Accounts to Save.
We may be bankers by trade, but we are just like our neighbors. We understand the implications of the unexpected: a big storm, a bad season, or a broken-down tractor. To help prepare for unexpected twists life throws at you, 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 in a way that makes sense for your needs.
Savings Accounts
Savings Account
Takes just $25 to open
Earn interest on balances of $60 or higher
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