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Discover Bank vs Navy Federal Credit Union

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Navy Federal Credit Union? Read our comparison chart below.

 Discover Bank
Member FDIC
 Visit SiteLearn More
 

Discover Bank

Navy Federal Credit Union

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

Read Discover Bank Review

SPECIAL OFFER
Referral Program - Up to $500 Bonus - Learn More

Read Navy Federal Credit Union Review

 

Benefits and Features

Savings
3.70% APY
Share Savings Account: 0.25% APY. $5 minimum deposit. A Membership Savings Account with a $5 minimum is required to establish and maintain membership.
CD2.00% to 4.10% APY depending on termsStandard Certificate: as high as 4.05%. Terms of 3 months to 7 years. Minimum deposit of $1,000.
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsFree Active Duty Checking, Free Easy Checking, Free EveryDay Checking, Flagship Checking, Free Campus Checking, Business Checking Accounts
Money Market3.60% APY under $100,000; 3.65% APY $100,000 or more. 
Mobile App 
iOS & Android
ATMs
Over 60,000 no-fee ATMs
Over 1.7 million Navy Federal and CO-OP Network ATMs
Customer Service
24/7
Phone: 888-842-6328
24/7 customer support
Online chat
IRA CD9-month CD APY of 3.80%. 12-month CD APY of 4.00%. 18-month CD APY of 4.00%. 24-month CD APY of 4.10%. 5-year CD APY of 3.50%.As high as 4.05%. Terms of 3 months to 7 years. Minimum deposit of $1,000.
Locations
Online Only
335 branches
 

CreditDonkey® Reviews

 Discover Bank
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
FeesStarStarStarStarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
Pros:
  • $0 monthly charge
  • Extensive ATM network
Cons:
  • Low interest rate
  • $5 opening deposit
  • Only for members
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewSavings account with low APY, best for military personnel... Read full review
 Visit SiteLearn More

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 02/15/2025.

Navy Federal Credit Union: Pricing information from published website as of 01/06/2025 based on 91107 zip code.

Discover Bank
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.

Expires 9/11/2025
Discover Bank
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.

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.

Expires 9/11/2025
Discover Bank
Member FDIC

Online Savings Account - Earn 3.70% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required

Which is Better: Discover Bank or Navy Federal Credit Union?

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, mobile app, and customer service are worth mentioning. In particular, the mobile app and customer service are outstanding.


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 Online 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 Reviews

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

Discover Savings Bonus

Earn up to $200 bonus by opening a Discover® Online Savings Account. Find out how to qualify with the correct bonus.

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 Money Market vs Savings

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

Is Discover a 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.

Articles on Navy Federal Credit Union

Navy Federal High Yield Savings

Navy Federal Credit Union provides various financial products. But do they have a high-yield savings account? Find out here.

Which Do You Think is Best?





Which Bank Account is Right for You?


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