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    Kankakee, IL

    (815) 936-7600

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    Kankakee Downtown Office

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    333 E. Court Street
    Kankee, IL 60901

    Phone: (815) 936-7600
    Fax: (815) 932-5009

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      333 E. Court Street - Kankakee

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Rewards Checking

Home Personal Checking Rewards Checking

Earn Up To 1.01% APY*

You deserve rewards, and Peoples Bank wants to give them to you.  Rewards Checking is our top-tier, premium checking account, offering the ease of online banking with the highest interest rates, up to 1.01% APY on balances up to $15,000. You also earn refunds on your ATM fees* nationwide. Plus, there's no minimum balance required to get these amazing benefits. Open your account today to start earning your rewards.

Benefits of Rewards Checking

  • 1.01% APY on balances up to $15,000 if qualifications are met each monthly qualification cycle
  • Nationwide ATM Fee Refunds up to $25*
  • Free Debit Card
  • Free Online Banking with Bill Pay
  • Free Mobile App & Text Alerts*
  • Free e-Statements
  • No monthly charge or minimum balance required to earn rewards
  • Rewards Saver - An automatic savings solution that can be conveniently linked to your Rewards Checking account
  • Minimum to open account is $100.00

Qualifications for Rewards Checking

Three simple qualifications to meet for each monthly qualification cycle:

  1. 12 or more debit card purchases must post and settle
  2. At least 1 Automatic Payment or Direct Deposit must post and settle*
  3. Enroll in and agree to receive eStatements

 

What if qualifications are not met for a monthly qualification cycle?

Your account will still function as a free checking account earning 0.10% APY; however, it will not receive ATM fee refunds for that time period. You can begin earning your rewards the very next month.

 

Interest Rates for Rewards Checking

When qualifications are met, you get the highest rewards. Check this out:

  • 1.01% APY on balances up to $15,000 if qualifications are met each monthly qualification cycle
  • 0.15% APY on balances over $15,000 if qualifications are met each monthly qualification cycle
  • Base rate of 0.10% APY on all balances if qualifications are not met

 

Apply now Check Out Rewards Saver

 

*Annual Percentage Yield (APY) is accurate as of 9/1/18. See Rate Sheet for more details. There are no recurring monthly service fees associated with this account. Fees may reduce earnings.When qualifications are met during the Monthly Qualification Cycle: you receive 1.01% APY on balances up to $15,000, and balances over $15,000 earn 0.15% APY on the portion of the balance over $15,000 resulting in a range from 1.01% APY – 0.26% APY depending on the balance. In addition, account will receive reimbursements up to $25 (up to $4.99 per single transaction) for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified. ATM receipt must be presented for reimbursement of ATM fees of $5.00 or higher. If qualifications are NOT met during the Monthly Qualification Cycle: All balances earn 0.10% APY and nationwide ATM fees are not reimbursed. Transactions and activities may take one or more business days from the date the transaction or activity occurred to post and settle to the account. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts and debit card transactions processed by merchants and received by Peoples Bank as ATM transactions. Monthly Qualification Cycle is a period beginning one business day prior to the first day of the current statement cycle through one business day prior to the close of the current Statement Cycle. Statement Cycle begins on the second business day of the month and ends on the first business day of the following month. If you have a Rewards Saver account linked to your Rewards Checking account, the interest does not compound in that account since it is transferred into the Rewards Saver account. The Rewards Saver APY may be less than the Rewards Checking APY. No minimum balance is required to obtain the account's rewards. 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 every month on the last day of the current Statement Cycle, as assumed by the APY disclosed above. Interest begins to accrue no later than when we receive credit on non-cash items (for example, checks). The interest rate and annual percentage yield (APY) may change at any time. There is a limit of 1 account per social security number. This account is not to be used for commercial purposes. Enrollment in electronic services (e.g. online banking, electronic statements) will be required to meet some of this account's qualifications. Your mobile carrier's message and data rates may apply.

An account that is closed within 6 months of the opening date will be charged a fee of $20.