Savings, CDs, IRAs
Make Saving Simple with a Savings Account, CD or IRA from Peoples Bank & Trust
Establishing a good saving habit is useful whether you are 5, 35 or 65 years old. Saving money is a skill that serves you well for life. At Peoples Bank & Trust, saving is easy with the savings accounts, CDs and IRAs we offer.
Savings Accounts
A savings account is the foundation for any savings plan. By giving you a safe place to save your money, a savings account at Peoples Bank & Trust helps keep you on track. We offer two savings accounts:
- Regular Savings Account:
- $25 to open
- earns interest on balances $60 and over
- 18 withdrawals per quarter
- Six (6) preauthorized transfers per monthly statement cycle
- Christmas Club Savings Account:
- $5 to open
- A great place to save all year long for holiday expenses
- Interest is added to your account balance on the last day of the activity period
- Your check is sent to you for the entire balance of the account during the third week of October
Come by any Peoples Bank & Trust office to learn more about our savings accounts and open one today.
Certificates of Deposit (CD)
CDs offer a secure place to grow your money over a longer period of time. CDs at Peoples Bank & Trust range in maturities from 3 months to 60 months, and the funds in a CD account are protected by the FDIC up to $250,000, per depositor, per institution. The minimum balance required to open a CD account is $1,000. Rates and maturities are as follows:
| Term | Interest Rate | *APY |
|---|---|---|
| 3 months | 0.75% | 0.75% |
| 6 months | 1.00% | 1.00% |
| 12 months | 1.25% | 1.26% |
| 15 months | 1.60% | 1.61% |
| 18 months | 1.40% | 1.41% |
| 24 months | 1.45% | 1.46% |
| 30 months | 1.55% | 1.56% |
| 36 months | 1.85% | 1.86% |
| 48 months | 1.90% | 1.91% |
| 60 months | 2.15% | 2.17% |
* Annual percentage yield (APY) is accurate as of 1/13/2020. These rates may change at any time without prior notice. After your CD is opened, the interest rate is fixed for the term. A penalty is imposed for early withdrawal. Fees could reduce earnings on the account.
Individual Retirement Accounts (IRAs)
Saving for retirement doesn't have to be full of anxiety. Retirement accounts offer a place for you to save for the future so you can live the life you want in retirement. Peoples Bank & Trust offers retirement accounts for various tax and use needs:
- Traditional and Roth IRAs
- Simplified Employee Pension (SEP) IRA
- Education/Coverdell IRA
For more information about our retirement accounts, contact a New Accounts Representative at Peoples Bank & Trust (tax questions should be directed to your tax advisor).