Crescent Bank CD Accounts

Crescent Bank CD Accounts Review

Crescent Bank CD Accounts are offered by Crescent Bank, a bank founded in 1991 and based in Metairie, LA. Crescent Bank CD Accounts are available in 42 states (and Washington, DC).

Key Takeaways

• Only one CD type available. Crescent Bank only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.10%, which is much higher than the national average for a CD account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. Crescent Bank allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Crescent Bank CD Accounts

Crescent Bank CD Accounts FAQ

Are CD from Crescent Bank federally insured?

Yes, your Crescent Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #33492). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Crescent Bank offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.

What rates does Crescent Bank offer on its CDs?

Crescent Bank offers an APY starting at 4.50% and ranging up to 5.10%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

What is the minimum deposit to open a CD account with Crescent Bank?

Crescent Bank require a minimum deposit of $1,000 to open an account.

What is the grace period for Crescent Bank?

There is a 10-day grace period for Crescent Bank. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Crescent Bank charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

Crescent Bank charges an early withdrawal fee.