Presidential Bank offers their Premier Savings, their high yield savings account, that earns 1.25% APY for balances through $35,000. Fund above the $35K earn 0.75% APY. The bank requires an initial deposit of $5000.

The bank does not collect any monthly service fees nor do they require any maintaining balance requirements for this best interest rate savings account.

Other perks of this money in the bank deal are free online banking, online archive of your bank statements, online copy of your checks and deposit transactions, and email deposit confirmation.

Interested consumers can start the application online. The bank will send the signature card to be accomplished and may ask for a copy of your driver’s license or any valid proof of identification.

The bank has an ACH transfer facility which you can immediately use after registration. The standard transfers for incoming or outgoing funds are free and will take 4 days to process. The daily limit for these transfers is $15,000 and $25,000 monthly

Earnings of the savings account are compounded and credited on a monthly basis. As regulated by law, non-ATM withdrawals are limited to only six per month with checks issued not exceeding three.

The interest rates of savings have dramatically fallen in the past several months but what Presidential offer is very competitive and is within striking distance from the national average of current interest rates for savings account.

The bank is insured with the FDIC since 1985.