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Peoples Bank 2.02% Savings Account

July 22nd, 2009

Peoples Bank in North Carolina is offering a savings account with 2.02% APY on balances over $10,000 and 0.5% APY for balances below. This account is available nationally.

There’s a $500 minimum deposit which is also the daily balance needed to void a $15 quarterly fee. There are only 6 free withdrawals per quarter and a $2.50 charge for each withdrawal over 6. The account also doesn’t have paper statements, only estatements. Interest is deposited quarterly.

Peoples Bank is also offering a reward checking account that offers 3.35% APY on balances up to $50,000 and 1% APY on balances over. There’s a few extra requirements to receive this rate. You need to make 10 debit card purchases a month and receive one direct deposit per month. There’s a $100 minimum deposit but no monthly fees or minimum balance requirements. Another nice perk is the account refunds any ATM fees automatically.

There’s an online application to open all accounts and there’s no hard credit pull for opening an account. If you’d like to open an account in person Peoples Bank has branches in North Carolina. Peoples Bank has a 3 out of 5 soundness rating from bankrate and is FDIC insured.

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