Primis Bank: Savings Account & Rates
Mission: Banksparency aims to make Primis Bank's savings account transparent and comparable to the market.
Savings Overview
Primis Savings Account
| Min. Deposit | $1 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Bank Overview
- HQ LocationGlen Allen, Virginia
- Founded2005
- AffiliationPrimis Financial Corp. (Nasdaq: FRST) is the holding company for Primis Bank
- Ratings & Trust
- Zelle® SupportAvailableSupports Zelle for personal and small business.
- Deposit InsuranceFDIC Insured(Cert: 57968)
Our Take on Primis Bank
The Good
- Decent APY of 3.85%
- Low opening deposit ($1)
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.7, Android: 4.9)
- Access to physical branches
Considerations
- No physical branch access (online only)
Primis Bank offers a Primis Savings Account with an attractive APY of 3.85%. This account features a low opening deposit requirement of just $1 and has no monthly maintenance fees. Customers can enjoy access to highly rated mobile apps, with scores of 4.7 on iOS and 4.9 on Android. However, it's important to note that Primis deposit accounts are not available in Puerto Rico or other US territories. Additionally, there are no requirements for direct deposit, and the account does not necessitate a checking account. Please be aware that this account is available online only, with no physical branch access.
Savings Account: In-Depth View
Savings Account Offered by Primis Bank
| Feature | Primis Savings Account |
|---|---|
APY | 3.85%Verified: 1/7/2026 |
APY Trend | Very StableNo rate changes in last 90 days |
Min. Deposit | $1 |
Min. Balance | $0 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Monthly |
FDIC Insured | Yes |
Eligibility | United States |
Important | Primis deposit accounts are not available in Puerto Rico or other US territories. |
| Next Steps | - |
Calculate Savings for Primis Bank
Savings Breakdown
- Interest Earned+$1,506.40(9.7%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,506.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Primis Bank Savings Rates Over Time
Historical APY Insights
Last 11 Months| Metric | Primis Savings Account |
|---|---|
Latest APY | 3.85% |
Trend | Falling |
Slope (bps/mo) | -6.4 |
Rate Changes / Mo | 0.18 |
Days Since Last Change | 106 |
High (-11m) | 4.35% |
Low (-11m) | 3.85% |
Draw-down | -11.5% |
Volatility (CV) | 0.055 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 327-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Primis Bank
| Feature | Current View Primis Bank | Empty Slot |
|---|---|---|
| Product | Primis Savings Account | - |
APY | 3.85%Verified: 1/7/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $1 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Monthly | - |
FDIC Insured | Yes | - |
| Note | Primis deposit accounts are not available in Puerto Rico or other US territories. | - |
| Next Steps | - | - |
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