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PeoplesSouth Bank Review

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PeoplesSouth Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


PeoplesSouth Bank was founded in 1973 with its headquarters in Colquitt, Georgia. PeoplesSouth Bank handles assets of $722 million and deposits totaling $644 million, classifying it as a medium-size bank. PeoplesSouth Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We ranked PeoplesSouth Bank at a 4.4 out of 5 stars, indicating that it is a great bank that you should seriously consider. PeoplesSouth Bank has a diverse array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, PeoplesSouth Bank offers an option without 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 while having easy 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

PeoplesSouth Bank has a savings rate of 0.25%, which is poor compared to the average U.S. bank. PeoplesSouth Bank's one-year CD has a rate of 1.86% and the five-year CD earns at a rate of 2.57%, while its highest-yielding money market account earns at a rate of 0.60%. Given PeoplesSouth Bank's poor savings rate, you should think about other options to earn more on your deposits.

How PeoplesSouth Bank's Savings Rates Compare

PeoplesSouth Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

PeoplesSouth Bank generally has extremely low fees compared to the average U.S. bank. With no monthly fee, PeoplesSouth Bank is perfect for those who want a basic checking account. PeoplesSouth Bank does not reimburse out-of-network ATM fees, which means you will have to locate a PeoplesSouth Bank ATM or accept the 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

PeoplesSouth Bank is a brick-and-mortar bank, with 29 total branches in Alabama, Florida and Georgia. It also offers access to mobile and web apps for simple access and banking on the go. PeoplesSouth Bank's online and mobile banking services get moderately high praise from users. The PeoplesSouth Bank mobile app has an overall rating of 4.3 out of 5 (out of 22 customer reviews on Apple and Android) compared to the national average of 3.8. PeoplesSouth Bank's mobile app allows you to control your accounts by reviewing account balances, transferring funds and reaching support representatives. PeoplesSouth Bank receives an exceptional consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

PeoplesSouth Bank is currently a medium-size bank and manages $722 million in assets as well as deposits totaling $644 million. Its Texas Ratio is 12.72%, denoting a tiny opportunity of failure. Additionally, PeoplesSouth 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 PeoplesSouth Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $200
Checking Account 0.25% APY $1500
Certificates of Deposit
  • 12 Month: 1.86% APY
  • 24 Month: 2.07% APY
  • 36 Month: 2.57% APY
  • 48 Month: 2.57% APY
  • 60 Month: 2.57% APY
$500 for all terms
Money Market Account 0.5% APY $2500

PeoplesSouth Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. PeoplesSouth Bank does not have the best savings rate, which means you should think about 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. PeoplesSouth Bank's CD rates are fair compared to other U.S. banks.

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Find a PeoplesSouth Bank Near Me

PeoplesSouth Bank has 29 branches across the U.S.

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