Primis Bank

Last Updated: 6/20/2025

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

Quick Views

Primis Savings Account: 4.35% APY(Rank 14 out of 74 tracked HYSAs)

Minimum Deposit: $1 | Online Only

National Savings Interest Rate: 0.42% (as of 5/19/2025)

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

BBB Rating: A+ (Not BBB Accredited)

App Store Rating: 4.5/5

Google Play Rating: 4.1/5

Website: Visit Primis Bank

Our Take on Primis Bank

Highlights

Current APY is 4.35%, unchanged from 30 days ago.
No maintenance fees for the Primis Savings Account.
A+ BBB rating indicates strong trustworthiness.
App Store rating is 4.5, indicating user satisfaction.

Considerations

Not BBB Accredited, which may concern some savers.
Direct deposit is not required, but may limit options.
Only available online; no physical branches outside Virginia.
Primis deposit accounts not available in Puerto Rico or US territories.

Summary: Primis Bank offers a competitive APY of 4.35% for its online-only savings account, with no maintenance fees. While the bank has an A+ BBB rating, it is not accredited. Potential customers should note that the account is only available online and not in certain U.S. territories. The bank's app ratings are favorable, reflecting good user experiences, but the lack of physical branches may deter some savers.

Savings Account

Savings Account Offered by Primis Bank

Feature	Primis Savings Account
APY	4.35% (as of 6/20/2025)
APY Trend	Stable for the last month
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.
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: 4.35%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $4 (3.85%)
Total contributions: $0 (0.00%)
Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 4.35% (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	4.35 %
Trend	Sideways
Slope (bps/mo)	-0.0
Rate Changes / Mo	0.00
Days Since Last Change	126
High (-4 m)	4.35 %
Low (-4 m)	4.35 %
Draw-down from High	0.0 %
Volatility (CV)	0.000

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 4 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 (-4 m): Highest APY in the last 126 days.
Low (-4 m): Lowest APY in the last 126 days.
Draw-down from High: How far today sits below the 4-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	4.35% (as of 6/20/2025)	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