Presidential Bank review 2025: Checking account APY that might be better than your current high-yield savings
Presidential Bank
Presidential Bank
| Checking accounts | $5 monthly fee (avoidable) |
| Savings accounts | Earn up to 4.00% |
| CD rates | Earn up to 4.00% APY |
| Money market | Open with as little as $1,000 |
Savings accounts
You’ll have two savings account options to choose from at Presidential Bank: Advantage Savings and Premier Savings. Neither account comes with transfer limits. This differs from savings accounts at many other financial institutions which typically limit the number of times you can access your money each month.
The Advantage Savings account comes with far and away the higher APY of the two. Again, you can qualify for the highest return when you’ve also got an Advantage Checking account.
Bank details checked Nov. 21, 2025.
Advantage Savings account features:
- Minimum opening deposit: $5,000
- Minimum balance: $0
- Monthly fees: $0
- APY: 4.00% with an Advantage Checking account (otherwise 3.50%)
- Transfer limitations: None
Premier Savings account features:
- Minimum opening deposit: $500
- Minimum balance: $0
- Monthly fees: $0
- APY: 0.50% on balances up to $35,000; 0.35% on higher balances
- Transfer limitations: None
Money market accounts
Money market accounts can be thought of as a cross between a savings account (which traditionally comes with higher APY than a checking account) and a checking account (which gives you more flexibility to access your funds).
Presidential Bank offers two MMAs, the Money Market Advantage Checking and the Money Market Checking account. The latter can only be opened in-branch. Each allows you to spend your money via debit card and paper checks. In fact, you’ll receive unlimited free checks with these accounts—something no other Presidential Bank deposit accounts offer.
Bank details checked Nov. 21, 2025.
Money Market Advantage Checking features:
- Minimum opening deposit: $25,000
- Minimum balance: $0
- Monthly fees: $5 (waived with $25,000 balance)
- APY:
- 0.10% on balances under $25,000
- 3.87% on balances between $25,000 and $250,000
- 1.50% on higher balances
- Transaction limitations: None
Money Market Checking features:
- Minimum opening deposit: $1,000
- Minimum balance: $0
- Monthly fees: $5 (waived with $500 balance)
- APY:
- 0.15% on balances under $1,000
- 0.25% on balances of $1,000 to $9,999.99
- 0.30% on balances of $10,000+
- Transaction limitations: None
Certificates of deposit
Presidential Bank offers two types of CDs: Standard and IRA CDs. You can choose from 10 standard CD terms and four IRA CD terms.
These CDs are relatively straightforward (you won’t find specialty options like bump-up, flex, or jumbo CDs), but there’s one curious exception: The 7-month CD requires that you use new money to open it. In other words, you can’t open it with money already stored with Presidential Bank.
Of course, you’ll also be subject to early withdrawal penalties if you try to access money before your account matures. Depending on the length of your account term, you’ll pay between 30 days’ and 24 months’ interest.
Standard CDs
| Term length | APY |
|---|---|
| 30 days | 0.10% |
| 60 days | 0.10% |
| 90 days | 0.10% |
| 182 days | 3.50% |
| 7 months | 4.00% |
| 9 months | 3.88% |
| 12 months | 3.75% |
| 24 months | 3.00% |
| 36 months | 2.85% |
| 60 months | 2.85% |
| 30 days | |
|---|---|
| APY | 0.10% |
| 60 days | |
| APY | 0.10% |
| 90 days | |
| APY | 0.10% |
| 182 days | |
| APY | 3.50% |
| 7 months | |
| APY | 4.00% |
| 9 months | |
| APY | 3.88% |
| 12 months | |
| APY | 3.75% |
| 24 months | |
| APY | 3.00% |
| 36 months | |
| APY | 2.85% |
| 60 months | |
| APY | 2.85% |
Bank details checked as of Nov. 21, 2025
IRA CDs
| Term length | APY |
|---|---|
| 12 months | 4.00% |
| 24 months | 3.00% |
| 36 months | 2.85% |
| 60 months | 2.85% |
| 12 months | |
|---|---|
| APY | 4.00% |
| 24 months | |
| APY | 3.00% |
| 36 months | |
| APY | 2.85% |
| 60 months | |
| APY | 2.85% |
Bank details checked as of Nov. 21, 2025
Other services Presidential Bank offers
Presidential Bank offers more than lucrative deposit accounts. You can also apply for:
- Mortgages: Whether you’re looking to buy a new home or refinance your current home, Presidential Bank has options.
- Home equity line of credit: Borrow the equity you’ve built in your home in the form of a line of credit.
- Lines of credit: Receive a revolving line of credit in exchange for providing collateral to Presidential Bank.
- IRAs: Presidential Bank offers self-direct individual retirement accounts, both traditional and Roth.
Online banking
Presidential Bank offers features common among online banking platforms. You can make payments, transfer funds, view checks, send secure messages to Presidential Bank, and more.
Presidential Bank also offers a mobile app for Apple, Android, and Kindle.
The Presidential Bank platform and customer support
You can reach Presidential Bank customer service with one of two numbers: 800-383-6266 or 240-333-9059. Hours are 8 a.m. to 10 p.m. Eastern Time Monday through Friday. Presidential Bank also has an automated phone service available 24/7 at 800-317-6980. If you’d prefer to email, you can reach the bank at email@presidential.com.
Presidential Bank has branches in Maryland, Virginia, and Washington, DC.
Is Presidential Bank secure?
Presidential Bank uses enhanced login security to help prevent fraudsters from accessing your account. It boasts of its cutting-edge technology and services to keep users safe. It also benefits from FDIC insurance. You’re covered up to $250,000 per account type per depositor.
Presidential Bank user reviews
Customers who have a bad experience with a financial institution are the ones most likely to write an online review. With that in mind, Presidential Bank gets mixed online reports from its customers.
Users on Reddit and other forums praise the bank’s high interest rates and friendly, competent employees. On the other hand, some call out their small physical footprint and report concerning hiccups after account opening.
While not accredited with the Better Business Bureau, Presidential Bank receives a BBB rating of an A- for failure to respond to one complaint.
Compare Presidential Bank alternatives
If Presidential Bank’s limited footprint or generally high minimum deposit and balance requirements give you pause, it’s worth evaluating competing institutions to store your money with. For folks seeking competitive yields and comfortable banking online, two options worth considering are Alliant Credit Union and Discover Bank.