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 Bank	Discover Bank


	SPECIAL OFFER CIT Bank Money Market Account - Learn More Read CIT Bank Review	SPECIAL OFFER Discover Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review
	Benefits and Features
Savings	Savings Builder up to 0.40% APY with $25,000+ balance or $100 monthly deposit.	0.50% APY
CD	Term CDs up to 0.50% APY. $1,000 minimum opening deposit.	0.20% to 1.00% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.55%. Minimum deposit of $2,500 to open.
Checking	eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000	Earn 1% cashback on up to $3,000 in debit card purchases each month
Money Market	0.45% APY	0.40% APY under $100,000; 0.45% APY $100,000 or more. $2,500 minimum deposit.
Customer Service	Monday - 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 0.55%. 24-month CD APY of 0.65%. 5-year CD APY of 1.00%.
Locations	Online Only	Online Only
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: 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 Line	Solid online bank with excellent rates and no monthly fees... Read full review	Solid online bank with high APY rates and good customer service... Read full review

	CIT Bank Money Market Account CIT Savings Builder - 0.40% APY CIT Bank Term CDs	Discover Online Savings - $200 Cash Bonus Discover Online Savings - $150 Cash Bonus Online Savings Account - Earn 0.50% APY
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 06/29/2021 Discover Bank: Pricing information and data points from published website as of 01/28/2021

Member FDIC

CIT Bank Money Market Account - 0.45% APY

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0.45% APY
$100 minimum opening deposit
No monthly maintenance fee

Member FDIC

CIT Savings Builder - 0.40% APY

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Earn up to 0.40% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC

Member FDIC

CIT Bank Term CDs

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Up to 0.50% APY
$1,000 minimum opening deposit
No monthly maintenance fee

Term	CD Rates
6 Month	0.30% APY
1 Year	0.30% APY
13 Month	0.30% APY
18 Month	0.30% APY
2 Year	0.40% APY
3 Year	0.40% APY
4 Year	0.50% APY
5 Year	0.50% APY

Member FDIC

Discover Online Savings - $200 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY122 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 3/15/22, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Get Deal

Expires 3/15/2022

Member FDIC

Discover Online Savings - $150 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY122 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

Get Deal

Expires 3/15/2022

Member FDIC

Online Savings Account - Earn 0.50% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

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 vs Chime

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.

CIT Bank Savings Builder vs Money Market

CIT Bank offers both money market and savings accounts. But which is better to keep your money safe? Find out how to choose between the two.

CIT Bank Savings Builder vs Savings Connect

CIT Bank has even more ways to save now. Savings Connect and Savings Builder both offer competitive rates. Find out the bank account that is best for you.

What is CIT Bank

In the modern world, there are some things you just don't have to do anymore. Like drawing water from a well. Or paying fees just to keep your bank account open.

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.