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Presidential Bank Review

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Presidential Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1985, Presidential Bank has $559 million in assets along with $491 million in deposits, which makes the institution a medium-size bank. Presidential Bank, whose headquarters are in Bethesda, Maryland, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at a commendable 4.2 stars out of 5, Presidential Bank is a great choice and should warrant serious consideration. Presidential Bank has the complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. The bank's standard checking account features a $100.00 monthly fee, making it a rather expensive bank for checking. Banks that offer no-fee checking and a high savings APY are the best option for returning the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Presidential Bank has a savings rate of 0.25%, which is poor in comparison to the average U.S. bank. Presidential Bank's one-year and five-year term lengths CDs earn at a rate of 2.25% and 3.25%, respectively, while its highest-yielding money market account has a rate of 0.30%. Given Presidential Bank's noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Presidential Bank's Savings Rates Compare

Presidential Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Presidential Bank generally has average fees compared to the average U.S. bank. Presidential Bank's checking account has a monthly fee of $100.00, ranking it fair for anyone looking for a hassle-free account. For those who often withdraw money from the ATM, it is perfect because it charges no out-of-network ATM fees. Additionally, Presidential Bank has an overdraft fee of $25.00, which is noticeably lower than that of other U.S. banks. Presidential Bank does not reimburse out-of-network ATM fees, meaning you will have to search for a Presidential Bank ATM or eat the withdrawal fee.

Monthly Fee $100.00 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Presidential Bank is a brick-and-mortar bank, with 10 total branches in District of Columbia and Virginia. With mobile and web apps, Presidential Bank makes mobile banking easy, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 10:00 p.m. ET. Presidential Bank gets high praise from users for its mobile platform. The Presidential Bank mobile app scored a 4.5 out of 5 (with 140 ratings on Apple and Android) compared to the national average of 3.8. Presidential Bank's mobile app lets you control your funds by looking at monthly statements, transferring funds as well as reaching support representatives. Presidential Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Presidential Bank is a medium-size bank owning assets totaling $559 million and $491 million in deposits. Presidential Bank has a strong Texas Ratio of 16.12%, signifying a tiny possibility of failure. Additionally, Presidential Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Presidential Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1000
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.75% APY
  • 60 Month: 3.25% APY
$1000 for all terms
Money Market Account 0.3% APY $10000

Presidential Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Presidential Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Presidential Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Presidential Bank Near Me

Presidential Bank has 10 physical branches in the U.S.

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