Riverwoods, IL, June 22, 2020 - Discover® aims to make saving for retirement easier by offering a no fee, no minimum opening deposit and a no lock-in duration option with the introduction of IRA Savings. The new retirement product allows customers the tax advantages that come with an IRA while having the flexibility of a savings account.

'We know that customers are often looking for retirement options to continually build a retirement nest egg and provide easier access to their funds, especially during uncertain times, such as a pandemic,' said Nicole Straub, vice president of deposits at Discover. 'We offer several products that help customers save, and want to make sure that customers have access to the option that is best for them.'

IRA Savings accounts work with any budget and are best for those that want to make contributions on their own schedule. Customers will have the options to open a Roth or Traditional IRA Savings account, allowing them to further customize the account to their needs.

'We know our customers have diverse needs when it comes to planning for retirement, and we want to help make sure they're able to be financially ready when the time comes,' said Straub. 'Discover's introduction of the IRA Savings account adds to our list of products that help people better manage their money and save easier so they can have a brighter financial future.'

Discover offers savings, cashback checking, money market, CDs, IRA CDs, and now an IRA Savings account option. All with no fees.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

Media Contacts

Sarah Grage Silberman
224-405-6029
sarahgragesilberman@discover.com

@Discover_News

Discover Bank, Member FDIC

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Discover Financial Services published this content on 22 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2020 20:41:02 UTC