Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Beverly Bank & Trust Company Review

Your Details Done
by Updated
Beverly Bank & Trust Company Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2004, Beverly Bank & Trust Company has assets totaling $1 billion along with $1 billion in deposits, ranking it as a medium-size bank. Beverly Bank & Trust Company, whose headquarters are in Chicago, Illinois, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We gave Beverly Bank & Trust Company a 4.3 out of 5 stars, suggesting it is a great choice and should warrant serious consideration. Beverly Bank & Trust Company offers a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Beverly Bank & Trust Company has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Beverly Bank & Trust Company offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best bet for getting the most income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.0
SmartAsset Average: 3.5

Beverly Bank & Trust Company features a savings rate of 0.15%, which is fair compared to the average U.S. bank. Beverly Bank & Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.30% and 0.90%, respectively, while its highest-yielding money market account has an APY of 0.20%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Beverly Bank & Trust Company's Savings Rates Compare

Beverly Bank & Trust Company Savings 0.15 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Beverly Bank & Trust Company has typically extremely low fees in comparison to the national average. With no monthly fee, Beverly Bank & Trust Company's checking account is ideal for those who need an easy banking experience. Beverly Bank & Trust Company doesn't refund out-of-network ATM charges, meaning you'll be required to search for a Beverly Bank & Trust Company ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

4.0
SmartAsset Average: 3.7

Beverly Bank & Trust Company is a brick-and-mortar bank, with seven total bank locations in Illinois. With mobile and web apps, Beverly Bank & Trust Company makes mobile banking convenient, even on the go. Beverly Bank & Trust Company receives relatively high praise from users for its mobile banking services. With 29 ratings on both iOS and Android platforms, the Beverly Bank & Trust Company mobile app is scored at 4.0 out of 5 (compared to the national average of 3.8). You can access Beverly Bank & Trust Company's app to manage your finances by reviewing account balances, sending and receiving funds as well as reaching support representatives. Beverly Bank & Trust Company gets an exceptional consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

Beverly Bank & Trust Company ranks as a medium-size bank and owns assets totaling $1 billion and deposits totaling $1 billion. Beverly Bank & Trust Company has an excellent Texas Ratio of 1.07%, indicating a negligible likelihood of failure. Additionally, Beverly Bank & Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare Beverly Bank & Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.65% APY
  • 60 Month: 0.90% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Beverly Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Beverly Bank & Trust Company does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Beverly Bank & Trust Company's CD rates are fair compared to the average U.S. bank.

Back to Overview

Find a Beverly Bank & Trust Company Near Me

Beverly Bank & Trust Company has seven locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure