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Peoples National Bank Review

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Peoples National Bank Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Peoples National Bank first started operating in 1909 and is headquartered in Mount Vernon, Illinois. It owns $1 billion in assets and $1 billion in deposits, making it a medium-size bank. Peoples National Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With an average 3.9 stars out of 5, Peoples National Bank proves it is a good bank that should be given a look. Peoples National Bank has the full slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, 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, the bank's standard checking does not have a monthly maintenance fee. Finding an institution with no-fee checking, in addition to a high interest rate savings account is the best bet for getting the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Peoples National Bank features a savings rate of 0.02%, which is fair compared to other U.S. banks. Peoples National Bank 's one-year CD has a rate of 0.15% and the five-year CD earns at a rate of 1.12%, while its highest-yielding money market account has a rate of 0.03%. Given its below average savings rate, you should consider looking elsewhere to open savings accounts.

How Peoples National Bank 's Savings Rates Compare

Peoples National Bank Savings 0.02 National Average 0.26 Compare Offers
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Fees

4.8
SmartAsset Average: 4.4

Peoples National Bank charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, Peoples National Bank is ideal for those who want a basic banking experience. Additionally, it has an overdraft fee of $33.00, which is lower than the national average. Peoples National Bank doesn't reimburse out-of-network ATM charges, which means you'll have to find a Peoples National Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

3.6
SmartAsset Average: 3.7

Peoples National Bank is a brick-and-mortar bank, with 24 total branches in Illinois and Missouri. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Peoples National Bank 's online and mobile banking platforms receive mediocre feedback from users. With 120 ratings on both iOS and Android platforms, the Peoples National Bank mobile app is scored at 3.4 out of 5 (compared to the national average of 3.8). Peoples National Bank 's mobile app lets you control your accounts by looking at monthly statements, sending and receiving money as well as reaching support representatives. Peoples National Bank gets an excellent consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.3
SmartAsset Average: 4.8

Peoples National Bank is a medium-size bank with assets totaling $1 billion as well as $1 billion in deposits. Peoples National Bank 's Texas Ratio is 15.63%, suggesting that the bank is in fine financial condition and improbable to fail. Additionally, Peoples National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

15.63%
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 National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.02% APY $100
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.41% APY
  • 36 Month: 0.71% APY
  • 48 Month: 0.91% APY
  • 60 Month: 1.12% APY
$10000 for all terms
Money Market Account 0.02% APY $10000

Peoples National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Peoples National Bank 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 National Bank 's CD rates are fair compared to the national average.

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Find a Peoples National Bank Near Me

Peoples National Bank has 24 branches across the U.S.

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