Axos Bank vs Discover Bank

Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to Discover Bank? Read our comparison chart below.

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.

While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms. There are no service fees.

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

	Axos Bank	Discover Bank
	Member FDIC	Member FDIC
	Learn More	Visit Site
	SPECIAL OFFER Rewards Checking - Up to 3.30% APY - Learn More Read Axos Bank Review	SPECIAL OFFER Discover® Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review
	Benefits and Features
Savings	0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)	3.50% APY
CD	0.20% APY. Terms of 3 months to 5 years. $1,000 minimum	2.00% to 4.20% APY depending on terms
Checking	Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback
Money Market	0.25% APY
Mobile App	iOS & Android	iOS & Android
ATMs	approximately 91,000 partner ATMs	Over 60,000 no-fee ATMs
Customer Service	24/7	24/7
Locations	Online only	Online Only
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
ATMs
Locations
Customer Service
Pros & Cons	Pros: Checking with rewards No monthly fee Domestic ATM rebates Cons: Low CD rates No physical branches	Pros: High yield No fees 24/7 customer service
Bottom Line	Full-service online bank with excellent cashback and interest checking... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Learn More	Visit Site
	Rewards Checking - Up to 3.30% APY Axos ONE - Earn up to 4.66% APY Basic Business Checking - Up to $400 Bonus	Discover® Online Savings - $200 Cash Bonus Discover® Online Savings - $150 Cash Bonus Online Savings Account - Earn 3.50% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Axos Bank: Pricing information from published website as of 06/07/2025. Discover Bank: Pricing information and data points from published website as of 07/22/2025.

Member FDIC

Rewards Checking - Up to 3.30% APY

Get Deal

Build your own APY with up to 3.30% APY*
Zero monthly maintenance fees
Zero overdraft or NSF fees
Zero minimum monthly balance reqs
No initial deposit requirement
Unlimited domestic ATM fee reimbursements
Online debit card management
Simple, 3-step process for direct deposit

Member FDIC

Axos ONE - Earn up to 4.66% APY

Learn More

Earn up to 4.66% APY* on savings, and 0.51% APY* on checking when you meet requirements.
Get your money up to 2 days early.
No monthly maintenance, minimum balance, account opening, or overdraft fees.

Member FDIC

Basic Business Checking - Up to $400 Bonus

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Expires 9/30/2025

Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NEW400 on your application.*
No initial deposit requirement
No minimum balance requirement
No monthly maintenance fees
Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
Unlimited domestic ATM fee reimbursements
Unlimited item processing (debits, credits, and deposited items)
Cash deposits via MoneyPass and AllPoint networks

Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.

Get Deal

Expires 9/11/2025

Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

Get Deal

Expires 9/11/2025

Member FDIC

Online Savings Account - Earn 3.50% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

Which is Better: Axos Bank 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 Axos Bank or Bank of America.

In short: Axos Bank's checking is excellent.

Articles on Axos Bank

Axos Bank Review

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Axos Business Checking

Looking for affordable banking for your small business? Axos Bank offers a free business checking account or an interest-bearing account. Read on.

Articles on Discover Bank

Discover Bank 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.