Checking Rates

RATES
Account APY Rate
eChecking 2.00% 1.98%

The average interest earning checking rates pay a measly 0.43% APY¹. At Peoples Bank of Alabama, our eChecking Account, you will have checking rates that are among the highest in the country and all the benefits you expect from a full featured checking account.

 

 

New Deposit Insurance Limits

President Barack Obama on May 20, signed into law a bill that increases the FDIC's borrowing authority with the U.S. Treasury Department and extends the agency's $250,000 deposit insurance coverage limit through 2013.

 

Summary of Deposit Insurance Coverage

 

FDIC

 

1. Source: MSN Money as of 10/09/2008.
PLEASE READ THE IMPORTANT DISCLOSURES BELOW This account requires a $500 minimum deposit to open. There is a monthly maintenance fee if the average daily balance is $4,999 or below of $7.50 per month. This is a variable rate account and your interest rate and annual percentage yield may change daily. We use the average daily balance method to calculate the interest on your account. This method determines the average balance by adding the full amount of principal in the account for each day within the statement period and dividing that figure by the number of days in the statement period. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest for the account is compounded daily and credited to your account on your monthly statement cycle date.
* on balances up to $25,000.00 Balances over $25,000 earn 1.50% APY. If requirements are not met, the APY on all balances will be 0.25% and normal ATM fees will apply. Annual Percentage Yield (APY). Rates are effective Oct 15, 2009 and subject to change. Available on personal checking accounts only. When you meet the minimum requirements, you automatically get ATM fee refunds up to $6 per statement cycle.