Does Convenience Outweigh Lower Rates?


Provident Bank is a full-service bank based in New Jersey that serves New Jersey and Pennsylvania residents with over 80 local branches.

While Provident Bank offers a full suite of checking, savings, and CD products. But like other full-service banks, the interest rates and fee structures on their accounts aren’t as attractive as you may find with an online bank.

If you’re looking for a bank that offers the convenience of local branch access in New Jersey and Pennsylvania, Provident Bank could be what you’re looking for. Otherwise, you may want to consider one of the top online banks available today. Keep reading our full review to learn more about their account features, fees, and customer service.

  • Full-service bank with over 80 brick-and-mortar locations
  • No high-yield interest rate products
  • Local branches only available in New Jersey and Pennsylvania

Checking, Savings, CDs, Business Accounts, IRA, Wealth Management, Mortgages

Who Is Provident Bank?

Provident Bank is a full-service bank that’s been around since 1839. It is a wholly-owned subsidiary of Provident Financial Services, Inc. Chris Martin is the Chairman, President & CEO. The bank is based in Jersey City, NJ. It has over 80 branches located in New Jersey & Pennsylvania.

Provident Bank is not a member of the Better Business Bureau. However, they still have a listing on the BBB website with a grade of F and six complaints.

Note: While their names are very similar, Provident Bank is not affiliated with The Provident Bank, a bank known for fully insuring bank accounts even beyond the FDIC limits.

What Do They Offer?

Provident Bank offers a full range of banking services and products for both personal and commercial customers. These products include checking, savings, CDs, retirement, wealth management, and mortgages.

Like many full-service banks, Provident Bank doesn’t offer high-yield interest rates on its deposit products. If that is what you are looking for, you’ll do better to look at other banks. However, if you live in New Jersey or Pennsylvania and want a brick and mortar bank, they may have what you’re looking for.

Checking, Saving, And CDs

Provident Bank offers seven different checking products. All require an initial deposit of $50. Two of these checking products charge monthly fees:

  • NJ Consumer Checking: $5/month
  • Platinum Checking: $25 per month (can be waived by maintaining $10,000 across eligible linked deposit accounts such as mortgage loans, or select consumer loans and credit lines).

You won’t find high-yield savings account products at Provident Bank. The highest rate you’ll find among the five savings account products offered is 0.75% APY with the Power Savings product, if you have at least $10,000 in your account. 

The Power Savings, Platinum Money Manager, and Young Saver products do not charge a monthly fee. However, you will incur a $3 per month fee with the Statement Savings and Passbooks Savings products unless $250 is maintained in the account.

Do things get any better with CDs? Unfortunately, Provident Bank doesn’t list their CD rates. They do offer a variety of CDs, including 91 days, 6, 9, 12, 18, 24, 30, 36, and 60 months. You’ll have to contact the bank to find out what their rates are. These are the banks with the best current CD rates.

Mobile App

They have mobile apps for both iOS and Android. The mobile app allows you to pay bills, transfer money, and find an ATM or branch. It doesn’t appear mobile check deposits are available with the mobile app.

On the Apple App Store, the app is called “Provident Bank” and is rated 2.1/5 from 115 people. On Google Play, the app is called “Provident Bank” and is rated 2.5/5 from 71 people.

Customer Service

Provident Bank customer service can be contacted by phone or email through their website. They are available during the following hours:

  • M-F, 8 AM to 7 PM
  • Sat 9 AM to 2 PM

You can visit the contact us page on their website to send a written message to their customer team.

Are There Any Fees?

Yes. Two of the checking account products have fees of $5/month and $25/month. The latter can be avoided with combined balances of $10,000.

Two of the savings products have $3/mo fees unless $250 is maintained in the account. Overdraft fees are $35. Provident Bank ATMs are free to use. For some checking and savings products, ATM usage outside of Provident Bank’s network will incur a fee.

How Do I Open An Account?

Currently, there are no options to open an account online. You’ll need to visit a local branch if you’d like to become a Provident Bank customer.

Is My Money Safe?

Yes. Provident Bank is FDIC insured, which means up to $250,000 of your (per depositor) deposit account funds are insured. It also uses encryption on its website and in its mobile app.

Is It Worth It?

Like many brick-and-mortar, full-service bank, Provident Bank doesn’t compete on high interest rates. Instead, it tries to appeal to customers by offering an ecosystem full of financial products that can meet the needs of a large range of personal and commercial customers.

For some people, the simplicity of dealing with one bank for all of their financial needs outweighs high-yield savings rates offered by the top online banks. If that sounds like you and you’re in New Jersey or Pennsylvania, Provident Bank may be worth checking out.

Provident Bank Features

  • Checking
  • Savings
  • CD
  • Business accounts
  • Wealth management
  • IRAs
  • Mortgages

Minimum Balance Requirements

Savings: 0.05%

CD: Must contact local branch to get the current rates

  • Smart checking: None
  • Cash back checking: None
  • Platinum checking: None
  • Basic checking: None
  • Consumer checking: $3 per month

80+ locations throughout New Jersey and Pennsylvania

Over 55,000 fee-free ATMs available worldwide through the Allpoint ATM network

Out-of-network ATM fees refunded for Smart Checking, Cash Back Checking, and Platinum Checking members

M-F, 8 AM to 7 PM

Sat 9 AM to 2 PM



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