Banking » Compare Banks » Discover Online Savings Account vs. PNC Standard Savings: Compare Side By Side
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Discover Online Savings Account vs. PNC Standard Savings: Compare Side By Side

PNC offers higher savings rate than Discover, but the states are very limited. Here's our full savings account comparison
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

 In this article, we'll compare two popular savings accounts – Discover and PNC – side by side, to help you make an informed decision about where to save your hard-earned money.

We'll take a close look at the features, fees, interest rates, and overall user experience of each account to help you decide which one is right for you.

Compare Savings Account Rates

Discover Online Savings
PNC High Yield Savings
Savings Rate
4.25%
4.65% The PNC High Yield Savings℠ account is only available to residents of Arizona, California, Colorado, New Mexico and Texas.
Minimum Deposit
$0
$0
Fees
$0
$0
Promotion
None
None
CD Range
3.75% – 4.30%
5.05%

The table provides a comparison between two popular online savings accounts, Discover Online Savings and PNC High Yield Savings.

In terms of the savings rate, PNC High Yield Savings offers a slightly higher rate compared to Discover Online Savings.  Both accounts have no minimum deposit requirements or fees, making them accessible to a wide range of customers. However, it is worth noting that PNC High Yield Savings requires a minimum balance of $1 to earn interest.

Neither account currently offers any promotions, so customers won't receive any bonus for opening a new account. When it comes to CD rates which can be a good alternative to savings account, Discover Online Savings offers higher rates (3.75% – 4.30%) compared to PNC High Yield Savings (5.05%). This may be an advantage for customers who are interested in investing in CDs instead of savings accounts.

Overall, while PNC High Yield Savings offers a higher savings rate, Discover Online Savings may be a better choice for customers interested in investing in CDs due to its wider range of rates. However, the final decision may depend on individual financial goals and preferences.

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Savings Rate: 5.21% APY
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Savings Rate: Up to 5.00% APY

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Savings Rate: 4.40% APY
Quontic bank logo
Savings Rate: 4.50% APY

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Savings Rate: 4.75% APY APY

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CD Rate: 5.00% – 5.20% APY
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We get compensated for these product offers
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
CIT-Bank-Logo
Savings Rate: Up to 5.00% APY

live-oak-bank-logo

Savings Rate: 4.40% APY
Quontic bank logo
Savings Rate: 4.50% APY

valley direct logo

Savings Rate: 4.75% APY APY

consumers credit union logo

CD Rate: 5.00% – 5.20% APY
Advertiser Disclosure
We get compensated for these product offers

Compare Savings Account Features

PNC High Yield Savings
Discover Online Savings
Easy Transfers
Excellent Mobile App
Automatic Savings Plans
Automatic Saver Options
Mobile Check Deposit
Deposit Money Options
Mobile and Online Banking

This account offers automatic savings plans that allow customers to set up regular automatic transfers to their High Yield Savings account, simplifying the savings process.

Depositing checks is simple and convenient with PNC's mobile app, enabling customers to make deposits anytime, anywhere.

PNC High Yield savings account provides a hassle-free way to transfer funds into your account with no charges. 

Customers can easily link their new savings account to an external bank account and transfer funds as needed, giving them more control over their savings.

PNC's mobile and online banking platform offers a user-friendly interface that makes it easy to manage the account and perform transactions.

The Discover Bank app is available for Android and Apple devices, allowing you to manage your account, transfer funds, check balances, and deposit checks.

You can schedule regular transfers from your Discover checking account to maximize returns and build your savings fund.

Discover Online Savings account provides several options for depositing money into your account, including mobile deposit, online transfer, wire transfer, direct deposit, and mailing in a check.

Finding the Best Savings Account Rates

If you are looking for alternative savings accounts to PNC and Discover, you have a wide variety of options to consider. In addition to traditional banks, there are online banks and credit unions that offer competitive rates and minimum deposit requirements.

To help you make an informed decision on which option is best for you, we have compiled a table comparing the savings account rates and minimum deposit requirements of various traditional banks, online banks, and credit unions.

Bank/Institution
Savings APY
Min Deposit
Type
Up to 5.00%
$100
Online Bank
4.40%
$0
Online Bank
4.25%
$0
Online Bank
4.25%
$0
Online Bank
4.35%
$0
Traditional Bank
5.21%
$0
Online Banking
4.40%
$0
Online Banking
4.35%
$0
Online Bank
5.00%
$100
Online Banking
4.75%
$0
Online Bank
4.50%
$100
Online Bank
3.06% – 3.10%
$0
Credit Union
4.2%
$0
Online Bank
up to 4.60%
$1,000 – $5,000
Online Bank
3.00%
$5
Credit Union

Compare Discover Savings

The Discover Online Savings and the Capital One 360 Performance Savings rates are similar. Compare account features, benefits and drawbacks.

Discover Online Savings Account vs Capital One 360 Performance Savings: Compare Side By Side

Discover and American Express offer competitive savings rates and no monthly fees. Compare account features, benefits, and drawbacks.

Discover Online Savings Account vs. American Express High Yield Savings Account

Discover and Ally offer online only savings accounts with several benefits, tools and sometimes even promotions. Here's our full comparison: Ally Bank Savings Account vs Discover Online Savings Account

There is no competition when it comes to savings rates – Discover wins Chase clearly. However, each of them has its own benefits and tools.

Chase Savings vs Discover Online Savings Account: Compare Side By Side

Compare PNC Bank Savings

PNC offers much higher savings rate than Chase, but PNC states are very limited. Here's our full savings account comparison: Chase Savings vs PNC Standard Savings

Our Savings Accounts Comparison Methodology

The Smart Investor team has conducted a comprehensive comparison of savings accounts, analyzing each based on these critical categories to help you decide where to entrust your savings.

  • Savings Rates: The savings rates category delves into the interest rates offered by each account, assessing their competitiveness in the market. Higher interest rates mean greater returns on your savings over time, providing a crucial incentive for account holders to choose one account over another. Additionally, we explore any promotional rates or conditions that may affect the account's overall value.
  • Savings Features: We examine the features and benefits accompanying each savings account. From account minimums and fees to accessibility through online and mobile banking platforms, these features can significantly impact the convenience and utility of the account for account holders. We also consider perks like overdraft protection, automatic savings plans, and rewards programs.
  • Customer Experience: A positive customer experience is paramount in banking, and we evaluate each institution's performance in this area. This includes aspects such as the ease of account opening, quality of customer service, availability of support channels, and overall user satisfaction on platforms such as Trust Pilot and JD Power ranking.
  • Bank Reputation: The bank's reputation carries weight in the decision-making process. Factors such as financial stability, regulatory compliance, and public perception contribute to the overall trustworthiness and reliability of the institution.

Savings Accounts Reviews

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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Best Savings Accounts
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
CIT-Bank-Logo
Savings Rate: Up to 5.00% APY
Quontic bank logo
Savings Rate: 4.50% APY

consumers credit union logo

CD Rate: 5.00% – 5.20% APY
Advertiser Disclosure
We get compensated for these product offers
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 10/16/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

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Promotion:
$200 $200 cash bonus if you make direct deposits totaling $2000 or more within 90 days of account opening.
No Minimum Deposit
Free checking account, no minimum balance, check writing, two days early paycheck

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Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$500 Use Promo Code “RC500” for a $500 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $2,500 You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities: • Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. • Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. – Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements
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