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Savings and Overdraft Protection

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Savings Accounts to Match Your Needs

We offer three savings account options because one size doesn't always fit all. Use this chart below to review our account features to help pick the best account for you. Scroll down to learn more about our overdraft protection program and other account options. If you have questions, don't hesitate to contact us!

 

 

Compare Checking Accounts
 Savings*VIP Cash ManagementCompanion Savings*
(high-yield account)
Minimum balance$50 minimum balance
required to avoid $5 monthly fee
$2,500 minimum balance
required to avoid $8 monthly fee
$1,000 minimum balance
required to avoid $8 monthly fee
WithdrawalsMaximum 6 debits per month,
$1 fee for each over maximum

Maximum 6 debits per month,
$10 fee for each over maximum

Maximum 6 debits per month,
$1 fee for each over maximum

Interest

Interest compounded daily,
paid quarterly

Tiered interest rates; higher
balances earn higher interest
rates. Interest compounded daily,
paid monthly

Interest compounded daily,
paid quarterly
StatementsFREE paper or E-StatementFREE paper or E-StatementFREE paper or E-Statement
Online accessFREE online bankingFREE online bankingFREE online banking
Additional featuresATM Card ($7.50)FREE Personalized VIP checks

Account must be opened on same day as
a Certificate of Deposit (CD) with term of
12 months or greater

Initial savings deposit cannot be greater in
value than opening CD deposit

Additional deposits can be added to
account if another CD (with matching or
greater funds) is opened on the same day as deposit

Account continues to earn interest
after CD matures

 

* Available for personal accounts only. Offer may be withdrawn without notice. Additional fees may apply. MEMBER FDIC.

 

Overdraft Protection

We offer two ways to back up your checking in the event you overdraw your account.

 

Compare Overdraft Protection
READY RESERVE CHECKINGSAVINGS ACCOUNT TRANSFERNO PROTECTION

Revolving line of credit attached to checking account.

Checking account is attached to savings.

Items presented to the bank will be paid on bank discretion.

Transfers in increments of $100.

Transfers in increments of $100.

$29 fee on returned items presented to the bank
Maximum of $290 per day per account.

Interest rate is at a fixed 15% APR with a periodic rate of .041096%.

If savings balance is less than $100 then the transfer will take remaining balance of savings account.

$29 fee on overdraft items
Maximum of $290 per day per account.

Interest accrues immediately after line of credit advancing.

Covers the overdrawn amount to avoid overdraft fee.

Transactions subject to overdraft and return check charges are checks, in-person withdrawals, ATM withdrawals, and other electronic means.

Annual fee of $30.

Prevents items from getting returned.

 

No additional fee for line of credit advancing.

$5 fee plus tax assessed to checking for each savings account transfer.

 

 

Each overdraft transfer is considered a withdrawal from savings.

 

 

Round-Up Savings Plan

Use your debit card for everyday purchases to grow your savings. Each time you use your Peoples Bank debit card,* we’ll RoundUp to the nearest dollar and automatically transfer the difference to your savings account.
 
*The debit comes from your Peoples Bank checking account and is automatically transferred to your Peoples Bank savings account. Individuals participating in RoundUp must have a Peoples Bank debit card, checking account, savings account and overdraft protection from savings to checking. 
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