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Discover Bank vs Axos Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Axos Bank? Read our comparison chart below.

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.

While Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.

Compare Discover Bank with Axos Bank, side-by-side. Read on for an in-depth look, including ratings and reviews.

 Discover BankAxos Bank
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Discover Bank

Axos Bank

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

Read Discover Bank Review

SPECIAL OFFER
Rewards Checking - Learn More

Read Axos Bank Review

 

Benefits and Features

Savings1.70% APY. No fees and no minimum deposit.1.30% APY. No minimum opening deposit. No monthly maintenance fee. Daily Compounding Interest.
CD0.35% 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.0.55% - 2.25% APY. Terms of 3 months to 60 months. No maintenance fee. Minimum deposit of $1,000.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit.Earn up to 1.25% APY if you meet 2 out of 3 conditions. 1. Monthly direct deposits totaling $1,000 or more 2. Use your Axos Visa® Debit Card for a total of 10 transactions per month (min $3 per transaction). 3. Use your Axos Visa® Debit Card 5 more times, a total of 15 transactions per month (min $3 per transaction).
Money Market1.55% APY under $100,000; 1.60% APY $100,000 or more. No fees. $2,500 minimum deposit.1.05% APY. No minimum balance requirements. No fees to open or maintain account.
Customer Service
24/7
 
ATMs
Over 60,000 no-fee ATMs
 
IRA CD12-month CD APY of 2.00%. 24-month CD APY of 2.05%. 5-year CD APY of 2.10%. 
Locations
Online Only
 
 

CreditDonkey® Reviews

 Discover BankAxos Bank
Savings
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LineSolid online bank with high APY rates and good customer service... Read full review Read full review
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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.

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

Axos Bank: Pricing information from published website as of 07/18/2019.

Which is Better: Discover Bank or Axos Bank?

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


Articles on Discover Bank


Articles on Axos Bank


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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.

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