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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.
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 | | |
CIT Bank | Discover Bank | |
|---|---|---|
CIT Bank Savings Builder - Up to $300 Bonus - | Online Savings Account - Earn 1.70% APY - | |
Benefits and Features | ||
| Savings | Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit. | 1.70% APY. No fees and no minimum deposit. |
| CD | Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee. | 0.35% to 2.20% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.00%. Minimum deposit of $2,500 to open. |
| Checking | eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000 | Earn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. |
| Money Market | 1.85% APY. $100 minimum deposit. No monthly maintenance fee. | 1.55% APY under $100,000; 1.60% APY $100,000 or more. No fees. $2,500 minimum deposit. |
| Customer Service | Monday - Friday: 8:00 am - 9:00 pm (ET) Saturday: 9:00 am - 5:00 pm (ET) Sunday: 11:00 am - 4:00 pm (ET) | |
| ATMs | ||
| IRA CD | 12-month CD APY of 2.00%. 24-month CD APY of 2.05%. 5-year CD APY of 2.10%. | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with excellent rates and no monthly fees... | Solid online bank with high APY rates and good customer service... |
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| What Others View | ||
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 from published website as of 10/1/2019 Discover Bank: Pricing information from published website as of 10/31/2019 | ||
Which is Better: CIT Bank or Discover Bank?
Still need help deciding which bank 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 Review
Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.
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 CD Rates
CIT Bank is known for competitive interest rates on online savings products. How are their CD rates? Check out the current rates and how they compare below.
CIT Bank Savings Builder Review
If you can save just $100 per month, you can earn a high APY with CIT Bank's Savings Builder. Find out if this bank is good for you.
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 Bank
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 CD Rates
Discover Bank's CD account offers high rates and no hidden fees. But is the term length worth it? Read this in-depth review before you open a CD.
Discover Checking 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 Savings 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.
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