Personal Savings
Discovery Bank understands the importance of planning for your future, and has developed the following products to help you reach your personal financial goals.
Features |
Discovery Personal Savings |
Discovery Personal Money Market |
Discovery Personal Star Money Market |
Minimum Opening Balance: |
$100 |
$500 |
$75,000 |
Monthly Service Fee |
$3 |
$10 |
$20 |
Minimum Balance Required to Waive Monthly Service Fee |
Daily balances of $100, average balances of $500, or combined balances of $5,000. |
Daily balances of $2,500, $3,000 average balances, or $5,000 in combined account balances. |
$75,000 minimum or average balance |
Interest Rates |
Account earns market interest rates on total collected balances on a tiered schedule. |
Market interest rates on total collected balances on a tiered schedule. |
Higher balance tiers may earn higher interest. |
Transaction Limitations |
Three pre-authorized automatic or telephone transfers per statement cycle. Unlimited over the counter withdrawals. |
Six transfers per statement cycle, pre-authorized, automatic transfer or by telephone. Three may be checks, draft, debit card or similar order, including POS. |
Six transfers per statement cycle, pre-authorized, automatic transfer or by telephone. Three may be checks, draft, debit card or similar order, including POS. |
Additional Features & Options |
Combined statement option, ATM access. |
Transfers and withdrawals made in person, by messenger, by mail or at proprietary ATM are unlimited. |
Requires a Discovery Bank checking account with a minimum opening deposit of $10,000. Transfers and withdrawals made in person, by messenger, by mail or at proprietary ATM are unlimited. |
Excess Transaction |
$5 |
$5 |
$10 |
* Additional disclosures will be given at the time of account opening. The interest rate, percentage yield and service fees may change at any time. Interest begins to accrue on the business day cash items are deposited to the account. All other types of items deposited (non-cash items, such as checks not drawn on Discovery Bank, for example) will begin to accrue interest when funds become collected. Interest accrues daily and will be credited to the account monthly at the statement cycle. If the account is closed before interest is credited, accrued interest will not be paid. Time deposits may have interest paid at maturity.