Certificates of Deposit (CDs) Request Info. Rates Calculator. Save on your schedule — with returns that you can rely on. Get higher rates on longer-term CDs, so the longer you save the more you can expect back. Put some guarantees into your savings plan. In 1998, PBT acquired Nickerson State Bank and The Farmers State Bank (Yoder, Kansas), with The Lyons State Bank acquired in 2019. Peoples Bank and Trust is currently the 23 rd largest bank headquartered in Kansas, with assets in excess of $738 million and more than 27,000 customer accounts. Rates effective as of CD Specials up to $250,000 per term available for Peoples customers with an active checking account. Most CDs are automatically renewable. Special CD terms renew automatically into a standard term upon maturity. A penalty may be imposed for early withdrawal. The minimum opening deposit for an IRA CD. How People’s United Bank’s CD rates compare. People’s United Bank offers a decent rate for its 1 year and 2 year CDs (as of Sept. 18, 2018, that is). The rest of its rates are near rock bottom, however. To be sure, the rates that People’s United Bank offers on its CDs. If you’re looking for a bank that is dedicated to providing personalized service, visit one of our Financial Centers or contact us at 888-846-1970. We’re always here to help. We’re always here to help.

• No minimum deposit requirement
• Can open online or in a branch

• Branch locations only in the Northeast
• Lower rates for shorter term lengths

• Northeastern bankers who have People’s United checking accounts

If you are looking to open a certificate of deposit (CD) account, People’s United Bank offers many different term lengths and no minimum deposit requirements. Although the majority of the rates offered are less than competitive with the best CD rates out there, rates for 12-month and 24-month CDs are both at 0.10% or above, making them attractive options.

Customers are able to open accounts online, but with nearly 400 branches in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine, you’re very likely to be near a branch if you live in the Northeast. Rates and available term lengths can vary depending on which branch you visit. For the purposes of this article, we’ll be referring to the rates and term lengths available to those who open an account online.

91-Day CD Interest Rate Comparison

Overview of People’s United Bank CD Rates

People’s United Bank offers a wide variety of term lengths ranging from three months to five years. The abundance of options makes it an attractive destination for those looking to set up a CD ladder and receive payouts at semi-regular intervals. You have the option of opening a CD account online or going to a physical branch location, although specific rates may vary from location to location.

If you need to withdraw your money before the maturity date of your CD, then you will have to pay an early withdrawal penalty, which can be fairly substantial depending on your term length. For term lengths of 7 to 31 days (these are not available online), your penalty will be all the interest you would have earned on the amount you’re withdrawing. For term lengths of 32 to 365 days, your penalty will be 1% of the amount you’re withdrawing plus $25. So, let's say you opened a 12-month CD with a deposit amount of $3,000. If you needed to withdraw $1,500 after six months, you would pay a penalty of $40.

Lucky tiger no deposit bonus codes 2020 promo. If your term length is longer than one year, you’ll pay a penalty of 3% of the amount you’re withdrawing plus $25. For example, if you were to make a $5,000 deposit in a 24-month CD and then withdraw $3,000 after a year, you would face a penalty of $115.

Once your CD reaches maturity, you will begin a grace period of 10 days, during which you may withdraw your money without penalty and either hold on to it or place it in a CD with a different term length. If you do nothing, the bank will renew you for a CD of the same term length as the one that just matured.

How Much You Earn With a People’s United Bank CD Over Time

Interest on CDs compound continuously, and interest is credited to your account monthly. Once your interest is credited to you, you can withdraw it from your account. Keep in mind, however, that this will limit the amount of total interest you can earn, as you will be keeping some of your interest from earning its own interest. Note that the below figures were calculated assuming that no interest is withdrawn during the term.

How People’s United CD Rates Compare to Other Banks'

People's United Bank Cd Rates

A CD account with People’s United Bank will net you more in interest than a CD at a large, national bank like Chase. Consequently, People’s United could be a good option to consider for in-person bankers. That said, you can still find more competitive rates with an online establishment like Ally, specifically if you're looking at term lengths on the very short and very long end of the spectrum.

Compare People’s United Bank to Other Competitive Offers

Should You Get a People’s United CD Account?

Peoples Savings Bank Cd Rates

If you already have a People’s United checking account and you can access slightly higher rates, then a People’s United CD could be an attractive option to consider. If you are flexible about term lengths, then you should choose either a 36-month or 60-month term, as those two rates are significantly higher than any others.

Peoples Bank Cd Rates Indiana

If you are looking to purchase a shorter term length, then you will probably be able to find a more competitive rate elsewhere, especially if you’re comfortable banking online. Make sure to read up on all options so you’re aware of any fees that may apply.