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Peoples Bank

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Savings & Money Market

Our Savings and Money Market Accounts make it easy to grow your savings!

Consider the features and competitive rates of a Peoples Bank Savings Account or Money Market. Contact us or visit one of our locations and let us help you choose an account that best fits your needs!

Savings Account Money Market
Amount Required to Open $25 $25
Minimum Daily Balance $100 or $5 Service Charge $1,500 or $10 Service Charge
Interest Paid Monthly Tiered Interest Rates
Mobile Banking FREE FREE
Online Banking FREE FREE
E-Statements FREE FREE
Phone Banking FREE FREE
In Person Transfers & Withdrawals Unlimited Unlimited

Who Needs a Savings Account?

Whether you’re saving up for your next vacation or starting an emergency fund to offset unforeseen expenses, our Savings Account can help you achieve your goals. With an interest-bearing account from Peoples Bank, you get paid to save. Put your money to work for you and reach your goals faster at Peoples Bank.

Savings Account & Money Market Account Benefits for Younger Customers

It’s never too early to start saving! Teach healthy financial habits by opening a Savings Account or Money Market Account for a child or teenager. If you have a child aged 0-12, ask us about our Peoples Little Perks program!
As a service to our younger customers, we waive the minimum balance fee on our Savings Account and Money Market Account for anyone under the age of 21. At Peoples Bank, we make sure that nothing stands in the way of creating a habit of saving while you’re young.

What is a Money Market Account?

Money Market Accounts offer more liquidity than other high-interest accounts and provide low risk, a higher interest return, and FDIC coverage. At Peoples Bank, our Money Market Account features tiered-interest rates. When you invest more money in your account, you receive a higher rate of interest.


How is a Money Market Account different from a Savings Account or a CD?

Money Market Accounts earn a higher rate of interest than normal savings accounts, and the interest is compounded daily. Both Money Market Accounts and Savings Accounts are FDIC-insured, low-risk accounts. Certificates of Deposit (CDs) offer a high interest rate but lock your funds in for a specified amount of time. You can withdraw money from your Money Market Account without a penalty and will incur fees for early withdrawals from a CD.


How do I know if a Money Market Account is right for me?

If you have enough to meet the opening deposit of $25 and want to maintain access to your funds while earning interest, a Money Market Account at Peoples Bank may be the right account for you. With a Money Market Account, you’ll earn higher interest rates than a Savings Account while still benefiting from unlimited in person transfers and withdrawals.


What is the best way to use a Money Market Account?

Money Market Accounts are best used for emergency funds or as a holding account for recurring tax or tuitions payments. For funds you need to access occasionally, a Money Market Account is a great way to store and grow your money. 

Why choose a Savings Account or Money Market Account from Peoples Bank?

As your community bank, Peoples Bank offers products and services specially tailored to you. We’re dedicated to listening to our customers and giving back to our communities. Our friendly employees make every effort to be a resource where customers can learn about financial products and services. We always take time to find the best banking solutions for you. Stop by or call us today! Peoples Bank offers ten convenient locations in Northwest Iowa, Southwest Minnesota, and Southeast South Dakota. 


*Dormant Accounts – Accounts with daily ledger balances below $1,000.00 will be charged $2.50 per month if dormant for one year or more.
Balance Fee will be waived for all account holders under 21 years of age.
Rate Information – This is an interest-bearing account. The interest rate and annual percentage yield (APY) will depend on daily balance. The interest rate and APY may change.
Interest will begin to accrue the business day we receive credit for the deposit of non-cash items (i.e. check).
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