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Money Market Accounts

Home Personal Money Market Accounts

Take Advantage of Higher Balance

 Peoples State Bank has two Money Market account options available for our customers, each featuring tiered interest rates that offer higher rates based on your balance. You'll still maintain access to your account, so you can withdraw funds whenever you need them within the established limits. (3)

Compare Our Money Market Accounts

Account

Minimum to Open

Minimum Daily Balance

Interest

Fees

Online BankingBill PayStatements

Premium Money Market

$2,500

 Maintain a $2,500 average daily balance to avoid monthly service fee

 

Interest (1) paid monthly

Tiered Rate Schedule

 

 

$7.50 Monthly Service Fee

 

6 FREE withdrawals per month;

$1 each

additional (3) (4)

FREE

$3.95 per month.

FREE with 1 or more Bill Pay transactions per month

Monthly statement with images.

FREE eStatement.

End of the month cycle.

Hi-Yield Money Market

$25,000

Maintain a $25,000 average daily balance to avoid monthly service fee

 

Interest (1) paid monthly

Tiered Rate Schedule

 

$7.50 Monthly Service Fee

 

6 FREE withdrawals per month;

$1 each

additional (3) (4)

FREE

$3.95 per month.

FREE with 1 or more Bill Pay transactions per month

Monthly statement with images.

FREE eStatement.

End of the month cycle.

(1) We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period.
(3) If the number of transactions processed on an account exceeds the limit allowed for that account type, your account will be assessed an "Excess Activity Fee" of $1 per transaction over the limit.  You may make no more than six (6) transfers and/or withdrawals during any one (1) calendar month or statement cycle to another of your accounts with us or to a third party by preauthorized, automatic, online or telephone transfer.
(4) Sales tax may apply.
Interest rates are subject to change at the bank's discretion at any time. The annual percentage yield may vary due to the interest rate changes and fees. Click here for current interest rates and annual percentage yields based on designated balance tiers.

 

Open a Money Market Account

 For opening a Money Market account:

Step 1:   Download our New Account Worksheet

Step 2:   Complete the New Account Worksheet.

Step 3:   Print the New Account Worksheet and bring it into your local branch with your unexpired government issued photo ID.

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT 

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.  What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.