Beware of scammers at the holidays! The Peoples Bank will NEVER text you, or ask you to click a link! Be suspicious of ANY text asking you to click a link or provide your financial information. Keep your money safe!
Traditional savings and money markets
Whether you want to set aside a little for emergencies or save a lot for what lies ahead, The Peoples Bank has the savings or money market account for your business!
| Regular Savings | Money Market | Money Market Plus | |
|---|---|---|---|
| Who is it for? | Businesses of all sizes in any industry that want a simple way to earn interest while setting money aside | Businesses that want to earn a better interest rate than a traditional business savings account | Businesses that want to earn a better interest rate than an ordinary business money market account |
| Minimum balance to open | $50.00 | $1,000.00 | $2,500.00 |
| Minimum balance to maintain | $50.00 | $1,000.00 | $2,500.00 |
| Monthly fee1 |
$5.00 (waived if minimum balance requirement is met; waived for nonprofit organizations) |
$5.00 (waived if minimum balance requirement is met) |
$7.00 (waived if minimum balance requirement is met) |
| Earns Interest2 |  |
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| Withdrawal limits |
6 per month ($5.00 fee for each withdrawal beyond 6) |
6 per month ($5.00 fee for each withdrawal beyond 6) |
6 per month ($5.00 fee for each withdrawal beyond 6) |
| Online Banking & Bill Pay | |
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| Mobile Banking | |
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| Telephone Banking | |
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| P2P transfers3 | |
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Savings Account Rates
| Account Type | Minimum Balance To Open | Minimum Required Balance to Obtain APY | Interest Rate | APY* | Footnote |
|---|---|---|---|---|---|
| Regular Savings | $50.00 | $0.01 | 0.08% | 0.08% | (1), (2), (3) |
| Steady Saver | $5.00 | $0.01 | 0.10% | 0.10% | (1), (7) |
| Money Market | $1,000.00 | $0.01 | 0.05% | 0.05% | (1), (3), (4) |
| Money Market | $1,000.00 | $1,000.00 | 0.10% | 0.10% | (1), (3), (4) |
| Money Market Plus | $2,500.00 | $0.01 | 0.10% | 0.10% | (1), (3), (5) |
| Money Market Plus | $2,500.00 | $2,500.00 | 0.25% | 0.25% | (1), (3), (5) |
| Money Market Plus | $2,500.00 | $10,000.00 | 0.25% | 0.25% | (1), (3), (5) |
| Money Market Plus | $2,500.00 | $25,000.00 | 0.30% | 0.30% | (1), (3), (5) |
Certificates of deposit (CDs)
Let your businesses’ balance earn better interest rates than traditional savings accounts and money markets with a CD. Get started with either a $500.00 or $5,000.00 opening deposit; rates of standard CDs are tiered based on the balance.
Your interest is compounded daily and posted every quarter. Each of these CDs also benefits from Online Banking, Mobile Banking and Telephone Banking.
Certificate of Deposit Rates
| Account Type | Minimum Required Balance to Earn Interest | Interest Rate | APY* | Footnote / Penalty |
|---|---|---|---|---|
| 60 Month CD | $5,000.00 | 0.60% | 0.60% | Loss of 6 months simple interest |
| 60 Month CD | $500.00 | 0.50% | 0.50% | Loss of 6 months simple interest |
| 48-59 Month CD | $5,000.00 | 0.55% | 0.55% | Loss of 6 months simple interest |
| 48-59 Month CD | $500.00 | 0.50% | 0.50% | Loss of 6 months simple interest |
| 36-47 Month CD | $5,000.00 | 0.45% | 0.45% | Loss of 6 months simple interest |
| 36-47 Month CD | $500.00 | 0.40% | 0.40% | Loss of 6 months simple interest |
| 24-35 Month CD | $5,000.00 | 0.40% | 0.40% | Loss of 6 months simple interest |
| 24-35 Month CD | $500.00 | 0.38% | 0.38% | Loss of 6 months simple interest |
| 18-23 Month CD | $5,000.00 | 0.30% | 0.30% | Loss of 6 months simple interest |
| 18-23 Month CD | $500.00 | 0.25% | 0.25% | Loss of 6 months simple interest |
| 12-17 Month CD | $5,000.00 | 0.25% | 0.25% | Loss of 3 months simple interest |
| 12-17 Month CD | $500.00 | 0.20% | 0.20% | Loss of 3 months simple interest |
| 6-11 Month CD | $5,000.00 | 0.15% | 0.15% | Loss of 3 months simple interest |
| 6-11 Month CD | $500.00 | 0.12% | 0.12% | Loss of 3 months simple interest |
| 3-5 Month CD | $5,000.00 | 0.10% | 0.10% | Loss of 3 months simple interest |
| 3-5 Month CD | $500.00 | 0.08% | 0.08% | Loss of 3 months simple interest |
Special CDs
Our special CDs do not have tiered rates:
- Peoples Choice CD (36-month) — minimum balance of $1,000.00; 1 optional rate increase allowed throughout the term
- Peoples Choice CD (60-month) — minimum balance of $1,000.00; 2 optional rate increases allowed throughout the term
- The Peoples Community First CD (60-month) — minimum balance of $5,000.00; 1 withdrawal allowed (loss of 6 months’ simple interest for additional withdrawals); for nonprofit organizations only
Special CD Rates
| Account Type | Minimum Required Balance to Earn Interest | Interest Rate | APY* | Footnote / Penalty |
|---|---|---|---|---|
| 60 Month Community First CD (must be non-profit organization) | $5,000.00 | 0.40% | 0.40% | No penalty for 1 withdrawal. If further withdrawals are taken, there is a loss of 6 months simple interest. |
| 60 Month Peoples Choice CD (2 optional rate increases available) | $1,000.00 | 0.60% | 0.60% | Loss of 6 months simple interest based on the rate in effect on the date of withdrawal |
| 36 Month Peoples Choice CD (1 optional rate increase available) | $1,000.00 | 0.45% | 0.45% | |
| 11 Month Special CD | $5,000.00 | 3.00% | 3.05% | Loss of 3 months simple interest |
Get started
Stop by your nearest branch or fill out the form below!