Bank of America vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Bank of America
Advantage Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
Presidential Bank
Advantage Savings
Up to4.00%APYDec 6, 2025FDIC InsuredMod. MinimumDirect Deposit ReqChecking BundleGreat iOS AppGreat Android AppIn-Person AccessRange: 3.50% – 4.00%Show Fine Print & Trends Hide Details
Presidential Bank
Advantage Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Bank of America vs. Presidential Bank
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.1)
Why Presidential Bank?
- ✓Higher potential APY (4.00% vs 0.01%) on all balances
- ✓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. $400 vs $1/yr).
Better Returns at $25,000
Presidential BankPresidential Bank's Advantage Savings pulls ahead with larger amounts (approx. $1000 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 $399 more interest on a $10,000 balance than Bank of America's Advantage Savings.
Executive Summary
Presidential Bank offers a significantly higher APY of 4.00% on its Advantage Savings account, which requires a monthly direct deposit of $500 into an Advantage Checking Account, making it a strong choice for those who meet the eligibility criteria. In contrast, Bank of America provides an Advantage Savings account with a much lower APY of 0.01%, and while it has a lower minimum deposit requirement of $100, it does not require direct deposit. Additionally, Bank of America charges an $8 monthly maintenance fee, which can be waived under certain conditions. Overall, for those who can meet the requirements, Presidential Bank is the clear winner.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Bank of America and Presidential Bank.
| Feature | Bank of America | Presidential Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 Stable (90d) | 4.00% Range: 3.50% - 4.00% Verified: 12/6/2025 ↘︎ 0.50%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 Android4.1 |
| 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 |
Savings Comparison
Presidential Bank earns $2,429 more than Bank of America.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$2,434.70(11.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,434.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Presidential Bank |
|---|---|---|
| Advantage Savings | Advantage Savings | |
Current APY | 0.01% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -2.4 |
Days Since Change | 311 | 15 |
10-Month High | 0.01% | 4.50% |
10-Month Low | 0.01% | 4.00% |
Adjustments / Mo | 0.00 | 0.19 |
Volatility Score | 0.000 | 0.031 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Bank of America vs...
Comparing against Standard Savings
Compare Presidential Bank vs...
Comparing against other Bundled Accounts