Provident Bank Review 2022 Bankrate
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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Choosing the Provident Power Savings account provides a higher interest rate for the portion of your balance above $10,000. Yields for balances below that mark, however, are much lower. The account has no fees or service charges and comes with a basic debit card.
There’s also a Young Saver account and a Provident Platinum Money Manager account that links to a Provident checking account and boost yields for higher balances.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The Smart Checking account is a rewards-based account that earns an exceptional APY on balances up to $15,000. It also gives domestic ATM fee/surcharge refunds as long as certain requirements are met, including 10 monthly debit purchases, a routine direct deposit, maintaining a ProvidentConnect Online Banking relationship and opting for electronic statements.
Many of Provident's checking accounts offer ATM fee refunds if certain conditions are met.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Provident BankProvident Bank Review 2022
Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.8 Bankrate Score CDs Checking Savings About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Provident Bank is a reasonable option for savers looking for a brick-and-mortar bank that offers low fees and a wide range of products and services. Customers looking to avoid ATM fees will find a good match here, but yields could be a bit more competitive overall.Highlights
ATM Fee Refunds Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Provident Bank has a sizable branch presence in New Jersey, a few locations in Pennsylvania and one in New York. it offers numerous checking account options and enough savings products to appeal to a wide base of customers. The bank does a good job of minimizing those pesky fees that consumers generally loathe.Pros
There are no monthly service fees on most accounts, and the requirements to waive monthly fees are attainable on the accounts that do charge a fee. If you live in northern or central New Jersey, it should be fairly easy to find a branch close to you where you can bank in person. Customers can qualify for domestic ATM fee/surcharge refunds, although several factors must be met each month.Cons
Yields on basic accounts are a little underwhelming, but higher rates can be found with Provident’s Platinum offerings, which have tiered interest rates. The bank’s app is rated below average on both Apple’s App Store and the Google Play Store. Most accounts closed within six months of opening will be charged a $15 early closure fee.Provident Bank bank products
Savings CD Checking 2.4 Bankrate ScoreProvident Bank savings overview
Provident Bank offers a few different options for savers. The Statement Savings account requires only $50 to open and to start earning interest. The monthly minimum balance to avoid a $3 service fee is $250. The APY is easy to beat if you shop around.Choosing the Provident Power Savings account provides a higher interest rate for the portion of your balance above $10,000. Yields for balances below that mark, however, are much lower. The account has no fees or service charges and comes with a basic debit card.
There’s also a Young Saver account and a Provident Platinum Money Manager account that links to a Provident checking account and boost yields for higher balances.
Pros
The minimum opening deposits are quite low, so it’s easy to get started. If you have at least five figures to stash in the Power Savings account, you can get a big boost to your APY. There are no fees on transfers to another Provident deposit account.Cons
The portion of your balance below $10,000 earns a much lower interest rate in the Power Savings account. The Statement Savings account has a $3 monthly fee when the monthly balance falls below $250. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 3.4 Bankrate ScoreProvident Bank CD overview
Provident Bank offers nine different terms of CDs ranging from 91 days to five years. Just $500 is needed to open one, but watch out for some costly early withdrawal penalties if the principal is withdrawn before the maturity date.Pros
It doesn’t take much money to open a CD. There’s a good choice of shorter- and longer-term CDs.Cons
Rates are close to the national average, but higher rates can be found elsewhere. CDs can only be opened at a branch. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 4.7 Bankrate ScoreProvident Bank checking overview
Provident Bank offers checking account options that meet different needs. Whether you’re looking for free checking, a high-yield account or even cash back and rewards, you’ll likely find something suitable here.The Smart Checking account is a rewards-based account that earns an exceptional APY on balances up to $15,000. It also gives domestic ATM fee/surcharge refunds as long as certain requirements are met, including 10 monthly debit purchases, a routine direct deposit, maintaining a ProvidentConnect Online Banking relationship and opting for electronic statements.
Many of Provident's checking accounts offer ATM fee refunds if certain conditions are met.
Pros
A wide variety of checking options are offered. Many of the accounts offer ATM fee refunds if certain conditions are met. Qualifying for the high APY on the Smart Checking account can help maximize your savings. The Cash Back Checking account provides a solid reward on qualifying debit purchases and there are no limits on the amount of cash back you can accumulate.Cons
Outside of New Jersey and eastern Pennsylvania, finding access to in-network ATMs is difficult. The overdraft fee of $35 isn’t the worst you’ll find, but a lot of other banks will lower this charge or even limit the number of times they charge the fee per day. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Provident Bank offers many of the most popular digital banking services available these days, including mobile and online banking, BillPay, Zelle and Apple Pay, for example. The bank’s mobile app has received favorable scores by reviewers in the Apple App Store and Google Play store. Customers can reach customer service representatives by email or over the phone. Telephone hours are somewhat limited: Monday through Friday, 8 a.m. to 7 p.m., and Saturdays, 9 a.m. to 2 p.m.About Provident Bank
Provident Bank is a Jersey City, New Jersey-based institution that has been around since 1839. It has more than 100 branches spanning New Jersey, parts of Pennsylvania and a small section of New York. Customers can access a wide variety of banking products, including checking and savings accounts, CDs, mortgages, credit cards and investments. Provident Bank’s parent company, Provident Financial Services, is publicly traded. It acquired SB One Bank in 2020 and is now one of the largest banks in New Jersey.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .