Save money and be informed. 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 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 is an online division of First Citizens Bank. It's known for high interest rates on its savings accounts and CDs. In addition, it offers an eChecking account. All accounts have 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. 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 Savings Connect - Learn More

Read CIT Bank Review

SPECIAL OFFER
Discover Online Savings - $200 Cash Bonus - Learn More

Read Discover Bank Review

 

Benefits and Features

SavingsSavings Connect: 3.60% APY
Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit.
3.00% APY
CDTerm CDs up to 4.50% APY. $1,000 minimum opening deposit.1.50% to 4.25% APY. Terms of 3 months to 10 years. $2,500 minimum
CheckingeChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market
1.55% APY
2.90% APY under $100,000; 2.95% 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 4.00%. 24-month CD APY of 4.10%. 5-year CD APY of 4.25%.
Locations
Online Only
Online Only
 

CreditDonkey® Reviews

 CIT BankDiscover Bank
SavingsStarStarStarStarStarStarStarStarStarHalf Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarEmpty StarStarStarStarStarStar
Pros & ConsPros:
  • High savings APY
  • No monthly fees
  • Low opening deposits
Cons:
  • No physical locations
  • No check writing
Pros:
  • High yield
  • No fees
  • 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 10/18/2022.

Discover Bank: Pricing information and data points from published website as of 11/10/2022

CIT Bank
Member FDIC

CIT Bank Savings Connect - 3.60% APY

  • Earn 15x the national average
  • $100 minimum opening deposit
  • No monthly maintenance fee
CIT Bank
Member FDIC

Money Market Account - Get a Year of Amazon Prime

Expires 12/23/2022
To get your year of Amazon Prime ($139 cash value):
  • Open a new Money Market account using promo code AMZN22.
  • Fund your account with $15,000 within 15 days.
  • Keep a minimum balance of $15,000 for 60 days.
After 60 days, if you've fulfilled the requirements, CIT will send you an email with your Prime membership code. Existing Amazon Prime members can use the one year of Amazon Prime to renew their membership for an additional year. Limit one Money Market promotion per account and per customer. Conditions apply. See advertiser website for details.
CIT Bank
Member FDIC

CIT Bank Term CDs

  • Up to 4.50% APY
  • $1,000 minimum opening deposit
  • No monthly maintenance fee
TermCD Rates
6 Month2.75% APY
1 Year0.30% APY
13 Month4.35% APY
18 Month4.50% APY
2 Year0.40% APY
3 Year0.40% APY
4 Year0.50% APY
5 Year0.50% APY
Discover Bank
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, in the Discover App or by phone. Enter Offer Code CY922 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 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 12/15/2022
Discover Bank
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, in the Discover App or by phone. Enter Offer Code CY922 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 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 12/15/2022
Discover Bank
Member FDIC

Online Savings Account - Earn 3.00% APY

  • 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 and mobile app are 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 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 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.

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 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.

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.

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.

CIT Bank Login

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

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 Routing Number

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

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 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.

Is Discover a Real Bank

Discover Bank promises great rates and no fees. But is it actually a good and safe bank? Find out if it is a real and legit bank.

Is Discover Savings Worth It

Looking for a better place to keep your money safe? Find out if a Discover Online Savings Account is worth it for you.

Discover Savings Bonus

You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this Discover Bank promotion.

Which Do You Think is Best?





You Might Also Like

Best National Bank

Best National Bank

There are over 5,000 FDIC-insured banks in America. How do you choose a good national bank to keep your money safe?
3 Types of Savings Accounts

3 Types of Savings Accounts

Grow your money with a savings account. There are several account types depending on your needs. Learn about the different savings options.
How Do Banks Work

How Do Banks Work

Banks are part of our everyday life, but how do they work? Take a look at how they function and what they do with your money.
How to Deposit Cash to Online Bank

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. Learn several ways to deposit your money in this guide.
Best Free Checking Accounts

Best Free Checking Accounts

Banking doesn't have to be expensive. Here is a list of good free checking accounts without outrageous fees or high balance requirements.
Residual Income

Residual Income

How do you get residual (or passive) income? And why is it so important? Take a look at real examples to get started.
Best High Yield Savings Accounts

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

Best Money Market Rates

Good money market accounts offer high interest rates with more flexibility. Here are the safest money market accounts to earn the most interest.
Savings Account Promotions

Savings Account Promotions

View list of best savings promos and bonus offers for new accounts. Look for cash bonuses and high interest rates.
Best Online Bank

Best Online Bank

Online banks are convenient, pay higher interest rates, and have less fees. Find out which accounts are best (#1 surprised us).

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 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.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.