My Banking Direct vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | My Banking DirectHigh Yield Savings Account Jan 7, 2026 | Presidential BankAdvantage Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 3.25% - 3.75% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $500 | $5,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® 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 4.21% APY.
Comparison Analysis
Comparing My Banking Direct vs. Presidential Bank
As of My Banking Direct offers an APY of 4.02% for its High Yield Savings Account, with a minimum balance of $1, compared to Presidential Bank's 3.75% APY for its Advantage Savings account, with a minimum balance of N/A.
My Banking Direct pays $27 more than Presidential Bank on a $10,000 balance after one year. My Banking Direct pays $402, while Presidential Bank pays $375 - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 3.75%) on all balances
- ✓No checking account or direct deposit required
Why Presidential Bank?
- ✓Physical branch access (10 locations in Maryland, Virginia and Washington D.C.)
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $375/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $938/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $27 more interest on a $10,000 balance than Presidential Bank's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the superior choice compared to Presidential Bank's Advantage Savings, which has a lower APY of 3.75%. My Banking Direct's account stands out for its simplicity, requiring no direct deposit or bundling, and has a low minimum deposit of $500. In contrast, the Advantage Savings account necessitates a monthly direct deposit of $500 into an associated Advantage Checking Account to earn the higher APY, along with a minimum deposit of $5,000. Both banks are FDIC insured, but My Banking Direct operates online only.
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
My Banking Direct vs. Presidential Bank Savings Calculator
You earn $27 more with My Banking Direct than Presidential Bank 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.
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
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 | My Banking Direct | Presidential Bank |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 3.75% Range: 3.25% - 3.75% Verified: 1/7/2026 ↘︎ 0.75%90d Change |
| Product Name | High Yield Savings Account | Advantage Savings |
| Minimum Deposit | $500 | $5,000 |
| Min. Balance for APY | $1 | 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 | iOS4.7 Android4.3 | iOS4.8 Android4.2 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Available Native integration; Advantage Savings supports Zelle. |
| BBB Rating | F | A- |
| Next Steps | Visit SiteVerify at My Banking Direct 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 | My Banking Direct | Presidential Bank |
|---|---|---|
| High Yield Savings Account | Advantage Savings | |
Current APY | 4.02% | 3.75% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.9 | -4.5 |
Days Since Change | 53 | 21 |
12-Month High | 4.55% | 4.50% |
12-Month Low | 4.02% | 3.75% |
Adjustments / Mo | 0.49 | 0.25 |
Volatility Score | 0.035 | 0.055 |
How to read these metrics(Click to expand)
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