Discover Bank vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
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 Discover Bank vs. Presidential Bank
Why Discover Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.8 vs 4.1)
Why Presidential Bank?
- ✓Higher potential APY (4.00% vs 3.40%) 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 $340/yr).
Better Returns at $25,000
Presidential BankPresidential Bank's Advantage Savings pulls ahead with larger amounts (approx. $1000 vs $850/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.40% APY with no bundling, direct deposit requirement or caps.
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 $60 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
Executive Summary
Presidential Bank's Advantage Savings account offers a competitive 4.00% APY, requiring a monthly direct deposit of $500 into an Advantage Checking Account, making it ideal for customers seeking an all-in-one banking solution. In contrast, Discover Bank's Online Savings Account provides a solid 3.40% APY with no direct deposit requirement or minimum deposit, appealing to those looking for simplicity and ease of access. While Discover's account has no eligibility restrictions and is online-only, Presidential Bank's option may yield better returns, especially for those with larger deposits. Both accounts are FDIC insured.
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 Discover Bank and Presidential Bank.
| Feature | Discover Bank | Presidential Bank |
|---|---|---|
| APY | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change | 4.00% Range: 3.50% - 4.00% Verified: 12/6/2025 ↘︎ 0.50%90d Change |
| Product Name | Online Savings Account | Advantage Savings |
| Minimum Deposit | $0 | $5,000 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | 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 | iOS4.9 Android4.8 | iOS4.8 Android4.1 |
| BBB Rating | A+ | A- |
| Next Steps |
Savings Comparison
Presidential Bank earns $384.2 more than Discover Bank.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
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 | Discover Bank | Presidential Bank |
|---|---|---|
| Online Savings Account | Advantage Savings | |
Current APY | 3.40% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.8 | -2.3 |
Days Since Change | 67 | 15 |
10-Month High | 3.75% | 4.50% |
10-Month Low | 3.40% | 4.00% |
Adjustments / Mo | 0.38 | 0.19 |
Volatility Score | 0.035 | 0.031 |
How to read these metrics(Click to expand)
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