Discover Online Savings (4.25% APY)

Discover Bank is one of the largest online savings institutions with $132 billion in deposits and a 20-year track record in direct banking. The 4.25% APY is competitive without being market-leading, and Discover's brand recognition and customer service reputation (consistently top-tier in FDIC complaint data — among the lowest complaint rates of any bank) make it a strong choice for conservative savers. The account has no minimum balance, no fees, and Discover's online and mobile experience is among the most polished available. Discover also offers a comprehensive CDs portfolio with competitive rates for savers who want to lock in rates over 1-5 year terms. The one limitation: like all online savings accounts, no ATM access and 1-3 day transfer times apply.