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Time Deposits/IRAs

Time Deposits*
Want to earn more? Get total security and a guaranteed high rate of return with a Beneficial Time Deposit.

  • Terms from 3 months to 5 years
  • Deposit as little as $500
  • Rate locked in for the full term of the certificate
  • All terms 6 months or longer are available for your Beneficial Individual Retirement Account (IRA)
IRAs
Whether it’s a long way off or just around the corner, retirement is sweetest when you save for it. Below are several Individual Retirement Account (IRA) options to choose from:

Traditional IRA
This IRA, a variable-rate Time Deposit, offers tax deductions from current income taxes (based on established income limits) and IRS penalty-free withdrawals for educational expenses or purchasing a first home.
  • Minimum $10 balance
  • Direct deposit available from Beneficial checking or savings account
  • Tax-deferred earnings**
Roth IRA
Contributions to this IRA, a variable-rate Time Deposit, cannot be deducted from current income taxes, but earnings are tax-free as long as the plan has been in effect for at least five years and the account holder has reached age 59½.
  • Minimum $10 balance
  • Direct deposit available from Beneficial checking or savings account
Coverdell Education Savings Accounts (Formerly Education IRA) Contributions of up to $2,000 per year to these tax-free** variable-rate Time Deposit accounts for children under age 18 can be withdrawn for education-related expenses.
  • Minimum $10 balance
  • Direct deposit available from Beneficial checking or savings account
Health Savings Accounts (HSA)
Start saving for health care deductibles and expenses, while getting a nice tax benefit**.
  • HSA contributions by eligible individuals are tax-deductible**
  • HSA contributions by employers are excluded from income
  • HSA earnings are tax-deferred**
  • Beneficial Visa® Check Card to be used at approved medical-related retail outlets



  *Time deposit accounts may be subject to an early withdrawal penalty. Inquire for more details.
**Beneficial Bank always suggests you consult with your tax and financial advisors.


 


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WEALTH MANAGEMENT AND INSURANCE PRODUCTS
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
ARE NOT DEPOSITS ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY