Money Market Savings Account

Money Market Accounts offer more liquidity than other high-interest accounts and provide low risk, a higher interest return, and FDIC coverage. At Peoples Bank, our Money Market Account features tiered-interest rates. When you invest more money in your account, you receive a higher rate of interest.

Money Market Accounts earn a higher rate of interest than normal savings accounts, and the interest is compounded daily. Both Money Market Accounts and Savings Accounts are FDIC-insured, low-risk accounts. Certificates of Deposit (CDs) offer a high interest rate but lock your funds in for a specified amount of time. You can withdraw money from your Money Market Account without a penalty and will incur fees for early withdrawals from a CD.

Money Market Accounts are best used for emergency funds or as a holding account for recurring tax or tuitions payments. For funds you need to access occasionally, a Money Market Account is a great way to store and grow your money.

If you have enough to meet the opening deposit of $25 and want to maintain access to your funds while earning interest, a Money Market Account at Peoples Bank may be the right account for you. With a Money Market Account, you’ll earn higher interest rates than a Savings Account while still benefiting from unlimited in person transfers and withdrawals.

At Peoples Bank, we’re more than just a bank—we’re part of your community. Our products and services are designed with you in mind, and we take pride in truly listening to our customers. Whether you're looking for financial guidance or the right banking solutions, our friendly team is here to help. With ten convenient locations across Northwest Iowa, Southwest Minnesota, and Southeast South Dakota, we make banking easy and accessible. Stop by or give us a call today—we’re ready to serve you!