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Provident Bank Review

Updated April 28, 2025
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At a glance

Overview

Provident Bank is a reasonable option for savers looking for a brick-and-mortar bank primarily in and around New Jersey 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 Low Min Deposit
3.4
Rating: 3.4 stars out of 5
Bankrate Score

CDs

Rating: 3.3 stars out of 5
3.3 /5

Checking

Rating: 4.3 stars out of 5
4.3 /5

Savings

Rating: 2.5 stars out of 5
2.5 /5

MMA

Rating: 2.4 stars out of 5
2.4 /5
Sponsored offers

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.30
%
APY
As of 4/30/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
Bank logo
Member FDIC
Savings Account
3.60
%
APY
As of 4/30/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.20
%
APY
As of 4/30/2025
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No fees. Easy deposits and quick withdrawals.

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 accounts, savings accounts and certificates of deposit options to appeal to a wide base of customers. That said, most of Provident Bank’s deposit accounts offer paltry APYs; you can easily find better rates elsewhere.

Pros

  • Checkmark Icon

    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.

  • Checkmark Icon

    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.

  • Checkmark Icon

    Customers can qualify for domestic ATM fee/surcharge refunds, although several factors must be met each month.

  • Checkmark Icon

    The Smart Checking account comes with a robust APY for balances under $15,000.

Cons

  • Yields on many of Provident’s basic accounts are underwhelming.

  • Most accounts closed within six months of opening will be charged a $15 early closure fee.

  • Provident Bank still charges a hefty $35 overdraft fee.

Provident Bank banking products

Provident Bank savings overview

2.5
/5
Rating: 2.5 stars out of 5

Pros

  • Checkmark Icon

    The minimum opening deposits are quite low, so it’s easy to get started.

  • Checkmark Icon

    The Young Saver account requires just $0.01 to earn interest.

  • Checkmark Icon

    The monthly service fee is relatively low and easily waived.

Cons

  • Most accounts offer a paltry APY.

  • You need $5,000 in combined balances to earn interest in the Provident Platinum MoneyManager account, and the yield is only slightly higher.

  • The Statement Savings account has a $3 monthly fee when the monthly balance falls below $250.

Provident Bank CD overview

3.3
/5
Rating: 3.3 stars out of 5

Pros

  • Checkmark Icon

    The minimum deposit to open a CD is quite low.

  • Checkmark Icon

    There’s a large swath of CD terms to pick from.

  • Checkmark Icon

    Some CD terms offer a robust APY.

Cons

  • Some rates are close to the national average, but higher rates can be found elsewhere.

  • CDs can only be opened at a branch.

  • None of the CD rates are posted online

Provident Bank money market overview

2.4
/5
Rating: 2.4 stars out of 5

Pros

  • Checkmark Icon

    The account comes with some check-writing privileges.

  • Checkmark Icon

    No limits on the number of transactions or withdrawals made in person or at an ATM.

Cons

  • The APYs are very low, even though the account is tiered.

  • There’s a $10 monthly fee, though it can be waived.

  • You can only write three checks per month before being charged a $10 fee for each additional check.

Provident Bank checking overview

4.3
/5
Rating: 4.3 stars out of 5

Pros

  • Checkmark Icon

    A wide variety of checking options are offered.

  • Checkmark Icon

    Many of the accounts offer ATM fee refunds if certain conditions are met.

  • Checkmark Icon

    Qualifying for the high APY on the Smart Checking account can help maximize your savings.

  • Checkmark Icon

    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 is expensive at $35 per overdrawn transaction.

  • You must meet a list of requirements to get cash back.

  • After the fifth check on the Basic Checking account, you’ll be charged $0.50 per check

Bank fees

Fee Charged?
Overdraft fee $35
Non-sufficient funds fee None
Monthly maintenance fees $0 - $10
Out-of-network ATM fee None
Excessive transaction fee $10 - 15

Customer experience

Customer service. 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. ET, and Saturdays, 9 a.m. to 2 p.m ET.

Digital experience. Provident Bank offers many of the most popular digital banking services available these days, including mobile and online banking, Zelle and Apple Pay (only for Provident Debit Mastercard users). The bank’s mobile app has received favorable scores by reviewers in the Apple App Store and Google Play store.

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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. Read our full review methodology.