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 | |
|---|---|---|
CIT Bank Money Market Account - 0.45% APY - | Online Savings Account - Earn 0.40% APY - | |
Benefits and Features | ||
| Savings | Savings Builder up to 0.40% APY with $25,000+ balance or $100 monthly deposit. | |
| CD | Term 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. |
| 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 | 0.30% APY under $100,000; 0.35% 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 | |
| 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 | ||
CreditDonkey® Reviews | ||
| | |
| Savings |   | |
| Checking | |  |
| Money Market | | |
| Customer Service | | |
| Mobile App | | |
| 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... |
| | |
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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