Find the Accounts to Help You Save
In order to develop an effective savings strategy, you need to have the right accounts that allow you to save the right way. At Peoples Bank, we offer a wide range of savings account options. From traditional savings accounts, to Christmas Club Accounts and retirement accounts, we give you the tools to save the way you want. If you’re ready to start saving, stop into a Peoples Bank office to speak with our team about which savings option is right for you.
Savings Accounts
Savings Account
Takes just $25 to open
Earn interest on balances of $60 or higher
18 withdrawals per quarter with no fees
Six (6) preauthorized transfers or withdrawals per month
Exceeding transfer limits will make your account subject to closure
Christmas Club Account
- No minimum balance requirement to open
- Helps save for holiday shopping year-round
- Interest added to account on last day of activity period
- Checks for the entire balance of the account mailed in third full week of October
Certificates of Deposit
A Certificate of Deposit (CD) from Peoples Bank can allow you to focus your savings strategy. Here’s what you need to know about our CDs:
- $500 minimum balance requirements
- Term lengths ranging from 6 months to 60 months
- Funds are FDIC insured up to $250,000
- Early withdrawal is subject to penalty
Retirement Accounts
Traditional IRA
A traditional IRA is a great option for anyone with earned income to start saving for their retirement. Key features for this retirement account include:
- Earnings grow tax-deferred*
- Contributions may be tax-deductible if IRS qualifications are met.*
Roth IRA
A Roth IRA combines the power to save for retirement with tax benefits. It’s available to people of all ages if they meet certain income requirements. Roth IRA features include:
- Earnings grow tax-free*
- No tax or penalties on qualified withdrawals*
- No required minimum distribution (RMD)*
*Consult Your Tax Advisor