Certificates of deposits (CDs) are a great way to earn more on your money than a traditional savings account.   Peoples Savings Bank offers terms from as short as three months up to five years.

PSB also offers a 12-Month Youth CD for kids under the age of 18.  You can also add on to this CD throughout the year with $100 minimum deposit.

CD Features:

  • FDIC Insured, up to $250,000 per depositor.
  • Variety of time frames to meet your needs.
  • Interest can be chosen to be added to the CD, or automatically deposited into a checking or savings account.

CDs must be opened at a branch and are not able to be opened online.  Please visit one of our locations to open a CD today.

Certificate of Deposit Rates

Rates as of February 15, 2024

CD TermInterest RateAnnual Percentage Yield (1APY)Minimum Deposit to Open AccountEarly Withdrawal Penalty (EWD2)
3 Month 0.50% 0.50% $1,000 2%
6 Month

yes

5.15% 5.27% $1,000 2%
8 Month

yes

5.50% 5.64% $1,000 2%
10 Month 4.15% 4.24% $1,000 2%
12 Month 2.00% 2.02% $1,000 2%
13 Month 4.25% 4.34% $1,000 2%
18 Month 3.05% 3.09% $1,000 2%
24 Month 2.50% 2.53% $1,000 2%
36 Month 2.25% 2.27% $1,000 2%
48 Month 2.00% 2.02% $1,000 2%
60 Month 2.00% 2.02% $1,000 2%
12 Month All-Star Youth 2.00% 2.02% $300 2%

1APY = Annual Percentage Yield; fees could reduce earnings on accounts.

2An Early Withdrawal Penalty (EWD) may be imposed for early withdrawal.

Interest rates and annual percentage yields are current as of the effective date at the top of this rate sheet.  The Minimum Deposit to Open Account Amounts is the minimum balance required to earn the disclosed Annual Percentage Yield.  Fees may reduce earnings on the account.  All rates are subject to change without notice and a withdrawal of interest will reduce earnings.