Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Peoples National Bank Review

Your Details Done
by Updated
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 has $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 conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, Peoples National Bank is a respectable bank that deserves your consideration, with a score of 3.9 out of 5 stars from our team. Peoples National Bank offers the full selection of product offerings, including 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 looking for a checking account for everyday use, Peoples National Bank 's ordinary checking account does not have a monthly fee. Banks that offer no-fee checking, in addition to a high interest rate savings account are your best option for returning the highest income on your deposits alongside easy 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

With a savings rate of 0.02%, Peoples National Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.45% and the five-year CD earns at a rate of 1.51%, while its highest-yielding money market account has an APY of 0.03%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How Peoples National Bank 's Savings Rates Compare

Peoples National Bank Savings 0.02 National Average 0.26 Compare Offers
Back to Overview

Fees

4.8
SmartAsset Average: 4.4

Peoples National Bank generally has extremely low fees in comparison to the national average. With no monthly fee, Peoples National Bank 's checking account is ideal for people who want an easy checking account. Additionally, Peoples National Bank has an overdraft fee of $33.00, which is lower than that of other U.S. banks. Peoples National Bank unfortunately does not refund out-of-network ATM fees, which means you'll be required to find a Peoples National Bank ATM or eat the fee.

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
Back to Overview

Service Quality

3.6
SmartAsset Average: 3.7

Peoples National Bank is a brick-and-mortar bank, with 24 total bank locations in Illinois and Missouri. It also offers access to mobile and web apps for a simple mobile-banking experience. Peoples National Bank 's online and mobile banking services receive poor scores from users. The Peoples National Bank mobile app has been given a 3.4 out of 5 (out of 120 reviews on Apple and Android) compared to the national average of 3.8. You can utilize Peoples National Bank 's app to manage your accounts by monitoring current statements, sending and receiving funds as well as accessing customer service. Peoples National Bank receives an exceptional consumer satisfaction rating due to comparatively 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
Back to Overview

Financial Health

4.3
SmartAsset Average: 4.8

Peoples National Bank is currently a medium-size bank with assets totaling $1 billion and deposits totaling $1 billion. Peoples National Bank has a strong Texas Ratio of 15.63%, indicating a small opportunity of failure. 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.

Back to Overview

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: 0.45% APY
  • 24 Month: 0.71% APY
  • 36 Month: 1.11% APY
  • 48 Month: 1.31% APY
  • 60 Month: 1.51% 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 taking a look 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 average U.S. bank.

Back to Overview

Find a Peoples National Bank Near Me

Peoples National Bank has 24 locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure