Peoples Bank SB first started operating in 1916 and has its headquarters in Munster, Indiana. Peoples Bank SB has $925 million in assets and $793 million in deposits, ranking it as a medium-size bank. Peoples Bank SB 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 in-person service, in addition to its online and mobile offerings. SmartAsset has rated Peoples Bank SB 4 out of 5 stars, which means it is a good bank that you should consider. Peoples Bank SB has the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Peoples Bank SB has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Peoples Bank SB's ordinary checking account does not have a monthly fee. Institutions that offer free checking and a high interest rate savings account are the best bet for accruing the highest income on your deposits alongside easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Peoples Bank SB has a savings rate of 0.05%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 0.25%, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.
How Peoples Bank SB's Savings Rates Compare
Peoples Bank SB charges customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, making it excellent for anyone looking for a simple account. Peoples Bank SB unfortunately does not refund out-of-network ATM charges, meaning you'll need to locate a Peoples Bank SB ATM or accept the cost of withdrawal.
Peoples Bank SB is a brick-and-mortar bank, with 16 total bank locations in Indiana. It also offers access to mobile and web apps for an easy mobile-banking experience. Peoples Bank SB's online and mobile banking platforms get mediocre feedback from users. The Peoples Bank SB mobile app scored a 3.3 out of 5 (out of 63 reviews on Apple and Android) compared to the national average of 3.8. Peoples Bank SB's mobile app lets you manage your funds by looking at monthly statements, transferring funds as well as reaching support representatives. Peoples Bank SB receives a superb consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Peoples Bank SB is currently a medium-size bank with assets totaling $925 million and $793 million in deposits. It has a strong Texas Ratio of 7.10%, signifying a small likelihood of failure. Additionally, Peoples Bank SB is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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.Back to Overview
Compare Peoples Bank SB to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$200|
|Checking Account||0.07% APY||$1|
|Certificates of Deposit|| ||$2500 for all terms|
|Money Market Accounts||0.05% APY 0.1% APY||$10000 $15000|
Peoples Bank SB offers 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 SB does not have the best savings rate, which means you should think about looking elsewhere 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 SB's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a Peoples Bank SB Near Me
Peoples Bank SB has 16 physical locations in the U.S.Back to Overview