Open a Savings Account
Peoples Community Bank makes it easy to start saving money. With our excellent savings account options, you can start creating your own safety net for when life throws you a curveball, or when you’re ready for a well-deserved vacation.
At Peoples Community Bank, every customer is a part of the family. That’s why we take great care to provide helpful information about each service we offer. Here are some key terms and details to know about your Savings Account. Please reach out to our friendly customer care team with any questions!
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
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.
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.
Rate information – Your interest rate and annual percentage yield may change.
Determination of rate – At our discretion, we may change the interest rate on your account.
Accrual of interest on non cash 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 transfers 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.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
