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Discover Bank vs CIT Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to CIT 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 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.

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

 Discover BankCIT Bank
 Visit SiteVisit Site
 

Discover Bank

CIT Bank

SPECIAL OFFER
Online Savings Account - Earn 1.80% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
CIT Bank Savings Builder - Up to $300 Bonus - Learn More

Read CIT Bank Review

 

Benefits and Features

Savings1.80% APY. No fees and no minimum deposit.Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
CD0.35% to 2.30% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.10%. Minimum deposit of $2,500 to open.Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit.eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000
Money Market1.65% APY under $100,000; 1.70% APY $100,000 or more. No fees. $2,500 minimum deposit.1.85% APY. $100 minimum deposit. No monthly maintenance fee.
Customer Service
24/7
Monday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
ATMs
Over 60,000 no-fee ATMs
 
IRA CD12-month CD APY of 2.10%. 24-month CD APY of 2.15%. 5-year CD APY of 2.20%. 
Locations
Online Only
Online Only
 

CreditDonkey® Reviews

 Discover BankCIT 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
Pros:
  • High APY
  • No minimum deposit for savings
  • No monthly service fees
Cons:
  • No checking accounts
  • No ATM card
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewSolid online bank with excellent rates and no monthly fees... 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.

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

    CIT Bank: Pricing information from published website as of 10/1/2019

    Which is Better: Discover Bank or CIT 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.

    In short: Discover Bank's customer service is outstanding.


    Articles on Discover Bank


    Articles on CIT Bank

      CIT Bank Review

      Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.

      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 CD Rates

      CIT Bank is known for competitive interest rates on savings products. How are their CD rates? Find out the current rates and how they compare.

      CIT Bank Savings Builder Review

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

      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.

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