1st Bank Trust New Orleans Certificates Deposit

1st Bank Trust New Orleans Certificates Deposit Review

1st Bank Trust New Orleans Certificates Deposit is offered by First Bank and Trust of New Orleans, founded in 1991 and based in New Orleans, LA. 1st Bank Trust New Orleans Certificates Deposit is available in 3 states across the USA.

• Small selection of CD account types. 1st Bank Trust New Orleans Certificates Deposit only offers traditional and CDs.
• Very high 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.

Are cd accounts from First Bank and Trust of New Orleans federally insured?

No, your First Bank and Trust of New Orleans cd accounts are not insured by a federal insurance agency. This means that if First Bank and Trust of New Orleans were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What types of CDs does First Bank and Trust of New Orleans offer?

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

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 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.