Rates

Effective Date: August 6, 2020

Rates vary. Substantial penalty for early withdrawal on all certificates.

Certificates of Deposit

Product

Interest Rate

Annual Percentage Yield (APY)

Certificates of Deposit $500.00 to $9,999.99**

6 months

0.20%

0.20%

1 year

0.40%

0.40%

18 months

0.40%

0.40%

2 years

0.45%

0.45%

3 years

0.55%

0.55%

4 years

0.65%

0.65%

5 years

0.70%

0.70%

Product

Interest Rate

Annual Percentage Yield (APY)

Certificates of Deposit $10,000.00 to $49,999.99**

6 months

0.25%

0.25%

1 year

0.45%

0.45%

18 months

0.45%

0.45%

2 years

0.55%

0.55%

3 years

0.60%

0.60%

4 years

0.70%

0.70%

5 years

0.80%

0.80%

Product

Interest Rate

Annual Percentage Yield (APY)

Certificates of Deposit $50,000.00 to $99,999.99**

6 months

0.30%

0.30%

1 year

0.55%

0.55%

18 months

0.55%

0.55%

2 years

0.65%

0.65%

3 years

0.65%

0.65%

4 years

0.75%

0.75%

5 years

0.85%

0.85%

Product

Interest Rate

Annual Percentage Yield (APY)

Certificates of Deposit $100,000.00 and over**

6 months

0.35%

0.35%

1 year

0.60%

0.60%

18 months

0.60%

0.60%

2 years

0.70%

0.70%

3 years

0.70%

0.70%

4 years

0.80%

0.80%

5 years

0.90%

0.90%

NOW Accounts**

  • Minimum opening balance required: $1,500.00
  • Interest rate varies.
  • Current Interest Rate: 0.05%
  • Annual Percentage Yield: 0.05%

Money Market Demand Accounts**

  • Minimum opening balance required: $2,500.00
  • Interest rate varies.

Tier 1: If your daily balance is $100,000.00 and greater, the interest rate paid on the entire balance in your account will be 0.25%, with an annual percentage yield of 0.25%.

Tier 2: If your daily balance is $2,500.00 to $99,999.99, the interest rate paid on the entire balance in your account will be 0.20%, with an annual percentage yield of 0.20%.

Tier 3: If your daily balance is $2,499.99 and less, the interest rate paid on the entire balance in your account will be 0.15%, with an annual percentage yield of 0.15%.

Regular Savings Plan**

  • Minimum opening balance required: $25.00
  • Minimum daily balance to obtain annual percentage yield: $5.00
  • Interest rate varies.
  • Current interest rate: 0.10%
  • Annual Percentage Yield: 0.10%

Individual Retirement Account (IRA)**

  • 18 Month: Interest compounded daily.
  • Minimum opening deposit required: $25.00
  • Minimum daily balance to obtain annual percentage yield: $5.00
  • Current interest rate: 1.00%
  • Annual Percentage Yield: 1.01%

**Fees could reduce earnings on the account. Interest rate is subject to change. Substantial penalty for early withdrawals on IRA's.
Peoples State Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Each depositor is insured to at least $250,000.00.

 
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