Accounts to Help You Save Effectively
No matter your savings goal, you need the right savings account to allow you to save the right way. At Peoples Bank & Trust, we offer two savings account options along with certificates of deposit (CDs) and retirement accounts to provide a more focused savings strategy. If you’d like to learn more about any of these accounts or open a savings, CD or retirement account, please stop into your local Peoples Bank & Trust branch to speak with a member of our team or click the button below.
Savings Accounts
Regular Savings Account
A traditional savings account with low balance requirements that allows you to save responsibly and earn interest. Key features include:
- $25 opening deposit
- Balances over $60 earn interest
Christmas club savings Account
Start saving for your holiday purchases all year long with our Christmas Club Savings Account. Key features of this account include:
- $5 opening deposit
- Interest is added to the account balance on the last day of the activity period
- A check is sent to you containing the entire account balance and accrued interest during the third week of October—just in time for the holiday shopping season
Certificates of Deposit
CDs offer you the opportunity to earn a higher interest rate on your account balance than you would find in a traditional savings account. Key features of CDs include:
- $1,000 minimum deposit
- Terms ranging from 6 to 60 months
- Rate is determined by term
- Funds are FDIC-insured up to $250,000
- Early withdrawal is subject to penalty
| Term | Interest Rate | *APY |
|---|---|---|
| 6 months | 1.00% | 1.00% |
| 12 months | 2.00% | 2.02% |
| 7 or 13 month SPECIAL! | 3.70% | 3.75% |
| 24 months | 1.90% | 1.91% |
| 36 months | 2.10% | 2.12% |
| 48 months | 2.20% | 2.22% |
| 60 months | 2.40% | 2.42% |
* Annual percentage yield (APY) is accurate as of 03/30/2026. These rates may change at any time without prior notice. After your CD is opened, the interest rate is fixed for the term. A penalty is imposed for early withdrawal. Fees could reduce earnings on the account.
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)*
SEP IRA
Simplified Employee Pension (SEP) IRAs are a great option for small business owners and workers who are self-employed to save for retirement. Features include:
- Low-cost alternative to traditional retirement savings accounts
- Contributions and earnings grow tax-deferred until withdrawn*
Coverdell Education IRA
Save for the growing costs of education with a Coverdell Savings IRA. Benefits to this account include:
- Distributions are tax-free*
- Distributions can be used to pay for qualified education expenses for elementary, secondary and post-secondary education.
*Consult your tax advisor.
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