Provident Bank Review 2023
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At a glance

CDs
Checking
Savings
About Bankrate Score
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

Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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
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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.
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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.
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Customers can qualify for domestic ATM fee/surcharge refunds, although several factors must be met each month.
Cons
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Yields on basic accounts are a little underwhelming, but higher rates can be found with Provident’s Platinum offerings, which have tiered interest rates.
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The bank’s app is rated below average on both Apple’s App Store and the Google Play Store.
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Most accounts closed within six months of opening will be charged a $15 early closure fee.
Provident Bank bank products
Provident Bank savings overview
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
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The minimum opening deposits are quite low, so it’s easy to get started.
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If you have at least five figures to stash in the Power Savings account, you can get a big boost to your APY.
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There are no fees on transfers to another Provident deposit account.
Cons
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The portion of your balance below $10,000 earns a much lower interest rate in the Power Savings account.
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The Statement Savings account has a $3 monthly fee when the monthly balance falls below $250.

Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank 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
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.