Discover Bank vs Presidential Bank
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of Discover Bank vs. Presidential Bank
As of July 15, 2025 Discover Bank offers an APY of 3.50% for its Online Savings Account account, compared to Presidential Bank's 4.50% APY for its Advantage Savings account.
Presidential Bank yields $100 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $350, while Presidential Bank pays $450 - an APY advantage for Presidential Bank.
Discover Bank
Strengths
- Discover Bank offers an Online Savings Account with a competitive APY of 3.50%.
- Discover Bank has an excellent BBB rating of A+ and is BBB Accredited.
- Discover Bank has no minimum deposit requirement for opening an account.
Potential Drawbacks
- Discover Bank has no physical branches, limiting in-person banking options.
- Discover Bank's APY decreased from 3.60% to 3.50% in the last 30 days.
Presidential Bank
Strengths
- Presidential Bank provides a higher APY of 4.50% for its Advantage Savings account.
- Presidential Bank has 10 physical branches, offering in-person banking services.
Potential Drawbacks
- Presidential Bank requires a $5,000 minimum deposit to open an Advantage Savings account.
- Presidential Bank has a lower BBB rating of B- and is not BBB Accredited.
Summary: Discover Bank offers a lower APY of 3.50% with no minimum deposit and an A+ BBB rating, while Presidential Bank provides a higher APY of 4.50% but requires a $5,000 minimum deposit and has a B- BBB rating. Additionally, Discover Bank operates online only, whereas Presidential Bank has 10 branches for in-person service.
Compare Discover Bank's vs Presidential Bank's Savings Accounts
| Discover Bank | Presidential Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Advantage Savings |
| APY | 3.50% (as of 7/15/2025) | 4.00% - 4.50% (as of 7/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Monthly | |
| Minimum Deposit | $0 | $5,000 | |
| Minimum Balance for APY | $0 | N/A | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | |
| Visit Bank | Online Savings Account | Advantage Savings | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.2/5 | |
| BBB Rating | A+ | B- |
Comparative Historical APY Insights (Last 6 Months)
| Discover Bank | Presidential Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Advantage Savings |
| Latest APY | 3.50 % | 4.50 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.5 | 0.0 | |
| Rate Changes / Mo | 0.51 | 0.00 | |
| Days Since Last Change | 20 | 175 | |
| High (-6 m) | 3.75 % | 4.50 % | |
| Low (-6 m) | 3.50 % | 4.50 % | |
| Draw-down from High | -6.7 % | 0.0 % | |
| Volatility (CV) | 0.022 | 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 175 days.
- Low (-6 m)
- Lowest APY in the last 175 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 Discover Bank vs Presidential Bank
All calculations are based on APY.
Discover Bank
APY: 3.50%
Total savings breakdown:
- Interest earned: $35 (3.38%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.62%)
Your total balance
$1,035.00
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $1,035
Earnings: $35
Bank DetailsPresidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $45 (4.31%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.69%)
Your total balance
$1,045.00
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $1,045
Earnings: $45
Bank DetailsAfter 1 year Discover Bank would earn you $10 less than Presidential Bank.
More Comparisons
Compare Discover Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Discover Bank vs Ally Bank | 3.50% | $0 |
| Discover Bank vs American Express | 3.60% | $0 |
| Discover Bank vs Axos Bank | 4.66% | $0 |
| Discover Bank vs Bank of America | 0.01% | $100 |
| Discover Bank vs Barclays | 4.10% | $0 |
| Discover Bank vs Capital One | 3.50% | $0 |
| Discover Bank vs Chase Bank | 0.01% | $0 |
| Discover Bank vs Chime | 3.75% | $0 |
| Discover Bank vs CIT Bank | 4.00% | $100 |
| Discover Bank vs Fitness Bank | 5.00% | $100 |
| Discover Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Discover Bank vs SoFi Bank | 3.80% | $0 |
| Discover Bank vs Synchrony Bank | 3.80% | $0 |
| Discover Bank vs Varo Bank | 5.00% | $0 |
| Discover Bank 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 | 3.60% | $0 |
| Presidential Bank vs Axos Bank | 4.66% | $0 |
| Presidential Bank vs Bank of America | 0.01% | $100 |
| 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 Fitness Bank | 5.00% | $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 Varo Bank | 5.00% | $0 |
| Presidential Bank vs Wells Fargo | 2.51% | $25 |