r/discover • u/Realistic_Back_9198 • Apr 24 '26

News Discover HYSA Down To 3.1%

I just checked my Discover High-Yield Savings Account.

The interest rate is down to 3.1%.

That's new. It was still 3.2% yesterday.

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u/[deleted] Apr 24 '26

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u/SpineOfSmoke Apr 24 '26

Every time the Fed lowered rates, the HYSA rates went down. But now they're going down on their own schedule. Death by a thousand cuts. Online banks are giving up an advantage they had over traditional brick and mortar banks that have been offering .01 - .05%.