Crescent Bank is offering a 12-month online CD paying 4.90% APY for a limited time.  Here's how to qualify.

Crescent Bank is offering a 12-month online CD paying 4.90% APY for a limited time. Here’s how to qualify.

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  • From November 30 to December 1, 2022, you can open a 12-month Crescent Bank online CD and earn 4.90% APY.
  • To open a CD online at Crescent Bank, you will need to deposit $1,000 or more in new money.
  • By comparison, the average 12-month CD pays 0.90% APY, according to the FDIC.

Crescent Bank is currently offering the highest paying one-year CD through a promotional offer available from November 30 to December 1, 2022. You will be eligible to earn an annual percentage rate of return (APY) of 4.90% for 12 months. if you open a CD during these days.

You can open a Crescent Bank CD online from anywhere in the United States as long as you are a US citizen and 18 years of age or older. When completing the online application, you will need a Social Security number, US ID, and your bank account information for an ACH transfer.

To open the 12-month Crescent Bank CD with the promotional rate, you will need to deposit at least $1,000 in fresh money on a CD. New money means funds that have not yet been deposited into a Crescent Bank account.

You will also need to keep money in the account throughout the term. If you withdraw money from a CD before the end of a term, you may have to pay an early withdrawal penalty. At Crescent Bank, the early withdrawal penalty for a 12 month online CD is 90 days interest.

Learn more about CD Crescent Bank

You might like a Crescent Bank CD if you’re looking for a competitive interest rate on online CD terms of one to six years. Crescent Bank offers a higher interest rate on its CDs than most physical and online banks.

Minimum opening deposit and early withdrawal penalties for most CD terms are comparable to other financial institutions. However, if you want a CD with simpler requirements, there are online banks that allow you to open a CD with $0 or offer CDs with no penalty.

How Crescent Bank Works

Crescent Bank is a financial institution with branches in New Orleans, Metairie and Mandeville, Louisiana. You can also open CDs online nationwide.

Crescent Bank may not be the best choice if you use mobile banking frequently. It does not have a mobile app on Google Play Store or Apple Store.

Banking customer service is available by phone from 8:00 a.m. to 4:00 p.m. CT Monday through Friday.

Your deposits are FDIC insured up to $250,000 per depositor in a bank account.

The best 12-month CD rates

The average 12-month CD in November 2022 pays 0.90% APY, according to the FDIC. However, there are online banks that offer much higher interest rates on CDs. We compared Crescent Bank to two other financial institutions featured in our best 1-year CD guide: CFG Bank and Bread Savings.

Compare Certificate of Deposit Rates

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Editor’s note

4/5

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Editor’s note

4/5

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A five pointed star

A five pointed star

A five pointed star

Editor’s note

3.75/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

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CD CFG Bank vs. CD Crescent Bank

With its promotional rate, you will earn a higher interest rate on a 12-month Crescent Bank CD than on a 12-month CFG Bank CD.

If you are looking for a financial institution that offers lower minimum opening deposits on CDs, you can always consider CFG Bank. The minimum opening deposit for a CFG Bank Certificate of Deposit is just $500.

Savings CDs on Bread vs. Crescent Bank CDs

While Bread Savings High Yield CD pays 4.50% APY on a 12 month CD, you will earn 4.90% APY with a 12 month Crescent Bank if you get a CD during the promotional rate offer.

Bread Savings also has a higher minimum opening deposit for its CD than Crescent Bank. You might still love Bread Savings if you’re an avid mobile app user. Bread Savings has a mobile app in the Google Play and Apple stores.

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