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Discover Bank vs TD Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to TD 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 TD Bank has 1,300 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.

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

 Discover BankTD Bank
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Discover Bank

TD Bank

SPECIAL OFFER
Online Savings Account - Earn 0.95% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
TD Beyond Checking - Learn More

Read TD Bank Review

 

Benefits and Features

Savings
0.95% APY
0.05% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.
CD0.25% to 1.05% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.90%. Minimum deposit of $2,500 to open.0.05% APY (up to 0.20% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month 
Money Market0.80% APY under $100,000; 0.85% APY $100,000 or more. $2,500 minimum deposit.0.01% - 0.10% APY (up to 0.15% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old.
Customer Service
24/7
24/7 Live Customer Service (Telephone)
ATMs
Over 60,000 no-fee ATMs
Approximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida
IRA CD12-month CD APY of 0.90%. 24-month CD APY of 0.90%. 5-year CD APY of 1.05%.0.05% APY (up to 0.20% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account).
Locations
Online Only
1300 locations along the east coast.
 

CreditDonkey® Reviews

 Discover BankTD Bank
Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Extended banking hours
  • Low requirements to waive monthly fees
  • No foreign transaction fees
Cons:
  • No free checking
  • Low APY
  • Only on East Coast
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewEast Coast bank with relatively low minimum balance requirements... 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 5/29/2020

TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code.

Which is Better: Discover Bank or TD 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 savings and money market are worth mentioning. In particular, the money market is outstanding.


Articles on Discover Bank


Articles on TD Bank


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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.

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