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 to under $150,000 earn 1.25% APY.
The above rates are listed in the bank's savings rates page as of 7/7/2011.
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 score at DepositAccounts.com of 5 stars (out of 5) based on March 2011 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
These CD rates compare favorably to the best CD rates that are nationally available. The best nationally available 18-month and 4-year CD rates are 1.55% APY and 2.45% APY at Alliant Credit Union (minimum $25K).
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 section of DepositAccounts.com.