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Save For a Rainy Day & Bright Future

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Check out our highest APY - when you meet qualifications!  Must have RewardsPLUS Checking.

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When qualifications are met in Rewards Checking, earn a great interest rate!  Must have Rewards Checking.

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Earn interest and start saving for a rainy day….and for a bright future.

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Start earning our highest 3.50% APY* when you open the account with the required $25,000 new money deposit.

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Earn money market interest rates and have access to your funds with check writing privileges.

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Minimum to open$100$100$100

$25,000

new money

$2,500
Pricing options per monthNo monthly chargesNo monthly charges$3 per month OR $0 per month if you maintain a balance of $300 or moreNo monthly charges.  If there are more than 10 withdrawals of any type each month, $1 charge each for transactions that exceed 10**$10 per month OR $0 if you maintain an average daily collected balance of $2,500

 

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*Annual Percentage Yield (APY) effective as of /41/2025. At our discretion, the interest rate and APY may change at any time. The APY is paid on the entire balance in your account. Balances of $0.01 - $24,999.99 earn an interest rate of 1.64% and 1.65% APY; balances of $25,000.00+ earn an interest rate of 3.44% and 3.50% APY. A $25,000.00 deposit is required to open this account. The $25,000 opening deposit must be “new money” which is defined as money that is not currently on deposit at Peoples Bank.
Interest will be compounded and credited to your account every month on the last day of the current Statement Cycle, as assumed by the APY disclosed. We use the daily collected balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than when we receive credit on non-cash items (for example, checks).
FEES. There are no recurring monthly service charges associated with this account. **If there are more than 10 withdrawals of any type each month, there will be a charge of $1.00 each for transactions that exceed 10. Fees may reduce earnings. See separate disclosure “Common Features” for fees that may apply to the account. See “Effect of Closing Account” section below for additional information.
If you close your account before interest is credited, you will not receive the accrued interest. An account that is closed within 6 months of the opening date will be charged a fee of $20.00.
**Your mobile carrier's message and data rates may apply.
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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.