Cross River Bank CD Rates Shoot Upward


Deal Summary: CDs – 12-month (2.63% APY), 18-month (2.79% APY), 24-month (2.94% APY), 36-month (3.25% APY), 48-month (3.56% APY), $500 minimum balance.

Availability: In-branch only, but anyone who can come into the Teaneck, NJ branch is eligible to open a CD.

New Jersey-based Cross River Bank has substantially raised the rates on most of its CDs, adding between 76 and 89 bps. Any of Cross River Bank’s CDs can be opened with a $500 minimum deposit, and there is no stated balance cap.

2.45%$500-Cross River Bank48 Month CD
2.40%$500-Cross River Bank36 Month CD
2.25%$500-Cross River Bank24 Month CD
2.20%$500-Cross River Bank18 Month CD
2.15%$500-Cross River Bank12 Month CD
Rates as of January 17, 2020.

According to CSR, the Early Withdrawal Penalty for CDs with terms of 12 months or less is 91 days, and 182 days for terms greater than 12 months.

In the past year, there have been four rate increases for each of these five CDs, with the yield curve also improving.

Cross River Bank CD comparison chart

Thanks to DA reader, SYC, for the Forum post about Cross River Bank’s newest CD rates.

I/E Money Market Accounts

Since I last wrote about Cross River Bank’s I (in-branch) and E (online) Money Market accounts in May 2017, the APY has continued to increase, with 56 bps being added in the past 14 months. Residents of New Jersey, New York, and Connecticut can open the E Money Market using the Bank’s online application.

1.82%--Cross River BankMoney Market Account
1.82%--Cross River BankE Money Market Account
Rates as of January 17, 2020.


Headquartered in Teaneck, New Jersey, Cross River Bank offers a portion of its product line through its online application to U.S. residents, 18-years or older, who live in Connecticut, New Jersey, or New York, but CDs are not available online.

Opening a CD can only be done in-branch at the single New Jersey branch located on Teaneck Road in Teaneck.

According to CSR, there are no residency restrictions associated with CDs: anyone who can come into the Teaneck branch can open a CD.

Bank Overview

Cross River Bank has an overall health grade of "A+" at, with a Texas ratio of 0.39% (excellent) based on March 31, 2018 data. In the past year, Cross River Bank has increased its total non-brokered deposits by $488.15 million, an excellent annual growth rate of 96.68%. Please refer to our financial overview of Cross River Bank (FDIC Certificate # 58410) for more details.

Established in 2008 by French-born entrepreneur and finance industry veteran Gilles Gade, Cross River Bank is currently New Jersey’s 23rd largest bank, with assets in excess of $1.1 billion. In a December 2017 press release Cross River Bank announced,

a partnership with Mastercard (NYSE: MA) to launch its new Mastercard Cash Pick-Up service. Cash Pick-Up allows banks and their disburser partners to deliver cash quickly, securely and easily to any vetted consumer – banked or unbanked – through enabled ATMs, without the use of a card.

In November 2016, Cross River Bank announced completion of a $28 million growth-equity investment spearheaded by Silicon Valley’s Battery Ventures, along with assistance from Andreessen Horowitz and Ribbit Capital.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by that require a similar deposit and are available within the Bank’s market area, all of Cross River Bank’s CD APYs currently rank first.

The above rates are accurate as of 7/19/2018.

To search for the best CD rates, either nationally available or state-specific, please refer to our CD Rates Table page.

Related Pages: New York money market accounts, money market accounts, 1-year CD rates, 5-year CD rates

Robb   |     |   Comment #1
Decent 48 month deal here given the 6 month EWP and it sounds like anyone can participate if they can get to the NJ branch. Might consider this one after doing some research.
Luvcd   |     |   Comment #7
Have plane reservations will travel
Cdfan   |     |   Comment #2
I opened 4yr cd without a problem at the branch. Only customer there. I also opened savings acct for my son at 1.92% apy.
anonymous   |     |   Comment #3
Cdfan -- (if you know) What are the options for getting your money when the CD matures? Also, can beneficiaries be designated on a CD?
Cdfan   |     |   Comment #11
Beneficiaries may be desginated. Do not know options for getting money at maturity.
deplorable 1
deplorable 1   |     |   Comment #4
3.46% on a 4 year CD is pretty good. Nice to see rates pushing higher.
alan1   |     |   Comment #5
And the 3.56% being offered by Cross River is even better.
Edward   |     |   Comment #8
And 4% from Sharonview is so far the best. I don't need to visit their branch or make flight reservation either. Haha!
zz   |     |   Comment #9
I could only find a 3% rate for a 7 year CD at Sharonview:
alan1   |     |   Comment #10
zz -- Sharonview's 64-month, 4.00% APY special expired in March. As I remember it, the special was available for perhaps a couple of weeks.
Nj bob
Nj bob   |     |   Comment #12
I got one of those too however that was short lived and no where close to that 4% now. Wish I could get another one
hank   |     |   Comment #6
I had started to open a veridian 41 month bump up cd at 3.1% but I halted that just before it was final. Now I intend to open this one. It is only 7 months more and the rate is nearly half a percent higher.
Nj bob
Nj bob   |     |   Comment #13
I am heading there Monday morning to open one at this rate. For some reason NJ banks are way behind other states with good rates. This is by far the best avail in nj now.
hank   |     |   Comment #14
this is the best anywhere actually. Where can you find a better rate for 4 years
Anonymous   |     |   Comment #15
Wait til next interest rate increase and you will see
hank   |     |   Comment #17
Bob, any issues with opening the cd?
dfs   |     |   Comment #19
I'm not Bob but I had no issues yesterday when I opened up a 4 year CD.
highrate   |     |   Comment #16
I am planning on opening this next week. Even if there's another quarter point fed increase I'm not sure it will bump rates higher than this. I understand from reading other people;s posts that they do accept cds with pods.
dfs   |     |   Comment #18
Drove up there yesterday and opened up 4 year CD with no problem. I was told they will open up any CD from anyone as long as you get to the Teaneck, NJ branch in person.
highrate   |     |   Comment #20
I went and opened a cd last week. They were very busy. The place was filled with people opening the cd. I had no problems
Hyman Roth
Hyman Roth   |     |   Comment #21
Sounds fishy. Only one branch? In Jersey?
highrate   |     |   Comment #22
they told me they are going to start advertising these rates next week. They expect the rates to be offered until the end of September
Legs Diamond
Legs Diamond   |     |   Comment #23
The Fed should tightening again in September and December. By January of 2019 rates will even be higher. By January of 2020 rates will be much high.
Big Words
Big Words   |     |   Comment #24
Whoa! How do you fancy that?

Talk about going against the herd! Fascinating!
dave9354   |     |   Comment #25
Ken, you do not have to come into a branch to open a CD. I opened a savings account online and ACH the funds to the savings account. I then called the bank and they opened the CD over the phone. You will need to call the bank and have them email the forms to sign. My CD is open and online.
hank   |     |   Comment #26
this is still a very good deal. I am thinking of opening another one
alanbones   |     |   Comment #27
It's almost scary how much money i've entrusted with this bank but they are FDIC insured and it sort of feels great to get the BEST rates anywhere. I'm going on another premise that the "big boys" just want to profit more with lower rates as 95% of the country probably trusts their bankers, don't want to do their own research or whatever.
gregk   |     |   Comment #28
In hindsight I'd feel less great than you do about it. While a nice rate at the time (July 2018), had you held funds in reserve you might have soon done considerably better, as by year end numerous FI's offered (or had offered) higher rates than Cross River, - including 4.00%APY from Connexus CU. Yes, you can feel "good" about your 3.56% Certificates (especially now), - but (in context) describing this offer as "the BEST rate anywhere" seems a bit inaccurate. It wasn't the peak (two other instances of subsequently even higher rates being Inova FCU's & United States Senate FCU's 60 month offers of 3.80%APY and 3.69%APY respectively).
Cross River Bank (NJ/NY/CT) Hikes Rate On Money Market Account
Deal Summary: I and E Money Market, 1.26% APY, no minimum balance.

Availability: Online application available for residents of New Jersey, New York, and Connecticut.

Earlier this month, New Jersey-based Cross River Bank, raised the rate on its I (in-branch) and E (online) Money Market accounts (1.26% APY). There is no minimum opening deposit or balance requirement to earn the stated APY, and no stated balance cap.

While there is no rate guarantee on the I/E Money Market accounts, it’s somewhat reassuring that the previous...

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

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.

Continue Reading
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...

Continue Reading
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...

Continue Reading
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%...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.