Savings Accounts

All savings accounts offer the option of Free PSBT Online Banking and EDIE Telephone Banking, 24 hours a day.

Full Disclosure of our savings accounts is available upon request.

Statement Savings Account

A basic interest earning account with a low minimum balance.

  • $100 minimum initial deposit
  • $100 minimum balance
  • $5 monthly service charge for balances below $100
  • Interest is compounded quarterly - day of deposit to day of withdrawal.
  • Interest is paid the end of the following months: February, May, August, and November
  • * Transfer and withdrawal restrictions apply. Please see the information below concerning restricted transactions.

Minor Savings Account

Start children of any age saving at any time.

  • No minimum initial deposit
  • No minimum balance
  • Earns interest on all positive balances
  • Interest is compounded quarterly - day of deposit to day of withdrawal.
  • Interest is paid the end of the following months: February, May, August, and November
  • * Transfer and withdrawal restrictions apply. Please see the information below concerning restricted transactions.

Certificate Savings Account

A unique hybrid account that combines the ease of a savings account with the competitive rate of a Certificate of Deposit.

  • $2,500 minimum initial deposit
  • Minimum balance of $2,500 required
  • $25 service charge if balance falls below $2,500
  • Unlimited deposits
  • No maturity date
  • Variable interest rate
  • One-time, customer initiated, withdrawal per calendar quarter without penalty
  • $25 service charge for every withdrawal made in excess of one per calendar quarter
  • Interest is compounded quarterly - day of deposit to day of withdrawal
  • Interest is paid the end of the following months: March, June, September, and December
  • * Transfer and withdrawal restrictions apply. Please see the information below concerning restricted transactions.

Health Savings Account

A tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.

  • Can only be opened for those with a High Deductible Health Plan (HDHP)
  • $50 minimum initial deposit
  • 2012 Annual contribution limits of $3,100 for individuals and $6,250 for families. Maximum contributions (individual or family) may change for each subsequent year.
  • For HSA holders age 55 and older, the 2012 Annual Contribution limits are $4,100 for individuals and $7,250 for families. Maximum contributions (individual or family) may change for each subsequent year.
  • Deposits can be made by anyone (individual, employer, church, etc.) for any amount at any time. Subsequent deposits cannot exceed the cap (individual or family) as set by the U.S. Treasury Department.
  • No maturity date
  • Can be accessed by check or special Health Savings Account Debit Card
  • Interest is compounded monthly - day of deposit to day of withdrawal
  • If the account is closed before interest is posted, accrued interest will not be paid

Statement Savers CLUB

The convenience of our CLUB account makes saving easy.

  • $100 minimum initial deposit
  • Deposits automatically transferred from another PSBT account weekly, monthly or bi-weekly
  • One-time, customer initiated, withdrawal per calendar year without penalty
  • Interest is compounded annually - day of deposit to day of withdrawal.
  • Interest is paid the end of December each year.
  • * Transfer and withdrawal restrictions apply. Please see the information below concerning restricted transactions.

Restricted Transactions

Savings account depositors are not permitted to make more than six (6) restricted transfers or withdrawals in any combination per calendar month.

Restricted transfers and withdrawals include:

  • Automatic or electronic transfers to the account of the same depositor at Peoples Security Bank and Trust if made by:
    • Autodraft - to checking or savings
    • Automatic Transfers by telephone
    • PSBT Internet Banking Service (PSBT Online)
    • PSBT EDIE Telephone Banking Service
  • Transfers or withdrawals to third parties each month including:
    • ACH preauthorized transfers
    • Automatic transfer by telephone
    • PSBT Internet Banking Service (PSBT Online Billpay)

Unrestricted Transactions

An unlimited number of savings withdrawals or transfers are allowed in the following situations:

  • When the withdrawal is made in person, or by ATM
  • When the withdrawal is made by telephone with a check mailed to the customer
  • When the transfer is made in person between accounts of the same depositor at Peoples Security Bank and Trust
  • When the transfer is made between accounts of the same depositor at the ATM
  • When the transfer is to repay a loan at Peoples Security Bank and Trust by autodraft