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.

Tip: Check out the latest Discover Bank promotion.

	SoFi	Discover Bank
		Member FDIC
	Learn More	Visit Site
	OFFER Refinance Student Loans - Learn More Read SoFi Review	SPECIAL OFFER Discover® Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review
	Benefits and Features
Savings	4.50% APY on savings balances with direct deposit or qualifying deposits (1.20% APY without)	4.00% APY
CD	N/A	2.00% to 4.10% APY depending on terms
Checking	0.50% APY on checking balances	Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market		3.80% APY under $100,000; 3.85% APY $100,000 or more.
Mobile App	iOS & Android
ATMs	55,000+ Allpoint ATMs	Over 60,000 no-fee ATMs
Customer Service	Checking and Savings Support: Phone: (855) 456-7634 Monday - Thursday: 5AM - 7PM PT Friday - Sunday: 5AM - 5PM PT 24/7 online chat	24/7
IRA CD		9-month CD APY of 4.00%. 12-month CD APY of 4.10%. 18-month CD APY of 3.80%. 24-month CD APY of 3.60%. 5-year CD APY of 3.40%.
Locations	4 branch locations	Online Only
	CreditDonkey® Reviews

Fees
Interest Rates
Eligibility
Savings
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: 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
Bottom Line	Personal loans with low APR and fees. Must have good credit to qualify... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Learn More	Visit Site
	Refinance Student Loans Personal Loans: Borrow Between $5k-$100k Active Investing with SoFi	Discover® Online Savings - $200 Cash Bonus Discover® Online Savings - $150 Cash Bonus Online Savings Account - Earn 4.00% APY
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 10/22/2024

Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 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, including co-branded, or affinity accounts. 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 the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 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 your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.

Get Deal

Expires 3/13/2025

Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 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 3/13/2025

Member FDIC

Online Savings Account - Earn 4.00% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

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.

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Discover Savings Review

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