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CIT Bank vs Discover Bank

CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Discover Bank? Read our comparison chart below.

CIT Bank offers savings accounts and multiple CDs, including a no-penalty CD. Savings and Money Market account requires $100 minimum deposit, while term CDs require $1,000 minimum deposit. There are no monthly service fees.

While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. In addition, Discover offers checkback checking. There are no service fees.

Compare CIT Bank with Discover Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 CIT BankDiscover Bank
 Visit SiteVisit Site
 

CIT Bank

Discover Bank

SPECIAL OFFER
CIT Bank Money Market Account - 0.45% APY - Learn More

Read CIT Bank Review

SPECIAL OFFER
Online Savings Account - Earn 0.40% APY - Learn More

Read Discover Bank Review

 

Benefits and Features

SavingsSavings Builder up to 0.40% APY with $25,000+ balance or $100 monthly deposit.
0.40% APY
CDTerm CDs up to 0.50% APY. $1,000 minimum opening deposit.0.20% to 0.60% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.50%. Minimum deposit of $2,500 to open.
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000Earn 1% cashback on up to $3,000 in debit card purchases each month
Money Market
0.45% APY
0.30% APY under $100,000; 0.35% APY $100,000 or more. $2,500 minimum deposit.
Customer ServiceMonday - Friday: 9:00 am - 9:00 pm (ET)
Saturday: 10:00 am - 6:00 pm (ET)
Sunday: Closed
24/7
ATMs 
Over 60,000 no-fee ATMs
IRA CD 12-month CD APY of 0.50%. 24-month CD APY of 0.50%. 5-year CD APY of 0.60%.
Locations
Online Only
Online Only
 

CreditDonkey® Reviews

 CIT BankDiscover Bank
SavingsStarStarStarStarHalf StarStarStarStarStarHalf Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarStarStarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarStar
Pros & ConsPros:
  • High yield
  • No monthly service fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Pros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LineSolid online bank with excellent rates and no monthly fees... Read full reviewSolid online bank with high APY rates and good customer service... Read full review
 Visit SiteVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

CIT Bank: Pricing information and data points from published website as of 02/16/2021

Discover Bank: Pricing information and data points from published website as of 01/28/2021

Which is Better: CIT Bank or Discover Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing CIT Bank or Chase.

In short: Discover Bank's customer service is outstanding.


Articles on CIT Bank

CIT Bank Savings Review

CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.

CIT Bank Savings Builder Review

If you can save $100 per month, you can earn a high interest rate with CIT Bank Savings Builder. Find out if this bank is any good.

CIT Bank CD Rates

CIT Bank is trustworthy. But does CIT have the best CD rates right now? Find out how CIT Bank's interest rate compares.

Who is CIT Bank

CIT Bank offers accounts with high interest rates and low fees. But just who is CIT Bank? And should you trust them with your money?

CIT Bank Login

Forgot your CIT Bank username? We'll show you how to login your online bank account.

CIT Bank Complaints

CIT Bank offers a high APY. But there are some downsides, too. Read on to learn more about CIT Bank common complaints and possible solutions.

CIT Bank Routing Number

Want to transfer money in or out of your CIT Bank account? Read this review to find your ABA routing number.

CIT Bank Locations

CIT Bank is an online only bank with no physical branches. Find out how to manage your account, reach customer service, and the bank's current offers.

Articles on Discover Bank

Discover Savings Review

Discover offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Account Review

Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.

Discover Checking Account Review

With Discover Bank's Cashback Debit account, you'll pay no fees and earn money for purchases. Learn more about these benefits—and some downsides—in our guide.

Discover CD

Discover Bank's CD account offers high rates and no hidden fees. But is the term worth it? Read this review before you open a CD.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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