Simple ways to grow your savings!
Explore the competitive rates and convenient features of a Peoples Bank Savings Account. Visit one of our bank locations in Iowa, Minnesota, or South Dakota, or contact us today—we’ll help you find the right savings option for your goals!
| Details | Savings Account |
Money Market |
|---|---|---|
| Amount Required to Open | $25 |
$25 |
| Minimum Daily Balance | $100 or $5 Service Charge | $1,500 or $10 Service Charge |
| Interest | Paid Monthly | Tiered Interest Rates |
| Mobile Banking | FREE | FREE |
| Online Banking | FREE | FREE |
| E-Statements | FREE | FREE |
| Phone Banking | FREE | FREE |
| In Person Transfers & Withdrawals | Unlimited | Unlimited |
Who needs a savings account?
Whether you’re saving up for your next vacation or starting an emergency fund to offset unforeseen expenses, our Savings Account can help you achieve your goals. With an interest-bearing account from Peoples Bank, you get paid to save. Put your money to work for you and reach your goals faster at Peoples Bank.
What do you need to open a savings account?
Getting started with a Peoples Bank Savings Account is simple! Here’s what you’ll need to bring:
- Initial $25 Deposit - $25 is the minimum amount required to open a savings account. You will need to have a $100 minimum balance to avoid any fees for the first month.
- A Valid Form of Identification – A government-issued ID, such as a driver’s license or passport.
- Social Security Number or Taxpayer Identification Number – Required for identity verification.
- Initial Deposit – Minimum opening deposits vary by account type. Our team can guide you on the best option for your savings goals.
Stop by one of our bank locations or contact us, and we’ll walk you through the process to get your savings started!
How much will $1,000 make in a savings account?
You can use one of our financial calculators to calculate interest, savings goals, and much more.
Is it worth it to have a savings account?
Is a Savings Account Worth It? Absolutely!
A savings account is one of the smartest ways to secure your money, build financial stability, and reach your goals. Here’s why it’s worth it:
✔ Your Money Grows – Earn interest on your balance while keeping funds accessible.
✔ Safety & Security – Your money is protected and insured.
✔ Easy Access When You Need It – You can withdraw funds when needed.
✔ Builds Smart Financial Habits – Helps you set aside money for emergencies, big purchases, or future plans.
Do you have any tips on how to save money?
You are asking one of our favorite questions! We have some fresh ideas for saving money, as well as this 52-week money saving challenge.
Why choose a savings account from Peoples Bank?
As your community bank, Peoples Bank offers products and services specially tailored to you. We’re dedicated to listening to our customers and giving back to our communities. Our friendly employees make every effort to be a resource where customers can learn about financial products and services. We always take time to find the best banking solutions for you. Stop by or call us today! Peoples Bank offers ten convenient locations in Northwest Iowa, Southwest Minnesota, and Southeast South Dakota.
*Dormant Accounts – Accounts with daily ledger balances below $1,000.00 will be charged $2.50 per month if dormant for one year or more.
Balance Fee will be waived for all account holders under 21 years of age.
Rate Information – This is an interest-bearing account. The interest rate and annual percentage yield (APY) will depend on daily balance. The interest rate and APY may change.
Interest will begin to accrue the business day we receive credit for the deposit of non-cash items (i.e. check).
Personal Checking
Enjoy the flexibility of our Checking Account options! We will help match you with an account that best fits your financial needs!