your first Discover Online Savings Account.
  • Enter Offer Code HMB320 when applying.
    • Fund your first savings account with a minimum of $25K by 4/20/2020 to earn the $200 bonus
    • Fund your first savings account with a minimum of $15K by 4/20/2020 to earn the $150 bonus
  • Maximum bonus eligibility is $200. See advertiser website for full details
  • Earn high interest rate of 1.50% APY
  • No minimum opening deposit, no minimum balance requirement, and no monthly fees
  • Interest on Discover Online Savings Accounts is compounded daily and credited monthly
  • Manage your account online or with the Discover mobile app
  • FDIC insurance up to $250,000
  • There are no monthly service fee for this account.
  • Offer not valid for existing or prior Discover savings customers.
  • Account must be open when bonus is credited.
  • Bonus is considered interest and will be reported on IRS Form 1099-INT.
  • Offer may be modified/withdrawn without notice.

Discover Certificate of Deposit 1.80% APY Rate

Discover Bank CD

Earn up to 1.80% APY for CD

Discover Bank offers Certificates of Deposit (CD) accounts with some of the highest rates. Depends on the length of the term, you can earn up to 10 years with 1.80% APY.

In order to open a CD, you need a minimum deposit is $2,500 and the interest rates have been consistently competitive with terms as short as 3 months to 120 months long.

CD Term APY Rate
3-Month Term 0.35% APY
6-Month Term 0.65% APY
9-Month Term 0.70% APY
12-Month Term 1.75% APY
18-Month Term 1.75% APY
24-Month Term 1.75% APY
30-Month Term 1.75% APY
3-Year Term 1.80% APY
4-Year Term 1.80% APY
5-Year Term 1.80% APY
7-Year Term 1.80% APY
10-Year Term 1.80% APY

(FDIC Insured)

Interest rate from traditional Savings account can change the next day, however CDs rate can be guaranteed for the length of the term for risk-free income.

CDs features include high interest rates, 24/7 Live Customer Service, Online Account Management, and FDIC Deposit Insurance up to $250,000 per individual account holder (FDIC certificate 5649).


Discover IRA CD 1.80% APY Rate

If you are thinking about retirement, consider getting a Discover Bank IRA CD account to earn a guaranteed rate to offset your risk for the future. Discover’s 10-year IRA CD is currently earning an incredible rate of 1.80% APY. This is much higher than any savings account I have seen and could be quite a good investment in the long run.

With Discover Bank, you can choose an IRA term as low as 3 months or as long as 10 years. They also provide 24/7 phone service so you can always call them if you have any further questions!

IRA CD Term APY Rate
3-Month Term 0.35% APY
6-Month Term 0.65% APY
9-Month Term 0.70% APY
12-Month Term 1.75% APY
18-Month Term 1.75% APY
24-Month Term 1.75% APY
30-Month Term 1.75% APY
3-Year Term 1.80% APY
4-Year Term 1.80% APY
5-Year Term 1.80% APY
7-Year Term 1.80% APY
10-Year Term 1.80% APY

(FDIC Insured)


Discover Money Market Up to 1.40% APY Rate

Discover Money Market

Discover Bank’s Money Market account offers 1.35% APY rate on balances up to $99,999. Those with a balance $100K and higher, you’ll earn 1.40% APY with easy cash access via ATM, debit, or check. There is no hidden fees and get access to over 60,000 free ATMs.

Discover Bank provides great APY rates so you can earn more money with many free features transfer money, withdraw money, deposit money, view your daily activity, or pay bills in just a few steps online or on your mobile phone.

(FDIC Insured)

See our review on the Discover Money Market account.

Should You Open a Discover Bank Account?

We consider Discover Bank to be the top online bank in the country. These Discover bank promotions have a nice deposit bonus along with some of the highest interest rates on savings products.


Discover Cashback Debit $360 Yearly

Earn 1% cash back for up to $3,000 each month on debit card purchases with a Discover Cashback Debit account. That’s up to $360 Debit Card Cashback per year. Enjoy many perks such as no monthly fees or balance requirements and access to +60,000 free ATMs.

  • Account Type: Discover Cashback Debit
  • Availability: Online, Nationwide
  • Credit Inquiry: Soft pull, which does not affect your credit
  • Monthly Fees: None

(No Expiration Date Listed)

Another great Discover Bank promotion is the Discover Cashback Checking account. I use the free checking account myself which allows me to earn up to $360 a year in cash back bonuses.

How To Earn $360 Yearly Cash Back

HOW TO EARN BONUSACCOUNT FEATURESWAIVE THE MONTHLY FEEFINE PRINT
  • Access to over 60,000 free ATMs in the U.S. (uses the Allpoint network; the largest ATM network big online banks use)
  • Earn 1% cash back on up to $3,000 in debit card purchases each month
  • Free Online Bill Pay (standard with most banks)
  • Free Check Reorder (good perk; most banks charge for re-orders)
  • No Cost for Replacement Debit Card (standard with most banks)
  • Free Official Bank Check (standard with most banks)
  • No Cost for Expedited Delivery for your Replacement Debit Card (good perk; some banks charge for this)
  • Free Outbound ACH Transfers (standard with most banks)
  • Free Incoming Wire (good perk; most traditional banks charge for this)
  • No monthly fees or monthly balance requirements (standard with online banks; traditional banks usually have monthly maintenance fees)
  • ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards.
  • Purchases made using third-party payment accounts (services such as Venmo® and PayPal™, who also provide P2P payments) may not be eligible for cash back rewards.
  • Account must be open at the time the rewards are applied. Offer may be modified or withdrawn without notice.
See our review on the Discover Cashback Checking account.

Discover Monthly Fees

Discover recently eliminated many of their fees– pretty much no fees at all.

Cashback Checking:

  • No monthly service fee
  • No ATM fee at over 60,000 ATMs in the US
  • Zero fee for online bill pay
  • No fee for check order
  • No fee for replacement debit card
  • Zero fee for official bank check
  • No fee for outbound ACH transfers
  • No fee for deposited item returned
  • Zero fee for incoming wire
  • No fee for stop payment
  • No insufficient funds fee

Online Savings:

  • No fee monthly service fee
  • No fee for official bank check & expedited delivery
  • Zero fee for deposited item returned
  • No fee for incoming wire
  • No fee for each excessive withdrawal
  • Zero fee for stop payment order
  • No fee insufficient funds fee

Money Market:

  • No fee for minimum balance fee
  • No fee for ATM fee at over 60,000 ATMs in the US
  • Zero fee for check order
  • No fee for replacement debit card
  • No fee for deposited item returned
  • Zero fee for incoming wire
  • No fee for each excessive withdrawal
  • No fee for stop payment
  • Zero fee for insufficient funds fee

Certificate of Deposits:

  • Zero monthly service fee
  • No fee for official bank check
  • No fee for incoming wire

Bottom Line

Definitely sign up for an online checking or savings account with no monthly fees or minimum balance requirements. Discover also has great CD accounts with outstanding % APY rates.

The Discover Online Savings and Debit Cashback checking are both recommended. A great way to earn some extra money on your cash balances for opening your first online savings account!

*Stay up to date by bookmarking this page for Discover bank promotions, bonuses, and offers!

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Family of third COVID-19 fatality asks public to remember the deceased by being socially responsible

The family of COVID-19’s third fatality in Singapore thanked fellow Singaporeans for their well wishes, following the news of the passing on Sunday (29 March). “We thank you for your well wishes. It is unfortunate that my dad has succumbed to Covid19, after his 30 days of battle in SGH. Our 70 year old dad […]

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As of 29 March 2020, 12pm, the Ministry of Health (MOH) has confirmed and verified an additional 42 cases of COVID-19 infection in Singapore, of which 24 are imported and 18 are local cases who have no recent travel history abroad. This makes a total of 844 cases of confirmed COVID-19 infection in Singapore. The […]

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Coronavirus Sell-off: Should You Buy This Decimated Miner?

Question marks in a pile

Teck Resources Inc. (TSX:TECK.B)(NYSE:TECK) got crushed with practically every other stock in the sector over the past months. Slowing economic conditions have hit commodities hard. Teck is sitting at a price of just over $10 a share at the time of this writing, which is fairly low historically. 

  Is now a good time to buy Teck as a contrarian play?

The situation

Even before the coronavirus, Teck was the recipient of numerous bad news items. Apart from the general negativity surrounding the coronavirus and oil prices, Teck has also been stricken by some company-specific disappointments.

Before the market fell apart, Teck faced a lot of political issues and red tape on its Frontier oil sands mine. Just prior to the market crash, Teck pulled out of the project, as management wasn’t sure that it would ever come to fruition. This setback impacted the company’s shares, driving the price down substantially. 

However, there were even more issues facing the company prior to the general market collapse. It seems no one is talking about it at the moment, but a month ago everyone was focused on ESG investing. Teck, as a coal, oil sands, and copper miner is not viewed favourably by this new paradigm of investing.

The argument for investing

If you look at a long-term historical chart, buying Teck when it has fallen considerably has often proven to be a profitable choice. Many times, after purchasing shares lower than $5, they bounced back when market conditions improved. 

If there is more pain coming in future weeks or months, there might be a better time to enter the stock. The current price is not a historically excellent entry point, so it might be a good idea to wait. This is especially true if the global economy cools for a considerable length of time.

Another reason why you might want to buy the stock here is the dividend, albeit this company’s dividend isn’t massive. It currently sits at just under 2%, and there’s no reason to assume that the dividend will grow any time soon. Again, you will receive a much larger dividend if you wait for the stock to fall further.

The Foolish takeaway

Teck is a great company to own if you believe the global economy will emerge from the economic slump sooner rather than later. If you aren’t certain the economy will recover in short order, it might be a good idea to take a pass on Teck for the time being. While it’s certainly cheap, there might be a better entry point if things get even more painful in the coming weeks and months.

Personally, I think I might take a shot at the company at the $5 mark if it falls to that level. At that point, I will be receiving a dividend of around 4% and will be at a historic low point for the company. Of course, you can never rely on the dividend of a mining company.

Nevertheless, it would still be a bonus. Wait for more pain before getting into this stock and you may be glad you decided to hold off.

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Fool contributor Kris Knutson has no position in any of the stocks mentioned.

The post Coronavirus Sell-off: Should You Buy This Decimated Miner? appeared first on The Motley Fool Canada.

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