National Penn Bank Rates & Review

National Penn Bank Review

National Penn Bank is a large Pennsylvania bank. One division of this bank specializes in aiding the Amish community.

National Penn Bank is the fourth largest bank holding company headquartered in Pennsylvania. Headquartered in Boyertown, the bank has branch offices located throughout the state. The bank's Hometowne Heritage Bank division specializes in banking for Pennsylvania's Amish community. The bank's products and services can be divided into four life themes: starting out, accumulating, preserving and doing business.

Starting out

Customers starting new endeavors often need financial assistance. For example, a checking account is appropriate for a student going off to college, while a new savings account is common for families with newborn children.

National Penn Bank has both interest-earning and non-interest checking accounts as well as checking for students and groups. Savings account options include statement savings, CDs, IRAs, money market accounts and kids' accounts.

Accumulating

Customers who are interested in accumulating money with National Penn Bank should choose the best savings account rates with the bank. For example, customers can choose a fixed-rate CD, ready access CD or step-up CD for long-term savings.

Additionally, customers can accumulate the real estate and material possessions that they desire by using loans from the bank. Mortgages, auto loans and lines of credit are offered here.

Preserving

It is also important to preserve the quality of life over time. National Penn Bank aids with retirement planning as well as investment management. The bank also provides access to insurance including home, life and long term care insurance.

Doing business

This bank has many different products and services for business customers. In addition to checking and savings, this bank has business credit cards and specialized lending opportunities. Business insurance is available for home-based businesses.

Deposit insurance

National Penn Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

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