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  1st Bank Trust New Orleans Certificates Deposit
1st Bank Trust New Orleans Certificates Deposit
in CD Accounts from First Bank and Trust of New Orleans · Member FDIC
Unaffiliated

1st Bank Trust New Orleans Certificates Deposit

Unaffiliated
in CD Accounts from First Bank and Trust of New Orleans · Member FDIC
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Highlights
APY (Annual Percentage Yield) 0.25% - 0.75%
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 across the USA.

Key Takeaways

  • Small selection of CD account types. 1st Bank Trust New Orleans Certificates Deposit only offers IRA and traditional CDs.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.75%, 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. 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

Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • High-interest yield.
  • Only available in 3 states.
  • There isn't a no-penalty CD option.

1st Bank Trust New Orleans Certificates Deposit FAQ

Are CDs 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 CD 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 CD 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:
1st Bank Trust New Orleans Certificates Deposit Rates & Terms
Description
APY (Annual Percentage Yield) 0.25% - 0.75%
6-Month APY 0.25%
12-Month APY 0.45%
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 requires 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 1st Bank Trust New Orleans Certificates Deposit 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 CD term ends.

First Bank and Trust of New Orleans does not charge an early withdrawal fee.

1st Bank Trust New Orleans Certificates Deposit Fees
Description
Transfer Fee $2
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Availability

  Available in 3 states
  • Florida
  • Louisiana
  • Mississippi

Feature Breakdown

Transfer Fee $2
Minimum Opening Deposit Starting at $1,000
APY (Annual Percentage Yield) 0.25% - 0.75%
6-Month APY 0.25%
12-Month APY 0.45%
2-Year APY 0.5%
3-Year APY 0.6%
4-Year APY 0.65%
5-Year APY 0.75%
Certificate Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
CD Accounts
  • Traditional
  • IRA

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