Compound Interest Calculator
Savings Account from Primis Bank with 3.85% APY and $1 minimum deposit

I loved this bank for about 3 years but the saving rate is now below 4% . THERE CHECKING ACCOUNT with 3.85% still is tops as of March 2026

Good luck deploying those high yield savings into profitable investments. It’s always a bad strategy … unbridled growth using volatile deposits forcing them to go out on the risk spectrum to make a decent yield. It will eventually impact their capital ratios and lead to Regulatory issues. Primis stock is trading at 80% of tangible book value which is one of the lowest in the country. Market cap has plummeted below $250 million making the stock ineligible for margin.

Having had accounts at 68 DIFFERENT BANKS & CREDIT UNIONS in my life, I may have become an expert on good and bad services. Here is why I've given Primis 4 stars:
1. Interest rate. Like many who have recently complained about being able to reach someone by phone, when I found their offer of 5.03% APY, I tried to get an agent on the phone. Wait times were insane so I gave up.
2. Decided to see what Primis application process was like AND hoped it would reveal the answer to some of my questions. I was VERY pleasantly surprised at how easy & fast the process was. IMHO, Primis has THE BEST online application system I've ever used. The presented documents DID answer all my questions.
3. Funding. One of my biggest gripes with ALL previous banks has been their limits on ACH transfers in and out. Primis has NO LIMITS, meaning you can have as many linked banks as you want and transfer $millions if you want in or out.
4. Interest payments. This is one area I wish Primis would change. Instead of posting interest at the end of the month like EVERY other financial institution I've experienced, they do it on the 15th of each month. I've asked if this can be changed. As of today, NO RESPONSE.
5. The banks database being used by Primis for linked accounts is NOT the best. I linked another bank account using correct ABA 9 digit routing code but Primis shows a bank name that no longer exists due to mergers years ago.
BOTTOM LINE: Primis isn't perfect and neither are any of us. However, offering the best interest rate and best ACH system is why I rate Primis 4 out of 5 stars and will keep a sizeable amount in my Primis account unless these things change.

Biggest mistake I ever made was to jump into this when they launched at 5%. A week later they dropped the rate and I've been trying to unwind out of this nonsense since then. I'll be more inclined to stick with the better known names, like Synchrony and Citizens, even it is means I am making 0.30% less on my cash.

Applied last week. They made me provide ssn, dob, upload three forms of id, and link to another bank account, providing password and texted security code. All of that was concerning given identity theft. Then, after complying with all of these extreme requests, webpage says my application is under consideration. Have heard nothing back yet.