Primis Bank: Savings Accounts & Rates

Savings rates updated: 8/11/2025

Mission statement: Banksparency aims to make Primis Bank's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

Note: Interest rates below are reported as APY, or Annual Percentage Yield

We earn a commission if you open an account through some links on this page.

Savings Overview

Primis Savings Account: 4.20% APY(Rank 32 out of 79 tracked HYSAs)

Minimum Deposit: $1 | Online Only

National Savings Interest Rate: 0.38% (as of 7/21/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: Glen Allen, Virginia

Founded: 2005

Affiliation: Primis Financial Corp. (Nasdaq: FRST) is the holding company for Primis Bank

Access to Branches: Locations in Virginia

Deposit Insurance: FDIC Cert # 57968

BBB Rating: A+ (Not BBB Accredited)

App Store Rating: 4.6/5

Google Play Rating: 4.5/5

Website: Visit Primis Bank

Our Take on Primis Bank

Highlights

Current APY of 4.20%, slightly lower than 30 days ago (4.35%)
No maintenance fees or minimum balance requirements
High BBB rating of A+, indicating trustworthiness
App Store rating of 4.6 and Google Play rating of 4.5

Considerations

Account is online only, limiting access for some users
Not available in Puerto Rico or other US territories
Not BBB Accredited, despite high rating
No direct deposit requirement may limit some features

Summary: Primis Bank offers a competitive APY of 4.20% for its online-only Primis Savings Account, which has no maintenance fees or minimum balance requirements. The bank has an A+ BBB rating, though it is not BBB Accredited. With branch locations in Virginia and high app ratings, it appeals to many savers. However, the account is not available in Puerto Rico or other territories, and the online-only nature may deter some customers.

Savings Account: In-Depth View

Savings Account Offered by Primis Bank

Feature	Primis Savings Account
APY	4.20% (as of 8/11/2025)
APY Trend	-0.15% MoM
Minimum Deposit	$1
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Monthly
Maintenance Fee	$0
Eligibility	United States
Note	Primis deposit accounts are not available in Puerto Rico or other US territories.
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Primis Bank

All calculations are based on APY.

Savings Product:

Primis Savings Account (APY: 4.20%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,650.7 (10.55%)
Total contributions: $13,000 (83.06%)
Initial deposit: $1,000 (6.39%)

Your total balance

$15,650.70

Effective APY: 4.20% (based on your deposit and contributions)

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

Metric	Primis Savings Account
Latest APY	4.20 %
Trend	Sideways
Slope (bps/mo)	-2.0
Rate Changes / Mo	0.17
Days Since Last Change	25
High (-6 m)	4.35 %
Low (-6 m)	4.20 %
Draw-down from High	-3.4 %
Volatility (CV)	0.012

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 6 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-6 m): Highest APY in the last 178 days.
Low (-6 m): Lowest APY in the last 178 days.
Draw-down from High: How far today sits below the 6-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare Primis Bank's Savings Account

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Feature	Primis Bank	Select a bank...
Product	Primis Savings Account	N/A
APY	4.20% (as of 8/11/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Monthly	N/A
Minimum Deposit	$1	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A
Note	Primis deposit accounts are not available in Puerto Rico or other US territories.	N/A