Savings

We have designed several accounts to meet the different needs of our community. Which account is best for you?

Account Type: Regular Savings Young Peoples Investment Plan Christmas Club Certificate of Deposit IRA Savings Health Savings Account
Account Description Earn a competitive interest rate. Commit to saving for your child's future needs. Earns better interest than the regular savings. Spread your Christmas expense throughout the entire year. Safe and secure. Can help you earn the most for your money. Tax advantaged retirement accounts: Traditional, Roth, Coverdell, and Simple IRAs. Tax advantaged health savings account.
Minimum to Open $100 $250 $10 $500 (to open most accounts) N/A N/A
Minimum Daily Balance (to avoid minimum balance fee)
$100 (waived for minors) N/A N/A N/A N/A N/A
Minimum Balance Fee
$1/month (if daily balance falls below $100) N/A N/A N/A N/A N/A
Interest Rate Information
Variable Variable and Tiered Variable See Rates Variable Variable
Daily Minimum to Earn APY*
$10 $10 $10 N/A N/A N/A
Withdrawal Information
A $.50 service charge per withdrawal applies after the 5th withdrawal of the calendar month. Penalty may be imposed for withdrawal prior to age 18. Penalty for early withdrawal may apply. Penalty for early withdrawal will be imposed. Contact us for information regarding withdrawals. Contact us for information regarding withdrawals.
Additional Information
A $5 service charge applies if the account is closed within 90 days of the opening date. Account must be withdrawn or transferred to a regular savings account by age 21. We will send you a Christmas check plus interest. Most Certificates of Deposit automatically renew for your convenience. Your annual contribution may be tax deductible. Contributions that are not fully deductible are still eligible to receive tax-deferred earnings. Your annual contribution may be tax deductible. Contributions that are not fully deductible are still eligible to receive tax-deferred earnings.

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*APY: Annual Percentage Yield

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Account Type
Account Description
Regular Savings Earn a competitive interest rate.
Young Peoples Investment Commit to saving for your child's future needs. Earns better interest than the regular savings.
Christmas Club Savings Spread your Christmas expense throughout the entire year.
Certificate of Deposit Safe and secure. Can help you earn the most for your money.
IRA Savings Tax advantaged retirement accounts: Traditional, Roth, Coverdell, and Simple IRAs.
Health Savings Account Tax advantaged health savings account.
Minimum to Open
Regular Savings $100
Young Peoples Investment $250
Christmas Club Savings $10
Certificate of Deposit $500
IRA Savings N/A
Health Savings Account N/A
Minimum Daily Balance (to avoid minimum balance fee)
Regular Savings $100 (waived for minors)
Young Peoples Investment N/A
Christmas Club Savings N/A
Certificate of Deposit N/A
IRA Savings N/A
Health Savings Account N/A
Minimum Balance Fee
Regular Savings $1/month (if daily balance falls below $100)
Young Peoples Investment N/A
Christmas Club Savings N/A
Certificate of Deposit N/A
IRA Savings N/A
Health Savings Account N/A
Interest Rate Information
Regular Savings Variable
Young Peoples Investment Variable and Tiered
Christmas Club Savings Variable
Certificate of Deposit See Rates
IRA Savings Variable
Health Savings Account Variable
Daily Minimum to Earn APY
Regular Savings $10
Young Peoples Investment N/A
Christmas Club Savings $10
Certificate of Deposit N/A
IRA Savings N/A
Health Savings Account N/A
Withdrawal Information
Regular Savings A $.50 service charge per withdrawal appliers after the 5th withdrawal of the calendar month.
Young Peoples Investment Penalty may be imposed for withdrawal prior to age 18.
Christmas Club Savings Penalty for early withdrawal may apply.
Certificate of Deposit. Penalty for early withdrawal will be imposed.
IRA Savings Contact Us for information regarding withdrawals.
Health Savings Accounts Contact Us for information regarding withdrawals.
Additional Information
Regular Savings A $5 service charge applies if the account is closed within 90 days of the opening date.
Young Peoples Investment Deposit must be withdrawn or transferred to a regular savings account by age 21.
Christmas Club Account We will send you a Christmas check plus interest.
Certificate of Deposit Most Certificate of Deposits automatically renew for your convenience.
IRA Savings Your annual contribution may be tax deductible. Contributions that are not fully deductible are still eligible to receive tax-deferred earnings.
Health Savings Account Your annual contribution may be tax deductible. Contributions that are not fully deductible are still eligible to receive tax-deferred earnings.

 

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Peoples State Bank
Phone:  (800) 280-1074    24-hour Touch Tone Banking:  (800) 281-0214 Routing Number: 075908658
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