The amount required to open a checking or savings account is low. People's United checking accounts only require $25 to open. The savings accounts require $50.

Two of the People's United checking accounts offer free ATM use or reimburse ATM fees. The Advantage checking account has unlimited rebates for out of state ATM fees. The Premier Advantage checking account has free ATMs, including international ATMs. These accounts require high investment balances to waive the monthly fee. The Advantage is $7,500, and the Premier is $75,000 across all investment accounts.

People's United offers a variety of CD term lengths. Their terms range from 91 days to five years. The interest rates vary depending on the term. The best interest rate on a People's United CD is the One Year Plus CD. Those interest rates are competitive with other online accounts; the other rates are not.

There are a variety of different business accounts offered through People's United. Checking, savings, and money market accounts are available. CDs, credit cards, loans, and investment opportunities are available.

People's United accounts are not offered everywhere. The branches are currently in the North Eastern states. Those include Connecticut, Maine, Massachusetts, New Hampshire, New York, and Vermont. If you do not live in one of these states, you cannot open an account with People's United Bank.

The amount required to open a money market account is $2,500. There is not a monthly maintenance fee on the money market account. You will earn interest on the money deposited into the account. The money market account offers tiered interest rates. This means the interest you earn depends on the amount you have in the account.

The interest rates of the different accounts are not competitive. They are much lower than other online-only accounts. The interest rates are similar to your typical bank rates. The Plus CDs offer slightly more competitive rates.

You have to have a checking account with People's United to open a savings or money market account. The checking account determines what savings and money market account you can open. You must open a checking account before a savings account can be opened.

Read the full People's United Bank review.

Luana Savings Bank offers competitive rates on their accounts. The rates are competitive with other online accounts. The interest rates could change depending on your location. Contact Luana employees to find out the rates you could earn on the accounts.

There are a variety of different accounts offered through Luana Savings Bank. The personal deposit accounts include a budget, VIP, and a senior checking account. They offer money market and savings accounts. A variety of different CD terms are offered. Luana also offers accounts for kids, including a 12-month CD.

The required amount to open an account with Luana is low. The savings account requires $50 to open. Checking accounts do not have a set amount required to open the accounts. The CD for kids requires $500 to open. Each different CD term requires $1,000 to open. The interest money market account requires $2,500 to open.

Luana Savings Bank offers three special term length CDs. The interest rates on these terms are slightly more competitive than the other CD rates. The terms include a 9-month, 26-month, and 42-month term. The 9-month and 26-month terms require $5,000 to open. The 42-month term only requires $1,000 to open.

Some Luana accounts have a monthly fee. The checking account fees range from $8 to $16 depending on the account. To waive the monthly fees requires keeping a set balance in the account. The balance is $1,000 or $2,500 for checking accounts. The VIP Club account has a fee that does not have an option to waive.

To earn the most competitive rate for Luana accounts requires large balances. The NOW account requires $100,000. The Insured MMA requires $250,000. CDs require over $100,000 to earn the most competitive rates. The lower rates are still competitive, but not the best rate offered.

Luana does not offer business accounts. Only personal deposit accounts are available through Luana Savings Bank. Those accounts include savings, checking, and money market accounts, along with CDs. Luana does offer commercial lending options.

Luana Savings Bank offers bill pay with their checking accounts. The bill pay is not free. There is a monthly fee of $4.95 to use bill pay. That fee is waived if you make at least three payments per monthly cycle. If you make more than 20, you will be charged $0.50 per transaction.

Read the full Luana Savings Bank review.