Money Market Accounts

Money Market Accounts: Personal and Non-Personal

A tiered money market account for personal and business customers.

Full Disclosure of our money market accounts is available upon request.

  • $2,500 minimum initial deposit
  • 4 Tiers
    • 1st $2,500 - $24,999
    • 2nd $25,000 - $49,999
    • 3rd $50,000 - $499,999
    • 4th $500,000 +
  • Interest rate is fixed for 1st and 2nd tiers according to current market conditions
  • Variable interest rate for 3rd tier
  • Balances between $1,000-$2,499 will accrue interest at the prevailing NOW account rate
  • $7 monthly service charge if daily balance falls below $2,500
  • Restricted Transactions - Money Market account depositors are not permitted to make more than six (6) restricted transfers or withdrawals in any combination per statement cycle.

Restricted transfers and withdrawals include:

Automatic or electronic transfers to the account of the same depositor at Peoples Neighborhood Bank if made by:

  • Autodraft - to checking or savings
  • Automatic Transfers by telephone
  • PNB Internet Banking Service (PNB Online)
  • PNB EDIE Telephone Banking Service
  • Transfers or withdrawals to third parties including:
    • ACH preauthorized transfers
    • Automatic transfer by telephone
    • PNB Internet Banking Service (PNB 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 Neighborhood Bank
  • When the transfer is made between accounts of the same depositor at the ATM
  • When the transfer is to repay a loan at Peoples Neighborhood Bank by autodraft