Savings
Savings Account
- Rate information - Your interest rate and annual percentage yield may change.
(Frequency of rate changes we may change the interest rate on your account at any time.)
- Determination of rate - at our discretion, we may change the interest rate on your account.
- Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
- Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
- Minimum balance to open the account - You must deposit $50.00 to open this account.
- Minimum balance to avoid imposition of fees - A service charge fee of $1.00 will be imposed every month if the balance in the account falls below $50.00 any day of the month.
- Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).
- Transaction Limitations - Transfers from a Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month.
- Fees - An excessive withdrawal fee of $1.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of two during a calendar month. This fee will apply at bank's discretion.
Little Peoples Big Savings Account
- Minimum balance to open the account - You must deposit $5.00 to open this account.
- Special Features - Fun Activity Books will be given when each new account is opened. Each time a deposit is made into this account the accountholder will be invited to pick a prize from the Treasure Chest.
- Accrual of interest - This account begins earning interest when the balance reaches $25.00. Account will be converted to a regular savings account at the age of 12, and will accrue interest at the current savings account interest rate and annual percentage yield.
- Transaction limitations - A maximum of 6 withdrawals are allowed per month.
- Fees - An excessive withdrawal fee of $1.00 will be charged for each excessive withdrawal in excess of six during a statement cycle.
Christmas Club Account
- Minimum balance to open the account - You must deposit $5.00 to open this account.
- Transaction Limitations - You may not make any withdrawals from this account before the club maturity date.
- Fees - A service charge fee of $5.00 will be charged if all scheduled payments are not met.
For More Information contact your local Peoples Community Bank facility.
