Bank Of America vs Presidential Bank
High-Yield Savings Accounts Comparison

Last Updated: August 29, 2025

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Summary of Bank of America vs. Presidential Bank

As of August 29, 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 fee for the Advantage Savings account under certain conditions.

Potential Drawbacks

  • Current APY is only 0.01%, unchanged from 30 days ago.
  • Bank of America has no branches, limiting in-person access.

Presidential Bank

Strengths

  • Presidential Bank offers a high APY of 4.5%, unchanged from 30 days ago.
  • No maintenance fee for the Advantage Savings account.

Potential Drawbacks

  • Requires a minimum deposit of $5,000 to open the Advantage Savings account.
  • Not BBB Accredited and has a lower BBB rating of A-.
Summary: Bank of America provides a low APY of 0.01% with no branch access and a higher App Store rating. In contrast, Presidential Bank offers a competitive APY of 4.5% but requires a $5,000 minimum deposit and lacks BBB accreditation. Both banks have no maintenance fees under certain conditions, making them accessible options for savers.

Compare Bank of America's vs Presidential Bank's Savings Accounts

Bank of AmericaPresidential Bank
ProductAdvantage SavingsvsAdvantage Savings
APY
0.01% (as of 8/29/2025)4.00% - 4.50% (as of 8/29/2025)
Bundled Account
NoYes
FDIC-insured
YesYes
Online OnlyNoNo
Compound Frequency
MonthlyMonthly
Minimum Deposit$100$5,000
Minimum Balance for APYN/AN/A
Maintenance Fee$8$0
Direct Deposit Required
NoYes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.
NoteAPY 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 Rating4.8/54.8/5
Google Play Rating4.6/54.2/5
BBB RatingA+A-

Comparative Historical APY Insights (Last 7 Months)

Bank of AmericaPresidential Bank
ProductAdvantage SavingsvsAdvantage Savings
Latest APY0.01 %4.50 %
TrendSidewaysSideways
Slope (bps/mo)0.00.0
Rate Changes / Mo0.000.00
Days Since Last Change213213
High (-7 m)0.01 %4.50 %
Low (-7 m)0.01 %4.50 %
Draw-down from High0.0 %0.0 %
Volatility (CV)0.0000.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 7 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 (-7 m)
Highest APY in the last 214 days.
Low (-7 m)
Lowest APY in the last 214 days.
Draw-down from High
How far today sits below the 7-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 Overview

Presidential 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 Overview

With 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
Compare Presidential Bank's APY of 4.50% with other banks