Check out our current rates for deposit products, mortgages, and loans.
Mortgage Rates Consumer Loan Rates
Deposit Product Rates
All Rates Effective July 1, 2024 – Rates may change at any time without notice
| Special Products and Special Rates | ||||
|---|---|---|---|---|
| CD & IRA Specials | ||||
| Month Term | Fixed Interest Rate | Fixed APY | Opening Balance | Conditions |
| 3 | 4.51% | 4.60% | $500 | |
| 7 | 4.98% | 5.10% | ||
| 10 | 4.89% | 5.00% | ||
| 14 | 4.60% | 4.70% | ||
| 26 | 3.93% | 4.00% | ||
| Money Market Accounts | ||||
|---|---|---|---|---|
| Personal Select Money Market Savings Account | ||||
| Tier | Variable Interest Rate | Variable APY | Opening Balance | Conditions |
| $0 – $24,999 | 0.70% | 0.70% | $500 | $1,000 required to earn interest |
| $25,000 – $99,999 | 1.80% | 1.81% | ||
| $100,000 – $499,999 | 2.30% | 2.32% | ||
| $500,000 – $999,999 | 2.40% | 2.43% | ||
| $1,000,000 + | 2.50% | 2.53% | ||
| IRA MMDA | ||||
| Product | Variable Interest Rate | Variable APY | Opening Balance | Conditions |
| All balances | 0.01% | 0.01% | $500 | None |
| Savings Accounts | ||||
|---|---|---|---|---|
| Product | Variable Interest Rate | Variable APY | Opening Balance | Conditions |
| Statement Savings | 0.03% | 0.03% | $25 | $100 required to avoid service charge; $25 required to earn interest |
| Checking Accounts | ||||
|---|---|---|---|---|
| Product |
Variable Interest Rate | Variable APY | Opening Balance | Conditions |
| Interest Checking | 0.01% | 0.01% | $25 | $750 required to avoid service charge |
| PrimeTime Checking | 0.01% | 0.01% | Must be 50 or older; $300 required to avoid service charge | |
All CDs and IRAs, unless otherwise noted, must maintain their opening balance to obtain the stated interest rate and APY.
All interest is compounded and credited monthly with the exception of Statement Savings which is compounded and credited quarterly and Seasons Club which is credited annually.
Must have a balance greater than $5,000 for interest to be paid by check for CD & IRA. Interest will not be compounded if mailed or transferred to another account.
Rates and annual percentage yields (APYs) on variable rate accounts may change after account opening.
Fees assessed to accounts may reduce the earnings indicated.
Early withdrawal penalties may apply to all Certificates of Deposit & Individual Retirement Account products.
Mortgage Rates
All Rates Effective July 2, 2024– Contact us for additional rate, point and term options. Rates may change at any time without notice.
| Fixed Rates – Purchase | |||||||
|---|---|---|---|---|---|---|---|
| Program | Rate | Points | Annual Percentage Rate* | Principal & Interest Payment | Rate Lock Period | Maximum LTV for Purchase | Comments |
| 30 Year Fixed | 7.625% | 0.00% | 7.730% | $707.79 | 60 | 95% | Rates are for credit scores 740 and above. Call us for rates on scores 739 and below. Waiver of Escrow +.25 adj Risk Based Pricing applies and there may be adjustments to your rate related to loan amount, loan-to-value, credit score and other variables. |
| 15 Year Fixed | 7.125% | 0.00% | 7.289% | $905.83 | 60 | 95% | |
*The Annual Percentage Rates and monthly payments disclosed above are based on a purchase price of $125,000 with a 20% down payment ($25,000) and a $100,000 loan.
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| Fixed Rates – Refinance | |||||||
| Program | Rate | Points | Annual Percentage Rate* | Principal & Interest Payment | Rate Lock Period | Maximum LTV for Refinance | Comments |
| 30 Year Fixed | 7.625% | 0.00% | 7.730% | $707.79 | 60 | 95% | Rates are for credit scores 740 and above. Call us for rates on scores 739 and below. Waiver of Escrow +.25 adj Risk Based Pricing applies and there may be adjustments to your rate related to loan amount, loan-to-value, credit score and other variables. |
| 15 Year Fixed | 7.125% | 0.00% | 7.289% | $905.83 | 60 | 95% | |
*The Annual Percentage Rates and monthly payments disclosed above are based on a loan amount of $100,000 with 20% equity in the property.
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| Fixed Rates – Jumbo | |||||||
| Program | Rate | Points | Annual Percentage Rate* | Principal & Interest Payment | Rate Lock Period | Maximum LTV for Purchase/Refinance | Comments |
| 30 Year Fixed Jumbo | 7.250% | 0.00% | 7.267% | $4,093.06 | 60 | 90% | Rates are for credit scores 720 and above. Call us for rates on scores 719 and below. Risk Based Pricing applies and there may be adjustments to your rate for lower credit scores or higher LTV. |
| 15 Year Fixed Jumbo | 7.000% | 0.00% | 7.027% | $5,392.97 | 60 | 90% | |
*The Annual Percentage Rates and monthly payments disclosed above are based on a purchase price of $750,000 with a 20% down payment ($150,000) and a $600,000 loan.
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| PeoplesBank lends in Pennsylvania and Maryland. Please call 888-846-1970 ext. 556 or stop by your local PeoplesBank Office for additional information |
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Consumer Loan Rates
Effective July 1, 2024
Please call 888-846-1970 or stop by your local PeoplesBank Office for additional information
Mortgage Rates
A mortgage rate is the interest rate that’s charged on the mortgage loan. This charge represents a percentage of your loan’s total balance and can have either a fixed rate or an adjustable-rate.
With a fixed mortgage rate, the amount in interest you pay will remain the same throughout the entire course of your loan. If you choose an adjustable-rate loan, the rate has the potential to go up or down as the market interest rates change.
When a lender calculates your mortgage rate, personal finances and economic conditions play a role in what the final amount of the loan ends up being. However, mortgage rates are not cut and dry. The employment rate, gross domestic product (GDP) and other economic growth indicators can significantly impact mortgage rates. Greater consumer spending and higher wages follow economic growth, inspiring more consumers to seek mortgage loans for home purchases.
The increase in demand for mortgages can cause rates to soar since lenders only have so much capital when it comes to lending.
Why Take out a Mortgage?
Advantages of a mortgage include:
- Makes homeownership more affordable: Because you can spread the repayments on your home loan over a more extended period, the amount you’ll pay back can be more affordable and manageable.
- A cost-effective way of borrowing: A mortgage is a loan secured against your property. For this reason, its interest rates tend to be lower than other forms of borrowing.
CD Rates
A certificate of deposit (CD) rate is a savings account in which you agree not to make any withdrawals for a predetermined amount of time. At the end of this period, you get your money back plus whatever was earned in interest.
A time-bound deposit, a traditional CD allows you to earn interest on your down payment by agreeing to let the lender use that money for a set period. The bank grants you a higher interest rate than they would if you had a standard savings account.
When you first open a CD, you can choose the amount of time you want to give your money to the bank. Common term lengths include three, four, five and six years and six, 12, 18, 24 and 30 months. CD rates can fluctuate based on current interest rates — if current interest rates are high or rising, CD rates will follow suit.
Benefits of Taking out a CD
The benefits of taking out a certificate of deposit include flexible maturity dates, low-to-no fees, safety and invaluable peace of mind when it comes to your money.
Reasons to open a CD may include:
- You don’t need the money immediately.
- You want to earn more interest than a regular savings account will pay.
- You expect to need your money within the next seven years.
Learn More About Rates at PeoplesBank
Whether you live in York, Lancaster or other cities throughout Maryland and Pennsylvania, PeoplesBank can help you determine if a CD or mortgage is right for your home or business. We are committed to building a lifelong relationship with you — something we’ve been perfecting since 1864.
Our team can talk through the Annual Percentage Rate (APR) and Annual Percentage Yield (APY) for each option. While the APR represents a yearly rate charged for borrowing, the APY measures the interest you earn when you save.
We invite you to fill out our online pre-qualification form to see our mortgage rates or learn more about our CD options today.