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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. 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
 Visit SiteVisit Site
 

Discover Bank

TD Bank

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

Read Discover Bank Review

SPECIAL OFFER
TD $300 Beyond Checking Bonus - Learn More

Read TD Bank Review

 

Benefits and Features

Savings
0.70% 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.
CD0.30% to 2.75% APY. Terms of 3 months to 10 years. $2,500 minimum0.05% APY (up to 0.05% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsTD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠
Money Market0.60% APY under $100,000; 0.65% APY $100,000 or more. $2,500 minimum deposit.0.01% - 0.02% APY (up to 0.03% 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 1.50%. 24-month CD APY of 2.00%. 5-year CD APY of 2.75%.0.05% APY (up to 0.05% 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
SavingsStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarHalf Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 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
 Visit SiteVisit Site

Discover Bank: Pricing information and data points from published website as of 05/27/2022

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

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, by phone or Discover App). Enter Offer Code CY222 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 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2022
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, by phone or Discover App). Enter Offer Code CY222 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 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2022
Discover Bank
Member FDIC

Online Savings Account - Earn 0.70% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

Expires 10/31/2022
  • Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
  • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Rush Bill Payments and more.
  • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
  • TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • Overdraft Payback - Get overdraft fees automatically reversed up to two times a year.
  • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
  • TD checking accounts come with an instant-issue debit card. And, you can pay with confidence with Zero Liability protection and 24/7 fraud monitoring.
  • Monthly maintenance fee waived on one TD Simple Checking℠ account and any Savings and Money Market accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.
TD Bank
Member FDIC

TD Convenience Checking℠ - $150 Cash Bonus

Expires 10/31/2022
  • Earn $150 when you receive direct deposits totaling $500 or more within 60 days
  • Low minimum daily balance of $100 waives the $15 monthly fee.
  • Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee.
  • Instantly replace a lost or worn debit card by visiting a TD Bank location near you
  • Access accounts via Online Banking with Bill Pay, Online Statements and TD Bank Mobile Deposit, with 24/7 cash access at TD ATMs in the U.S. and Canada – plus 24/7 Live Customer Service
  • Get a 0.25% discount on TD Bank Home Equity and Personal Loans

Which is Better: Discover Bank or TD Bank?

Still need help deciding which bank reviews & deals 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.


Articles on Discover Bank

Discover Bank

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

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 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.

Articles on TD Bank

TD Bank Review

TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere.

TD Beyond Checking Bonus

TD Bank is offering $300 to open a Beyond Checking account. Find out how to earn the bonus.

TD Convenience Checking Bonus

TD Bank is offering a $150 sign-up bonus for opening a Convenience Checking ℠ account. Learn more about this promotion below.

TD Bank Hours

TD Bank is open 7 days a week, depending on the location. Here's when you can visit a branch near you.

TD Bank Open Account

Opening an account with TD Bank is simple. Take a look at what you'll need and check out your account options in our guide.

TD Bank Routing Number

Find your TD Bank routing number by state. Get the correct number with and without a check.

Which Do You Think is Best?





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