Personal Savings
Open a Savings Account Online or Visit Your Local Branch
Build your savings with a Peoples Bank personal savings account. Whether you’re saving for emergencies, healthcare expenses, holidays, or future goals, explore savings accounts with convenient online or mobile banking. Open a checking account online, or find a branch near you and let our friendly team help you open your personal savings account today.
Compare Personal Savings Account Options
Whether you’re looking for a traditional savings account, a high-yield savings account alternative through our Freedom Money Market, a Health Savings Account, or a Certificate of Deposit, you can choose the solution that best fits your goals and conveniently open eligible accounts online.
Statement Savings
A traditional bank savings account designed to help you grow your money over time while maintaining easy access to funds.
Freedom Money Market
A Freedom Money Market account offers the opportunity to earn higher interest than a traditional savings account.
Senior Statement Savings
Manage your savings with an account designed for ages 55+ that allows for direct payroll and Social Security deposits.
Certificate of Deposit
With competitive rates and predictable growth, CDs can help you save for major milestones and future financial goals.
Young Peoples Savings
Designed for children and teens ages 0-17, Young Peoples Savings helps families teach the importance of saving early.
CDARS
CDARS allow those with larger balances to access expanded FDIC coverage while working with a single financial institution.
Health Savings Account
A Health Savings Account (HSA) provides a tax-advantaged way to set aside money for current and future healthcare costs.
Christmas Club Savings
Save gradually throughout the year for gifts, travel, and holiday expenses, reducing the stress that comes with seasonal spending
Why We’re the Best Bank to Open an Account With
Peoples offers award-winning customer service, personalized support, and easy access to local branches. Discover why so many customers choose us as their community bank.
Frequently Asked Questions
What is the difference between a savings account and a money market account?
A traditional savings account is typically ideal for everyday savings and emergency funds, while a money market account may offer higher earning potential for customers who maintain larger balances. If you’re looking for a way to earn more while preserving access to your funds, a money market account may be worth considering. The right choice depends on your savings goals, balance levels, and how often you expect to access your money.
How do savings interest rates work?
Savings interest rates determine how much you can earn on the money you keep in your account. Over time, interest earnings can help your savings grow beyond the money you contribute yourself. Savings rates vary by account type, which is why customers often compare traditional savings accounts, money market accounts, and Certificates of Deposit when deciding where to keep their funds.
What is a high-yield savings account?
A high-yield savings account generally offers a higher interest rate than a traditional savings account. Customers often compare money market accounts and high-yield savings accounts when seeking higher earnings.
What is a Health Savings Account (HSA)?
A Health Savings Account (HSA) is a tax-advantaged savings account that allows eligible individuals to set aside money for qualified healthcare expenses now and in the future. Funds contributed to an HSA can be used for a wide range of medical costs, including doctor visits, prescriptions, deductibles, copayments, and other qualified healthcare expenses.
Is online and mobile banking available with a savings account?
Online and mobile banking gives you convenient access to your savings account whenever and wherever you need it. You can monitor balances, review account activity, transfer funds between eligible accounts, set up account alerts, and track progress toward savings goals.
Can I open a savings account online?
Yes. The following savings accounts are eligible for online account opening:
Are savings accounts FDIC-insured?
Peoples Bank is an FDIC-member bank, meaning our deposit accounts are insured up to $250,000. Coverage limits may vary based on ownership category and account structure. Many customers choose FDIC-insured savings accounts because they offer a secure way to grow savings while maintaining access to their funds when needed.
Why should I consider keeping my money in a savings account?
A savings account provides a secure place to store money while keeping funds available for future needs and with the potential to earn interest on account balances. Whether you’re saving for a vacation, home purchase, emergency fund, healthcare expenses, retirement, or holiday spending, a dedicated savings account can help you stay organized and disciplined. Separating savings from everyday spending accounts can make it easier to track progress toward financial goals and build long-term financial confidence.
