Overview / Commentary
215-864-6181
1139 Chestnut Street
Philadelphia, PA 19107

Beneficial Bank is headquartered in Philadelphia and is the 10th largest bank in the state of Pennsylvania. It is also the 195th largest bank in the nation. It was established in 1853 and as of June of 2018, it had grown to 787 employees at 62 locations. Beneficial Bank's CD rates are 2X the national average, and it has an A health rating.

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Reviews (2)

Beneficial

Posted by: gailnolan0 | Jan 1, 2018

I have been banking with Beneficial since 2nd grade, and continue to keep my savings with them even though I know live in an area where it is no longer convenient. They have been very good to me over the years, and when I started college they gave me an incredible interest rate for my savings account, as well as reimbursing me for all ATM fees. I cannot say enough good things about my bank, and I really trust them as a financial institution. I have always been greeted by a friendly face and willingness to help.

Sub par Level

Beneficial bank offers free checking, as long as my account stays at a minimum of $100. That's what drew me in, and it's local to my home. I don't like how they often place holds on my card without warning. They claim they're trying to benefit me from fraudulent activity, but the purchases are always on my end, never fraudulent. I am also not a fan of how the mobile app and website always require authenticity checks. I have to go through a string of email and text message verifications before I can even access my online information. I do like the mobile app, it allows me to deposit checks via a picture. All in all, I think the bank needs to be updated and offer better customer service.



Health

Health Grade Components

Overall
FDIC Certificate #15697
Year Established1853
Employees787
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.75%
Return on Equity - YTD4.64%
Annual Interest Income$102.9MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$5.77B$5.83B
LoansQ2 2018vs Q2 2017$3.98B$4.05B
DepositsQ2 2018vs Q2 2017$4.31B$4.27B
Equity CapitalQ2 2018vs Q2 2017$885.2MM$981.5MM
Loan Loss AllowanceQ2 2018vs Q2 2017$43.1MM$43.4MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$22.2MM$24.7MM
Real Estate OwnedQ2 2018vs Q2 2017$102.00K$300.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Beneficial Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Beneficial Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$2.5k*-Tiered Statement Savings (for Package Accounts)
OTHER TIERS: 0.25% Up to $1k | 0.30% $1k - $2.5k
0.50%*$1k*-Student Saver
OTHER TIERS: 0.30% Up to $500 | 0.40% $500 - $750 | 0.45% $750 - $1k
0.50%*$2.5k*-Campus Savings
OTHER TIERS: 0.30% Up to $500 | 0.35% $500 - $1k | 0.40% $1k - $1.5k | 0.45% $1.5k - $2.5k
0.35%--Club Statement Savings
0.25%--Statement Savings
0.15%--Passbook Savings
0.15%--Club Passbook Savings

Beneficial Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$500k*-Personal Money Market
OTHER TIERS: 0.65% Up to $5k | 0.70% $5k - $25k | 0.75% $25k - $100k | 0.80% $100k - $500k
0.30%*$1m*$3mBusiness Money Market
OTHER TIERS: 0.10% Up to $5k | 0.15% $5k - $100k | 0.20% $100k - $500k | 0.25% $500k+

Beneficial Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*-Start Growing
OTHER TIERS: 0.10% $2k - $10k | 0.15% $10k - $25k | 0.20% $25k - $100k
0.25%*$100k*-Professional Checking
OTHER TIERS: 0.10% $5k - $10k | 0.15% $10k - $25k | 0.20% $25k - $100k
0.20%--Start Rewarding
0.10%--Start Earning
0.10%--Start Benefiting
0.05%--Interest Checking

Beneficial Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.30%$500-60 Month CD
3.04%$500-48 - 59 Month CD
2.79%$500-36 - 47 Month CD
2.27%$500-24 - 35 Month CD
2.02%$500-12 - 23 Month CD
1.77%$500-6 - 11 Month CD
1.51%$500-3 - 5 Month CD

Beneficial Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.30%$500-60 Month IRA
3.04%$500-48 - 59 Month IRA
2.79%$500-36 - 47 Month IRA
2.27%$500-24 - 35 Month IRA
2.02%$500-12 - 23 Month IRA
1.77%$500-6 - 11 Month IRA
Locations

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