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SoFi vs Discover Bank

SoFi is a personal loans with low APR and fees. Must have good credit to qualify. How does it compare to Discover Bank? Read our comparison chart below.

 SoFiDiscover Bank
Member FDIC
 Learn MoreVisit Site
 

SoFi

Discover Bank

OFFER
Refinance Student Loans - Learn More

Read SoFi Review

SPECIAL OFFER
Online Savings Account - Earn 4.25% APY - Learn More

Read Discover Bank Review

 

Benefits and Features

Savings
Up to 4.60% APY
4.25% APY
CD
N/A
2.00% to 4.70% APY depending on terms. $2,500 minimum
Checking0.50% APY on checking balances with direct deposit activity or qualifying depositsCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit.
ATMs 
Over 60,000 no-fee ATMs
Customer Service 
24/7
IRA CD 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%.
Locations 
Online Only
 

CreditDonkey® Reviews

 SoFiDiscover Bank
FeesStarStarStarStarHalf Star
EligibilityStarStarHalf StarEmpty StarEmpty Star
Interest RatesStarStarStarStarHalf Star
SavingsStarStarStarStarHalf Star
CheckingStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarStar
Customer ServiceStarStarStarStarStar
Pros & ConsPros:
  • Competitive, fixed rates
  • Low fees
  • No collateral
Cons:
  • Slower underwriting process
  • High standards for borrowers
Pros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LinePersonal loans with low APR and fees. Must have good credit to qualify... Read full reviewSolid online bank with high APY rates and good customer service... Read full review
 Learn MoreVisit Site

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 and data points from published website as of 03/15/2024.

Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

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

Online Checking Account - Earn Cash Back

  • 1% cash back on up to $3,000 in debit card purchases each month. See website for details
  • No fees
  • Early Pay - Get your paycheck up to two days early with no charge
  • No credit impact - You can apply without affecting your credit score.
  • Access to over 60,000 no-fee ATMs in the U.S.
Discover Bank
Member FDIC

Discover® Cashback Checking – Up to $30/Month Cashback

Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.

Which is Better: SoFi 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 SoFi or Chase.


Articles on SoFi

SoFi Personal Loan Review

SoFi offers unsecured personal loans if you need to borrow money ASAP. But is it legit (or not)? Learn how SoFi personal loans actually work.

SoFi Bank Locations

SoFi is an online bank offering checking and savings accounts. But does it have physical branches? Keep reading to find out.

SoFi High Yield Savings Review

Want a high APY and easy access to your money? Get the best of both worlds with SoFi's Checking and Savings account.

SoFi Mortgage Review

Thinking about buying a home or refinancing your existing mortgage? Is SoFi a good online lender or should you stick with a traditional bank? Read on for the pros and cons.

Articles on Discover Bank

Discover Savings Review

Discover® Bank 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

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.

Discover CD Rates

Maximize returns with Discover® Bank lucrative CD rates - no hidden fees. Read this detailed review.

Discover Bank Locations

Wondering if there is a Discover® Bank near you? Read this article to find out.

Discover Checking Account Fees

Does Discover® Cashback Debit have any fees? Find out if they are completely fee-free.

Who Owns Discover

You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.

Discover Checking Account Minimum Balance

Discover® Cashback Debit doesn't have a minimum balance. But what's the catch? Read on for all the details.

Discover Checking Account Requirements

Discover® checking account offers no monthly fees and a rewarding cashback program. Here's what you need to open an account today.

Discover Savings vs Money Market

Discover® Bank boasts solid rates for both their money market and savings accounts. Find out which one is more suited for you.

Is Discover Bank a Good and Real Bank

Looking for a safe bank with great rates? This analysis of Discover® Bank reveals all - is it legit? Find out now.

Is Discover Savings Worth It

Is your money secure in a high-yield Discover® savings account? Get your answers now.

Which Do You Think is Best?





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About CreditDonkey
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.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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