Bank of America vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | Presidential BankAdvantage Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.25% - 3.75% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $100 | $5,000 |
Snapshot view. Rates subject to change. | ||
Terms | 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. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDirect Deposit ReqChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Bank of America vs. Presidential Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Presidential Bank's 3.75% APY for its Advantage Savings account, with a minimum balance of N/A.
Presidential Bank pays $374 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Presidential Bank pays $375 - an APY advantage for Presidential Bank.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.2)
Why Presidential Bank?
- ✓Higher potential APY (3.75% vs 0.01%) (requires checking bundle & direct deposit)
- ✓Physical branch access (10 locations in Maryland, Virginia and Washington D.C.)
— Key Feature Differences —
Better Returns at $10,000
Presidential BankPresidential Bank's Advantage Savings earns more on smaller deposits (approx. $375 vs $1/yr).
Better Returns at $25,000
Presidential BankPresidential Bank's Advantage Savings pulls ahead with larger amounts (approx. $938 vs $3/yr).
Best for All-in-One Banking
Presidential BankPresidential Bank's Advantage Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Presidential Bank's Advantage Savings pays $374 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Presidential Bank offers a significant advantage with its Advantage Savings account, boasting an impressive APY of 3.75%, which requires a monthly direct deposit of $500 into an Advantage Checking Account. In contrast, Bank of America's Advantage Savings account yields only 0.01% APY, with a minimum deposit of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. While Bank of America does not require direct deposit, its savings product falls far short in terms of returns compared to Presidential Bank's offering.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Bank of America vs. Presidential Bank Savings Calculator
You earn $374 more with Presidential Bank than Bank of America on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Presidential Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 3.75% Range: 3.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.75%90d Change |
| Product Name | Advantage Savings | Advantage Savings |
| Minimum Deposit | $100 | $5,000 |
| Min. Balance for APY | N/A | N/A |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Direct Deposit Req. | None | RequiredTo earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.2 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Native integration; Advantage Savings supports Zelle. |
| BBB Rating | A+ | A- |
| Important Notes | 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. | - |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Presidential Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Presidential Bank |
|---|---|---|
| Advantage Savings | Advantage Savings | |
Current APY | 0.01% | 3.75% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -5.6 |
Days Since Change | 36 | 35 |
12-Month High | 0.03% | 4.50% |
12-Month Low | 0.01% | 3.75% |
Adjustments / Mo | 0.17 | 0.25 |
Volatility Score | 0.120 | 0.063 |
How to read these metrics(Click to expand)
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