The Discover savings bonus could land you $150 or $200.

You’ll have to open a new account with the bank and deposit at least $15,000. That’s steep, but the online bank also offers some of the best savings rates on the market.

Here is a closer look at how to qualify for the Discover sign-up bonus.

Discover savings bonus

What you’ll get $150 or $200.
Expiration date April 1, 2019.
How to get it First-time savings customers can open a Discover Online Savings Account using offer code NW319 by April 1, 2019. Deposit at least $15,000 by April 15, 2019, for a $150 bonus, or $25,000 for $200.
Where to open Online or by phone.
How to qualify You cannot have previously opened a Discover savings account, or any savings account that is co-branded or is an affinity account provided by Discover.
When you’ll get it You’ll get your bonus by April 29, 2019.
Account monthly fee $0.
Account APY 2.10% (the current national average is just 0.10%).

See how other banks compare

This is how Discover’s savings offer stacks up to two checking bonuses. Browse our list of this month’s best bank promotions for more options.

» Curious about Discover’s checking account and other services? Read NerdWallet’s full Discover Bank review.

The verdict

Generally speaking, savings bonuses, high annual percentage yields and low fees are rare. But Discover’s savings account can get you all three.

If you’re looking to sign up for a new savings account and want to score some free cash in the process, Discover could be a great fit.

» For other strong savings options, check out NerdWallet’s best high-yield online savings accounts.

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