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Beneficial Bank

Overview / Commentary
1139 Chestnut Street
Philadelphia, PA 19107

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Reviews (2)


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 Grade Components

FDIC Certificate #17838
Year Established1832
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD2.73%
Annual Interest Income$99.6MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$12.14B$6.93B
LoansQ1 2019vs Q1 2018$8.69B$4.82B
DepositsQ1 2019vs Q1 2018$9.86B$5.25B
Equity CapitalQ1 2019vs Q1 2018$1.72B$810.3MM
Loan Loss AllowanceQ1 2019vs Q1 2018$46.3MM$40.8MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$35.1MM$35.2MM
Real Estate OwnedQ1 2019vs Q1 2018$2.2MM$2.6MM
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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

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

Beneficial Bank Money Market Rates

0.90%*$500k*-Personal Money Market
OTHER TIERS: 0.20% Up to $5k | 0.30% $5k - $25k | 0.75% $25k - $100k | 0.80% $100k - $500k
0.90%*$1m*-Business Money Market
OTHER TIERS: 0.20% Up to $5k | 0.30% $5k - $100k | 0.75% $100k - $500k | 0.80% $500k - $1m

Beneficial Bank Checking Account Rates

0.20%--Start Rewarding
0.10%--Start Benefiting
0.05%--Interest Checking

Beneficial Bank CD Rates

2.30%$500-18 Month CD
2.15%$500-12 Month CD
2.15%$500-24 Month CD
2.00%$500-36 Month CD
2.00%$500-48 Month CD
2.00%$500-60 Month CD
1.75%$500-6 Month CD
1.50%$500-3 Month CD

Beneficial Bank IRA Rates

2.30%$500-18 Month IRA
2.15%$500-12 Month IRA
2.15%$500-24 Month IRA
2.00%$500-36 Month IRA
2.00%$500-48 Month IRA
2.00%$500-60 Month IRA
1.75%$500-6 Month IRA


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