bank rates

AAA Members Can Earn More On Savings

Having a AAA membership won’t just help you on the road, it can also speed up your path to savings through a partnership with Discover Bank.

Discover Bank offers higher savings ratesAAA members can open savings and money market accounts at Discover Bank and earn 5 basis points more than other account holders.

Discover is offering 1.25% APY on savings accounts and 1.15% APY on money market accounts for AAA members.

You need to have your membership information available to open an online account at this special rate.

Everyone else earns 1.20% APY for savings accounts and 1.10% APY for money markets with Discover Bank, the online bank owned by the credit card company, and based in Greenwood, Del.

The rate for AAA member is also higher than the best nationally available deal, of 1.21% APY offered by SFGI Direct, the online division of Summit Community Bank in Moorefield, W.Va.

AAA members need a $500 minimum deposit to open a savings account with Discover Bank.

Discover’s money market rate is among the highest available nationally. AmTrust Direct and Hudson City Savings Bank share the top spot, with a rate of 1.25% APY. AmTrust Direct is the online division of AmTrust Bank of Cleveland. Hudson City Savings Bank is based in Paramus, N.J.

There’s no minimum to open a Discover money market, but to earn the top rate you need to keep between $10,000 and $99,999 in your account. Amounts below that earn 1.05% APY. Amounts of $100,000 and above 1.20% APY.

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Comments (2)
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2 Existing Comments
  1. Mike at Bankaholic said:
    on April 12th at 03:32 pm

    Discover Bank has dropped its rates. The AAA rates are now 1.20% for the savings account and 1.10% for the money market account.

  2. Mike at Bankaholic said:
    on May 23rd at 10:52 am

    The AAA rates remain 1.20% for the savings accont and 1.10% for the money market account.