Special 6-Month CD Rate at Cross River Bank in New Jersey

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For those who don’t want to lock into PenFed’s long-term CDs, you’ll have to search hard for short-term CDs with rates above 1%. Once in awhile you may find a good deal at a local bank. That’s the case for Cross River Bank in Teaneck, New Jersey. It’s offering a 6-month CD with a 1.30% APY. Minimum deposit is $50,000. New money is required. This CD is listed in the bank’s CD rates page as of 12/02/2013. Thanks to DA member stormdog123 who posted on this deal in the forum.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.20*%$500k-Cross River BankI Connect Select Tiered Savings
1.00%--Cross River BankRegular Money Market Account
0.25%$500-Cross River Bank6 Month CD
Accounts mentioned in this post. Rates as of August 31, 2016.

The bank also has a good deal on a savings and money market account. The I Connect Select Tiered Savings Account has 1.00% APY on balances from $10K to under $500K. No interest is paid on balances under $10K. The yield goes up to 1.20% for balances of $500K and above. There’s also a money market account with a 1.00% APY. These rates are listed at the bottom of the bank’s home page.

It's a small one-office bank that was just established in 2008. So it appears a branch visit is required to open an account. Cross River Bank's office is located Teaneck, New Jersey which is in the New York City metro area.

The bank has an overall health grade at DepositAccounts.com of B+ with a Texas Ratio of 0% (excellent) based on September 2013 data. Please refer to our financial overview of Cross River Bank for more details. The bank has been a FDIC member since 2008 (FDIC Certificate # 58410).

How These CD and Savings Account Rates Compare

This 6-month CD rate is way above what's available nationwide. The highest 6-month CD rate without a maximum deposit is 1.00 APY at Connexus Credit Union.

The best nationally available money market or savings account rate without a balance cap is 1.15% APY at Connexus Credit Union. However, this has an active checking account requirement. With a checking requirement, the highest yield is 1.00%.

These rates are accurate as of 12/02/2013.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates tables of DepositAccounts.com.

Comments
Anonymous
Anonymous   |     |   Comment #1
I called on Dec 16 and was informed that the 6-month CD (1.30% APY) is no longer offered.
Top CD and Savings Account Rates Continue at Cross River Bank in NJ - Local Only

Cross River Bank continues to offer some competitive CD rates. The best deal is its 18-month CD which has a 1.75% APY. Its 1-year CD rate is also very competitive with a 1.25% APY. Its 3-year and 4-year CD rates have fallen since my July review, but they're still good deals: 2.00% APY for 3 years and 2.25% APY for 4 years. Minimum deposit is $500.

The rates on the bank's savings account, I Connect Select Tiered Savings, has also fallen since my July review, but they remain competitive especially for...

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Top CD and Savings Account Rates at Cross River Bank in NJ - Local Only

Cross River Bank continues to offer some top CD rates. The most competitive one is the 18-month CD which has a 1.75% APY. Some other noteworthy rates include the 3-year CD with a 2.25% APY and the 4-year CD with a 2.50% APY. Minimum deposit is $500.

The bank's savings account, I Connect Select Tiered Savings, also continues to offer very competitive rates. The top rate is 2.00% APY, but this requires a minimum balance of $500,000. Balances from $150,000 to under $500,000 earn 1.50% APY and balances from $50,000...

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Competitive CD and Savings Account Rates at Cross River Bank in New Jersey - Local Only

Cross River Bank is offering several top rates on its savings account and CDs. Its savings account is called "I Connect Select Tiered Savings" and the top rate is 2.00% APY. However, this requires a minimum balance of $500K. The lower tiers are still pretty good: 1.75% APY for $150K minimum and 1.50% APY for $50K minimum. These rates are listed in the bank's savings rates page as of 4/13/2011.

The bank also has some very good mid-term and long-term CD rates. These include a 2.75% APY 4-year CD, a 2.50%...

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