Last Updated: 04/18/2025
1st Bank Trust New Orleans Certificates Deposit
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.25% - 0.75%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $1,000
Certificate Term
- 6 months
- 9 months
- 12 months
- 18 months
- 2 years
- 3 years
- 4 years
- 5 years
1st Bank Trust New Orleans Certificates Deposit Review
1st Bank Trust New Orleans Certificates Deposit are offered by First Bank and Trust of New Orleans, a bank founded in 1991 and based in New Orleans, LA. 1st Bank Trust New Orleans Certificates Deposit are available in 3 states.
Key Takeaways
- Small selection of CD account types. 1st Bank Trust New Orleans Certificates Deposit only offers IRA and traditional CDs.
- Higher than average APY. 1st Bank Trust New Orleans Certificates Deposit has an annual percentage yield of up to 0.75%, which is higher than the national average for 3-month CDs.
- $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
- Wide selection of CD terms. 1st Bank Trust New Orleans Certificates Deposit 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 1st Bank Trust New Orleans Certificates Deposit
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1st Bank Trust New Orleans Certificates Deposit FAQ
Are CD from First Bank and Trust of New Orleans federally insured?
Yes, your First Bank and Trust of New Orleans CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 First Bank and Trust of New Orleans offer?
1st Bank Trust New Orleans Certificates Deposit provides the following types of CDs.- 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.
- IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but 1st Bank Trust New Orleans Certificates Deposit offers a CD that is specifically for retirement.
What rates does First Bank and Trust of New Orleans offer on its CDs?
1st Bank Trust New Orleans Certificates Deposit offers an APY starting at 0.25% and ranging up to 0.75%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.
What terms does 1st Bank Trust New Orleans Certificates Deposit offer?
First Bank and Trust of New Orleans offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
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| 12-Month APY | 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.25% - 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 0.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 0.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 0.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with First Bank and Trust of New Orleans?
1st Bank Trust New Orleans Certificates Deposit require a minimum deposit of $1,000 to open an account.
What is the grace period for 1st Bank Trust New Orleans Certificates Deposit?
1st Bank Trust New Orleans Certificates Deposit does not specify what their grace period is. 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 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 First Bank and Trust of New Orleans 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.
First Bank and Trust of New Orleans charges an early withdrawal fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Transfer Fee | $2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
Closed