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  First Bank and Trust of New Orleans Certificates of Deposit

First Bank and Trust of New Orleans Certificates of Deposit

in CD Accounts from First Bank and Trust of New Orleans · Member fdic

Unaffiliated

First Bank and Trust of New Orleans Certificates of Deposit

Unaffiliated

in CD Accounts from First Bank and Trust of New Orleans · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $1,000
Deposit Term
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 9 months
APY (Annual Percentage Yield) 0.25% - 0.75%

First Bank and Trust of New Orleans Certificates of Deposit Review

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

Key Takeaways
  • Small selection of CD account types. First Bank and Trust of New Orleans Certificates of Deposit only offers traditional and IRA 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, but there are accounts that require a smaller initial deposit.
  • Wide selection of CD terms. First Bank and Trust of New Orleans Certificates of Deposit allows you to create a CD ladder by spreading your cash across certificates of deposit with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of First Bank and Trust of New Orleans Certificates of Deposit
Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • Only available in 3 states.
  • There isn't a no-penalty CD option.
First Bank and Trust of New Orleans Certificates of Deposit FAQ

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

Yes, your First Bank and Trust of New Orleans cd accounts 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?

First Bank and Trust of New Orleans Certificates of Deposit provides the following types of CDs.
  • 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.
  • 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 First Bank and Trust of New Orleans Certificates of Deposit offers a CD that is specifically for retirement.

What CD rates does First Bank and Trust of New Orleans offer on its CDs?

First Bank and Trust of New Orleans Certificates of 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 First Bank and Trust of New Orleans Certificates of Deposit offer?

First Bank and Trust of New Orleans offers CD terms of the following lengths:
First Bank and Trust of New Orleans Certificates of Deposit Rates & Terms
Description
2-Year APY 0.5%
3-Year APY 0.6%
4-Year APY 0.65%
5-Year APY 0.75%
6-Month APY 0.25%
12-Month APY 0.45%
APY (Annual Percentage Yield) 0.25% - 0.75%

What is the minimum deposit to open a CD account with First Bank and Trust of New Orleans?

First Bank and Trust of New Orleans Certificates of Deposit requires a minimum deposit of $1,000 to open an account.

What is the grace period for First Bank and Trust of New Orleans Certificates of 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 Certificates of 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.

First Bank and Trust of New Orleans Certificates of 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
2-Year APY 0.5%
3-Year APY 0.6%
4-Year APY 0.65%
5-Year APY 0.75%
6-Month APY 0.25%
12-Month APY 0.45%
APY (Annual Percentage Yield) 0.25% - 0.75%
CD Accounts
  • Traditional
  • IRA
Deposit Term
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 9 months

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