Crescent Bank & Trust is offering several very competitive mid-term and long-term CD rates. My last report of this bank was back in 2010. Its rates haven't changed much while rates of other banks have fallen. That has made its rates very competitive. The best one is a 2.50% APY 5-year CD. Minimum deposit is $1,000. There are also 3 very competitive CD specials with a $5,000 minimum deposit. These include a 2.25% APY 44-month CD, a 2.20% APY 37-month CD and a 2.15% APY 35-month CD. These rates are listed in the bank's rates page as of 5/16/2012.
I couldn't find the CD disclosure online. I called the bank today, and I was told that the early withdrawal penalty is 6 months of interest for terms over 12 months. A branch visit is required, but I was told they do accept out-of-state deposits. So if you can travel to a branch, you should be able to open a CD. Make sure to call the branch before you visit to make sure the bank's policy hasn't changed.
Branches that can process CD applications are located in New Orleans, Metairie, Alexandria, Baton Rouge, Covington, Monroe and Shreveport, Louisiana.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 7.54% (excellent) based on December 2011 data. Please refer to our financial overview of Crescent Bank & Trust for more details. The bank has been a FDIC member since 1991 (FDIC Certificate # 33492).
How These CD Rates Compare
All of these Crescent Bank & Trust CD rates are higher than the best rates of comparable term CDs at nationally available banks and credit unions. The best 3-year and 4-year CD rates are 1.76% APY and 1.96% APY at Melrose Credit Union. The best 5-year CD rate is 2.25% APY at Astera Credit Union. These rates are accurate as of 5/16/2012.
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