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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


Presidential Bank first started operating in 1985 and has its headquarters in Bethesda, Maryland. Presidential Bank has assets of $559 million along with $491 million in deposits, classifying it as a medium-size bank. Presidential Bank lacks premium access to support representatives, with no live chat or all-day service options available. 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. At a SmartAsset rating of 4.2 out of 5 stars, Presidential Bank should be solidly in contention for your choice of bank. Presidential Bank has a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Presidential Bank has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a monthly fee of $100.00, making it a rather pricey bank for checking. Banks that offer free checking, in addition to a high interest rate savings account are your best option for gaining the most income on your deposits alongside 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

With a savings rate of 0.25%, Presidential Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 2.25% and the five-year CD has a rate of 3.25%, while its highest-yielding money market account has an APY of 0.30%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

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 charges customers average fees as compared against the national average. At $100.00/month, Presidential Bank's checking account is less than great for those who need an easy banking experience. For those who will need cash in a pinch, Presidential Bank is perfect because it charges no out-of-network ATM fees. Also, Presidential Bank has an overdraft fee of $25.00, which is considerably lower than that of other U.S. banks. Presidential Bank unfortunately doesn't refund out-of-network ATM charges, meaning you'll have to search for a Presidential Bank ATM or pay the 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 bank locations in District of Columbia and Virginia. With mobile and web apps, Presidential Bank makes mobile banking straightforward, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 10:00 p.m. ET. Presidential Bank receives high praise from users for its mobile platform. Out of 140 customer reviews on both iOS and Android platforms, the Presidential Bank mobile app has an overall rating of 4.5 out of 5 (compared to the national average of 3.8). You can utilize Presidential Bank's mobile app to control your accounts by reviewing account balances, sending and receiving funds and accessing support representatives. Presidential Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 currently a medium-size bank owning assets totaling $559 million and $491 million in deposits. Presidential Bank's Texas Ratio is 16.12%, suggesting that the bank is in fine financial health and far from 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 to give you many options to manage your money. Presidential Bank does not have the best savings rate, which means you should think about other options 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 compared to the national average.

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Find a Presidential Bank Near Me

Presidential Bank has 10 branches across the U.S.

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