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Home Personal Banking Today's Deposit Rates

Here Are Today's Deposit Rates:

RewardsPLUS Checking, RewardsPLUS Saver, Rewards Checking and Rewards Saver

Account NameMinimum Balance to Open AccountMinimum Balance to Obtain APYBalance FromBalance ToRate1APY1Monthly Qualifications2
RewardsPLUS Checking$100.00$0.01$0.01$10,0003.45%3.50%met
$10,000.01and above0.10%range of 3.50% - 0.41% depending on the balancemet
$0.01and above0.05%0.05%not met
RewardsPLUS Saver$100.00$0.01$0.01and above3.45%3.50%met
0.05%0.05%not met
Rewards Checking$100.00$0.01$0.01$15,000.000.75%0.75%met
$15,000.01and above0.10%range of 0.75% - 0.18% depending on the balancemet
$0.01and above0.01%0.01%not met
Rewards Saver$100.00$0.01$0.01and above0.55%0.55%met
0.01%0.01%not met

 

Checking

Account NameMinimum Balance to Open AccountMinimum Balance to Obtain APYBalance FromBalance ToRate1APY1
Prestige Checking$100.00$300.00$300.00$9,999.990.17%0.17%
$10,000.00$19,999.990.20%0.20%
$20,000.00$49,999.990.22%0.22%
$50,000.00and above0.30%0.30%
Commercial Checking with Interest$250.00$0.01$0.01and above0.35%0.35%
earnings credit 0.80%

 

Savings

Account NameMinimum Balance to Open AccountMinimum Balance to Obtain APYBalance FromBalance ToRate1APY1
Savings Account$100.00$300.00$300.00and above0.37%0.37%
Health Savings Account (HSA)$1.00$300.00$300.00$9,999.990.15%0.15%
$10,000.00and above0.30%0.30%
Premier Money Market Account$25,000 new money$0.01$0.01$24,999.991.88%1.90%
$25,000.00and above3.94%4.01%
Money Market Account$2,500.00$0.01$0.01$9,999.990.65%0.65%
$10,000.00$24,999.990.70%0.70%
$25,000.00$49,999.990.75%0.75%
$50,000.00and above0.800.80%
Business Savings$100.00$300.00$300.00and above0.37%0.37%

 

Certificates of Deposit and IRAs

Account NameMinimum Balance to Open AccountMinimum Balance to Obtain APYBalance FromBalance ToRate1APY1
7 Month CD³ Special$10,000.00$10,000.00$10,000.00and above3.95%4.01%
11 Month CD & IRA³ Special$10,000.00$10,000.00$10,000.00and above3.79%3.85%
18 Month Flex CD⁴$1,000.00$1,000.00$1,000.00and above3.11%3.15%
6 Month CD & IRA³

$5,000.00

$3,000.00 for IRA

$5,000.00

$3,000.00 for IRA

$5,000.00$99,999.992.67%2.70.%
$100,000and above2.87%2.90%
12 Month CD & IRA³

$5,000.00

$3,000.00 for IRA

$5,000.00

$3,000.00 for IRA

$5,000.00$99,999.992.73%2.76%
$100,000.00and above2.98%3.01%
24 Month CD & IRA³

$5,000.00

$3,000.00 for IRA

$5,000.00

$3,000.00 for IRA

$5,000.00$99,999.993.02%3.05%
$100,000.00and above3.21%3.25%
36 Month CD & IRA³

$5,000.00

$3,000.00 for IRA

$5,000.00

$3,000.00 for IRA

$5,000.00$99,999.993.02%3.05%
$100,000.00and above3.21%3.25%
48 Month CD & IRA³

$5,000.00

$3,000.00 for IRA

$5,000.00

$3,000.00 for IRA

$5,000.00$99,999.993.06%3.10%
$100,000and above3.31%3.35%

 

Variable Rate IRA

Account NameMinimum Balance to Open AccountMinimum Balance to Obtain APYBalance FromBalance ToRate1APY1
18 Month Variable Rate IRA5$250.00$250.00$250.00and above2.97%3.00%
All rates quoted are valid as of 9/17/2024 unless otherwise noted.
1 The interest rate and the Annual Percentage Yield (APY) are subject to change at the Bank's discretion, at any time without limitation. We use the daily collected balance method to calculate the interest in your account.   This method applies a daily periodic rate to the principal in the account each day.   Interest will be compounded and credited to your account on the last day of the current statement cycle.   The APY assumes monthly compounding on personal and business checking, money market accounts, HSA accounts; and quarterly compounding on personal and business savings accounts.  Interest begins to accrue no later than when we receive credit on non-cash items (for example, checks).  Fees may reduce earnings. 
2 RewardsPLUS monthly qualification cycle requirements: at least 1 direct deposit or multiple direct deposits of $500 or more and 20 debit card purchases totaling $75 or more must post and settle to RewardsPLUS Checking account and must be enrolled and agree to receive eStatements.  Rewards Checking monthly qualification cycle requirements: 1 automatic payment or direct deposit and 12 debit card purchases must post and settle to Rewards Checking account and must be enrolled and agree to receive eStatements. 
3 APY assumes quarterly compounding and that interest will remain on deposit until maturity. A withdrawal will reduce earnings. Penalties may be imposed for early withdrawal.
4 APY assumes quarterly compounding and that interest will remain on deposit until maturity. A withdrawal will reduce earnings. Penalty may be imposed for early withdrawal if made within the first seven days after account opening. You may close out the CD or make withdrawals in increments of $1,000 without penalty, after the account has been open for 8 days.
5 The interest rate and APY are subject to change at the Bank's discretion, at any time without limitation. APY assumes quarterly compounding and that interest will remain on deposit until maturity. A withdrawal will reduce earnings. Penalty may be imposed for early withdrawal. You may make additional contributions to your IRA as is allowable by IRS contribution limits.
For municipalities and other public funds please call for a rate quote.
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What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
  2. We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account.  It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

 

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

 

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
  • No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
  • There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

 

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance.  If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

 

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.    

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

 

Alternate ways to Opt In/Out or make changes:

  • By Phone.   Our Customer Care Representatives can be reached at 815-936-7600.
  • By Mail.   Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
  • In Person.  Please visit your local office and ask a representative to help you decide which plan is best for you.