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The minimum opening deposit for a Crescent Bank Online CD is $1,000.
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From November 30 to December 1, 2022, you can open a 12-month Crescent Bank Online CD and earn 4.90% APY.
To open an online CD at Crescent Bank, you’ll need to deposit $1,000 or more in new money.
In comparison, the average 12-month CD pays 0.90% APY, according to the FDIC.
Crescent Bank is offering the highest-paying 1-year CD right now through a promotional offer available from November 30 to December 1, 2022. You’ll be able to lock in a rate of 4.90% annual percentage yield (APY) for 12 months if you open a CD during these days.
You may open an online Crescent Bank CD from anywhere in the US as long as you’re a US citizen and age 18 or older. When you’re filling out the online application, you’ll need a social security number, a US ID, and your bank account information for an ACH transfer.
To open the 12-month Crescent Bank CD with the promotional rate, you’ll need to deposit at least Crescent Bank CD in new money into a CD. New money means funds that haven’t already been deposited into a Crescent Bank account.
You’ll also need to maintain money in the account for the full term. If you withdraw money from a CD before the end of a term, you might have to pay an early withdrawal penalty. At Crescent Bank, the early withdrawal penalty for a 12-month online CD is 90 days of interest.
More about the Crescent Bank CD
You might like a Crescent Bank CD if you’re searching for a competitive interest rate on online CD terms from one to six years. Crescent Bank offers a higher interest rate on its CDs than most brick-and-mortar and online banks.
The minimum opening deposit and early withdrawal penalties for most CD terms are on par with other financial institutions. However, if you would like a CD with easier requirements, there are online banks that let you open a CD with $0 or offer no-penalty CDs.
How Crescent Bank works
Crescent Bank is a financial institution with branches in New Orleans, Metairie, and Mandeville, Louisiana. You can also open online CDs nationwide.
Crescent Bank may not be the best choice if you frequently use mobile banking. It doesn’t have a mobile app on the Google Play store or Apple store.
Banking customer service is available by phone from 8 a.m. to 4 p.m. CT Monday through Friday.
Your deposits are FDIC insured for up to $250,000 per depositor in a bank account.
The best 12-month CD rates
The average 12-month CD in November 2022 pays 0.90% APY, according to the FDIC. However, there are online banks that offer much higher interest rates on CDs. We’ve compared Crescent Bank to two other financial institutions featured in our best 1-year CD guide: CFG Bank and Bread Savings.
CFG Bank CDs vs. Crescent Bank CDs
With its promotional rate, you’ll earn a higher interest rate on a 12-month Crescent Bank CD than a CFG Bank 12-month CD.
If you’re looking for a financial institution that offers lower minimum opening deposits on CDs, you might still consider CFG Bank. The minimum opening deposit for a CFG Bank Certificate of Deposit is only CFG Bank Certificate of Deposit.
Bread Savings CDs vs. Crescent Bank CDs
While Bread Savings High-Yield CD pays 4.50% APY on a 12-month CD, you’ll earn 4.90% APY with a 12-month Crescent Bank if you get a CD during the promotional rate offer.
Bread Savings also has a higher minimum opening deposit for its CD than Crescent Bank. You still might like Bread Savings if you’re an avid mobile app user. Bread Savings has a mobile app in the Google Play and Apple stores.