• Savings
• Money Market Deposit

STATEMENT SAVINGS ACCOUNTS

Opening a savings account is a great way to prepare for some future event or purchase. Peabody State Bank offers three different statement savings accounts:

• Child’s Savings – For early savers under the age of 18
• Regular Savings – A personal savings account for those 18 years of age or older
• Business Savings – A savings account for business owners
  

On savings accounts, we must restrict all preauthorized (including automatic) transfers or telephonic transfers from this account to a maximum of six per month. You may make an unlimited amount of transfers by mail, messenger, or in person.

The MAINTENANCE CHARGES for a savings account will be imposed each month. The BASE FEE will be charged if the balance in the account falls below the MINIMUM DAILY BALANCE REQUIRED any day of the month. The PER WITHDRAWAL FEE will be charged for each cash withdrawal in excess of 3 cash withdrawals made over the teller line each month. Transfers to other accounts you own at Peabody State Bank will not count toward this fee. Upon periodic review, accounts under the required minimum balance may be closed at our discretion with any balance being returned to the owner.

For current interest rate information, click on our Current Rates link.

For a detailed disclosure on any account listed above, please Contact Us.

MONEY MARKET DEPOSIT ACCOUNT

Our money market deposit account is available to both personal and commercial customers.

On money market deposit accounts, FDIC regulations restrict all preauthorized (including automatic) transfers or telephonic transfers from this account to a maximum of six per monthly statement cycle. If we provide checks with this account, three of such transfers may be made by check. You may make an unlimited number of transfers by mail, messenger, or in person. A $25 per transaction fee will be assessed for each transaction over the above stated maximums (3 checks or 6 total preauthorized transfers).

The interest rate paid on this account is based upon your daily balance. A tiered rate structure with the applicable rate and annual percentage yield (APY) can be viewed by clicking on our Current Rates link.

A MAINTENANCE CHARGE of $7.50 will be imposed every statement cycle if the balance in the account falls below $2,500 any day of the statement cycle. This MAINTENANCE CHARGE will be waived if the Average Daily Balance for the statement cycle is $5,000 or greater.