CreditDonkey is a bank comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†





CIT Bank vs Discover Bank

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

CIT 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 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 with Discover, 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
Savings Builder High Yield Savings - 1.80% APY - Learn More

Read CIT Review

SPECIAL OFFER
Online Savings Account - Earn 1.70% APY - Learn More

Read Discover Review

 

Benefits and Features

SavingsSavings Builder up to 1.80% APY with $25,000+ balance or $100 monthly deposit.
1.70% APY
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit.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.
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
1.85% APY
1.55% APY under $100,000; 1.60% APY $100,000 or more. $2,500 minimum deposit.
Customer ServiceMonday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
24/7
ATMs 
Over 60,000 no-fee 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
Online Only
Online Only
 

CreditDonkey® Reviews

 CIT BankDiscover Bank
Savings
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • High APY
  • 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
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: Pricing information from published website as of 10/1/2019

    Discover: Pricing information from published website as of 10/31/2019

    Which is Better: CIT or Discover?

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

    In short: Discover's customer service is outstanding.


    Articles on CIT Bank

      CIT Bank Review

      Want a high interest rate at a good FDIC insured bank? CIT is tempting, but has some downsides. Read this CIT Bank review before you open an account.

      CIT Bank Savings Builder Review

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

      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

      CIT Bank Promo Code

      View list of latest CIT Bank online promotions. CIT Bank offers high yield online bank accounts with low minimum deposit requirements and minimal fees.

      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? Read on to learn more.

      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


    Which Do You Think is Best?

    Name
    Email (won't be published)


    You Might Also Like

      How to Deposit Cash to Online Bank

      Online-only banks can be a great way to boost your savings. But depositing cash can be a challenge. We cover several ways to deposit your money in our guide.

      Residual Income

      Make money and get paid even after the upfront work is done. Learn how residual (or passive) income works. Here are 10 good investment ideas to build it.

      Best High Yield Savings Accounts

      Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.

      Best Money Market Rates

      Good money market accounts offer high interest rates with more flexibility. Here are the top money market accounts to earn the most interest.

      Best Online Bank

      Online banks are convenient, pay higher interest rates, and have less fees. Read this list of the best online banks for your money.

      Marcus by Goldman Sachs Review

      Marcus by Goldman Sachs offers savings accounts and CDs at high interest rates. But don't expect accounts with a lot of bells and whistles. Read on for the pros and cons.

      Wells Fargo Bank Review: Account Good for You?

      Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.

      Citibank Review: Account Good for You?

      Citibank offers credit cards and banking services. But service fees and balance requirements are on the high side. Is it the right bank for you? Read this review to find out.

      Bank of America Review: Account Good for You?

      Bank of America offers a nationwide network, many account options, and user-friendly online banking. But does this convenience come at a cost? Read on.
      HSBC Bank

      HSBC Bank Review: Is It Good?

      HSBC Bank offers a full array of services for different needs, including a high-yield online savings and several checking options. But there are downsides. Read on for the pros and cons.

    Compare CIT to:


    You might also be interested in

    APY vs Interest Rate

    Comparing interest rates can get confusing. Should you look at APR or APY to determine what's best? We'll explain everything you need to know in our guide.

    Compare Discover to:


    Next Page:

    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.

    †Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

    *See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

    CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.