Cross River Bank CDs Can Be Opened By Email/Phone


UPDATE: 4/9/2020 - CDs are now only available to residents of Connecticut, New Jersey, and New York.

Deal Summary: 24-month CD, 2.10% APY, $500 minimum balance.

Availability: CDs can now be opened through a combination of email, fax, and phone calls.

A long-time DA reader emailed me with some good news about opening a CD at New Jersey-based Cross River Bank.

Now, due to Coronavirus, you can open an account and CD by email and bank transfer.

More details about the application process are in the “Availability” section below.

Cross River currently has one competitive CD in its product line: the 24-month CD, earning 2.10% APY. The minimum opening deposit is $500, with no stated balance cap.

I last wrote about Cross River CDs in July 2018, following substantial across-the-board rate increases. At that time, the 24-month CD earned 2.94% APY, but the real star of the product line was the 48-month CD, which earned 3.56% APY. As recently as four weeks ago, all of Cross River’s CDs had competitive APYs. Rates dropped last week, with the 24-month CD losing only 15 bps, while the rest of the CDs experienced substantial drops between 90 and 114 bps.

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

Thanks again to the DA reader who let me know about Cross River’s new policy for opening a CD.


Headquartered in Teaneck, New Jersey, Cross River Bank has historically offered a portion of its product line through its online application to the residents of Connecticut, New Jersey, and New York, but opening a CD had to be done in-branch. There were no residency restrictions associated with CDs: anyone who came into the Teaneck branch could open a CD.

The current COVID-19 situation has changed how CDs can be opened.

In light of the recent developments regarding the Coronavirus (COVID-19) and on the advice of local authorities, the Cross River branch located at 885 Teaneck Rd, Teaneck, New Jersey has been temporarily relocated until further notice to:

400 Kelby Street (Parker Plaza building)
14th Floor
Fort Lee, New Jersey 07024

While this temporary branch location will be open Monday through Friday, only deposit and withdrawal transactions will be processed. Opening a new account can be done by calling the Customer Service Team at 1-877-55CRB55 between 9 am and 3 pm, Monday through Friday.

Bank Overview

Cross River Bank has an overall health grade of "A+" at, with a Texas Ratio of 2.51% (excellent) based on December 31, 2019 data. In the past year, Cross River Bank has increased its total non-brokered deposits by $246.94 million, an excellent annual growth rate of 21.57%. 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 14th largest bank, with assets in excess of $2 billion.

Born in the aftermath of the 2008 financial crisis, Cross River was built with the goal of providing access to credit to consumers in need. Since then, it has evolved into a national technology leader, providing innovative fintech solutions across the country. Cross River has received outstanding recognition for its leading technology, community commitment, innovations in financial services and unmatched workplace culture.

How the CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar deposit and are available nationwide, Cross River Bank’s 24-month CD APY currently ranks first.*

The above rates are accurate as of 4/4/2020.

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

*We are continually working to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at may not reflect the latest rates published by the banks and credit unions.

Related Pages: New York CD rates, 5-year CD rates, nationwide deals


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.

Continue Reading
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

More Past Offers

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.