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Ally Bank vs. Discover Comparison

Compare providers side-by-side, allowing for easy comparison of features, rates, and terms. The comparison tool encourages individuals to thoroughly review all aspects of each service before making a smart financial decision.

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Online Banking

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Personal Loans

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Mortgages

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Online Banking

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Online Banking drop-down-btn
Good For
Save Smarter and Faster
Good For
No fee banking on your terms
Account types
  • Checking
  • Savings
  • Certificates of Deposit (CD)
  • Money Market Deposit Account (MMDA)
Account types
  • Checking
  • Savings
  • Certificates of Deposit (CD)
  • Money Market Deposit Account (MMDA)
Pros
  • No maintenance fees on some accounts
  • Earn more with excellent APYs
  • Multiple options to fund accounts
Pros
  • Great selection of online bank accounts
  • Accounts are free from fees
  • High savings account and CD APY
  • Cashback on debit card purchases
Cons
  • cons No physical branches
  • cons Some negative reviews
  • cons No way to conduct cash deposits
Cons
  • cons No physical branches
  • cons No reimbursement on out-of-network ATMs
  • cons Min deposit of $2,500 to open CD account
  • cons No specialty CDs or brokerage accounts
Min Deposit
No minimum
Min Deposit
No minimum
Min APY Checking
0.10
Min APY Checking
Min APY Savings
4.20
Min APY Savings
ATM Network
75,000+ Nationwide
ATM Network
60,000+ fee-free ATMs
Personal Loans drop-down-btn
Good For
Personal loans for almost anything
Min Credit Score
660
APR

7.99-24.99%

Loan Amount

$3K-$40K

Lender Type
  • Direct
Loan Type
  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans
Loan Purpose
  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Relocation
  • Vacation
  • Wedding
  • Other
Repayment terms
36-84 months
Soft Credit Pull
Yes
Pros
  • No origination fees
  • Flexible repayment terms
  • Fixed rates
Cons
  • cons No variable rate APR
  • cons Discover does not offer secured or joint loans
  • cons No autopay discount
Not provided

Service isn't provided

Mortgages drop-down-btn
Good For
Refinance with no hidden fees
Min Credit Score
680
Loan Type
  • Mortgage Refinance
  • Home Equity Loan
Prepayment Fee
None
Origination Fee
None
Not provided

Service isn't provided

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