Primis Savings Account

Primis Bank is the consumer brand of Primis Financial Corp, a Virginia-based bank with physical branches in Virginia and Maryland and an online deposit platform open nationwide, though not in Puerto Rico or other US territories. Its savings account pays 3.85% APY (3.78% interest rate) on all balances, with rates effective December 1, 2025 and still posted as of August 2026. The account is aggressively simple: $1 minimum opening deposit, no minimum balance to earn the APY, no monthly fees, no transaction limits, and no cap on the balance that earns interest. Primis refunds incoming wire fees on request, and an extended FDIC coverage program can insure balances beyond the standard $250,000 through a partner bank network. Fee-free checking is available at the same bank, which makes Primis closer to a full bank than most savings-only competitors. Primis made its savings reputation in 2023, when its account was the first nationally available savings account to reach 5.00% APY, per DepositAccounts. It has drifted down the table since: the current 3.85% has now been in place since December 2025 while the August 2026 market leaders pay 4.00% to 4.15%. The rate is variable, and Primis tells customers to log in to confirm their current rate, so treat the posted number as indicative rather than locked. Practical fine print: the account is online-only unless you live near a Virginia or Maryland branch, and cash deposits are only accepted at those branches and their ATMs. Primis also warns that accessing your account from outside the United States requires special arrangements, so frequent international travelers should read the disclosures first. Daily ATM withdrawals on linked Primis accounts are capped below $1,000. Primis fits savers who want a near-top rate with genuinely zero fee friction, a $1 entry point, and the option of pairing savings with free checking and extended FDIC coverage at one institution. Skip it if you want today's absolute best rate or live abroad part of the year: the 3.85% is solid but no longer market-leading, and the international access caveat is a real operational annoyance for expats.