Bank Of America vs Presidential Bank
High-Yield Savings Accounts Comparison
Last Updated: August 8, 2025
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Summary of Bank of America vs. Presidential Bank
As of August 8, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, compared to Presidential Bank's 4.50% APY for its Advantage Savings account.
Presidential Bank yields $449 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Presidential Bank pays $450 - an APY advantage for Presidential Bank.
Bank of America
Strengths
- Bank of America has a higher App Store rating at 4.8.
- No maintenance fees for maintaining a minimum balance of $500.
- No direct deposit requirement for the Advantage Savings account.
Potential Drawbacks
- The current APY for Bank of America is only 0.01%.
- Bank of America has no physical branches.
Presidential Bank
Strengths
- Presidential Bank offers a competitive APY of 4.5%.
- Presidential Bank has 10 branches in Maryland, Virginia, and D.C.
- No maintenance fees for the Advantage Savings account.
Potential Drawbacks
- Presidential Bank has a lower App Store rating of 4.8 compared to Bank of America.
- A $5,000 minimum deposit is required to open the Advantage Savings account.
- The BBB rating for Presidential Bank is B- and it is not BBB Accredited.
Summary: Bank of America offers a low APY of 0.01% with no maintenance fees and no direct deposit requirement, but lacks branches. In contrast, Presidential Bank provides a much higher APY of 4.5% with 10 physical locations, though it requires a $5,000 minimum deposit and has a lower BBB rating. Both banks have similar App Store ratings, but Presidential Bank's Google Play rating is notably lower.
Compare Bank of America's vs Presidential Bank's Savings Accounts
| Bank of America | Presidential Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Advantage Savings |
| APY | 0.01% (as of 8/8/2025) | 4.00% - 4.50% (as of 8/8/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | No | |
| Compound Frequency | Monthly | Monthly | |
| Minimum Deposit | $100 | $5,000 | |
| Minimum Balance for APY | N/A | N/A | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | No | Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | |
| Note | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.2/5 | |
| BBB Rating | A | B- |
Comparative Historical APY Insights (Last 6 Months)
| Bank of America | Presidential Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Advantage Savings |
| Latest APY | 0.01 % | 4.50 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 194 | 194 | |
| High (-6 m) | 0.01 % | 4.50 % | |
| Low (-6 m) | 0.01 % | 4.50 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
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 194 days.
- Low (-6 m)
- Lowest APY in the last 194 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.
Calculate Savings Growth for Bank of America vs Presidential Bank
All calculations are based on APY.
Bank of America
APY: 0.01%
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewPresidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,754.4 lower than Presidential Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Bank of America's APY of 0.01% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Bank of America vs Ally Bank | 3.50% | $0 |
| Bank of America vs American Express | 3.50% | $0 |
| Bank of America vs Axos Bank | 4.46% | $0 |
| Bank of America vs Barclays | 4.10% | $0 |
| Bank of America vs Capital One | 3.50% | $0 |
| Bank of America vs Chase Bank | 0.01% | $0 |
| Bank of America vs Chime | 3.75% | $0 |
| Bank of America vs CIT Bank | 4.00% | $100 |
| Bank of America vs Discover Bank | 3.50% | $0 |
| Bank of America vs Fitness Bank | 4.85% | $100 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Synchrony Bank | 3.80% | $0 |
| Bank of America vs UFB Direct | 4.21% | $5000 |
| Bank of America vs Varo Bank | 5.00% | $0 |
| Bank of America vs Wells Fargo | 2.51% | $25 |
Compare Presidential Bank's APY of 4.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Presidential Bank vs Ally Bank | 3.50% | $0 |
| Presidential Bank vs American Express | 3.50% | $0 |
| Presidential Bank vs Axos Bank | 4.46% | $0 |
| Presidential Bank vs Barclays | 4.10% | $0 |
| Presidential Bank vs Capital One | 3.50% | $0 |
| Presidential Bank vs Chase Bank | 0.01% | $0 |
| Presidential Bank vs Chime | 3.75% | $0 |
| Presidential Bank vs CIT Bank | 4.00% | $100 |
| Presidential Bank vs Discover Bank | 3.50% | $0 |
| Presidential Bank vs Fitness Bank | 4.85% | $100 |
| Presidential Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Presidential Bank vs SoFi Bank | 3.80% | $0 |
| Presidential Bank vs Synchrony Bank | 3.80% | $0 |
| Presidential Bank vs UFB Direct | 4.21% | $5000 |
| Presidential Bank vs Varo Bank | 5.00% | $0 |
| Presidential Bank vs Wells Fargo | 2.51% | $25 |