Business Sweep Cash Management Account

Peoples Business Sweep Cash Management Account

This account is designed to enable businesses to earn a higher rate on their excess funds in their checking account, over and above the amount needed to cover their monthly activity charges. An analysis is made of the checking account to determine the minimum balance required in that account to cover activity and the excess is transferred daily to or from the Business Sweep account to maintain that balance.

  • The minimum balance required in the Business Sweep account to earn the higher rate is $5,000.00. 
  • If the balance in the Business Sweep account falls below $5,000.00, the rate earned on the account reverts to the bank's basic savings rate.
  • There is a $5.00 per month fee for the Business Sweep account or $10.00 per month if notices are mailed regarding each transaction. 
  • This is a tiered rate account and rates will be posted in the lobby of the bank. 
  • The interest rate may change monthly.

  • Free Internet Banking. 

Current Interest Rate

 

Other Bank Fees

 

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The Peoples State Bank 200 E. Kirkwood Ave. Bloomington, IN 47408
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