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Peoples Bank Review

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Peoples Bank Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Peoples Bank started in 1902 and is headquartered in Marietta, Ohio. It handles assets of $4 billion and deposits totaling $3 billion, classifying it as a large bank. Peoples Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4 stars out of 5, Peoples Bank is a respectable bank that deserves your consideration. Peoples Bank provides customers with a complete array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Peoples Bank's most basic checking does not have a monthly fee. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best option for gaining the highest income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Peoples Bank has a savings rate of 0.07%, which is fair compared to other U.S. banks. Its one-year CD earns at a rate of 0.35% and the five-year CD has a rate of 1.66%, while its highest-yielding money market account has a rate of 0.20%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Peoples Bank's Savings Rates Compare

Peoples Bank Savings 0.07 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Peoples Bank has generally extremely low fees as compared against the national average. With no monthly fee, Peoples Bank is perfect for those who want a simple banking experience. Peoples Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will need to locate a Peoples Bank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Peoples Bank is a brick-and-mortar bank, with 74 total bank locations in Kentucky, Ohio and West Virginia. It also offers access to mobile and web apps for a simple mobile-banking experience. Peoples Bank's online and mobile banking services get poor marks from users. Out of 250 customer reviews across both iOS and Android platforms, the Peoples Bank mobile app rates a 2.3 out of 5 (compared to the national average of 3.8). You can utilize Peoples Bank's app to manage your funds by looking at account balances, sending and receiving funds as well as reaching customer service. Peoples Bank gets an exceptional consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Peoples Bank is a large bank and has $4 billion in assets as well as $3 billion in deposits. Its Texas Ratio is 3.89%, suggesting a negligible likelihood of failure. Additionally, Peoples Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Peoples Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $100
Checking Account 0.06% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.05% APY
  • 60 Month: 1.66% APY
$500 for all terms
Money Market Account 0.2% APY $10000

Peoples Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Peoples Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Peoples Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Peoples Bank Near Me

Peoples Bank has 74 branches across the U.S.

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