Cross River Bank has a new interest rate on their one year certificate of deposit that blows the doors off the competition.  This high yield 12 month term CD surpasses the rates offered by the local competition as well as the best one year CD rates available nationally.

Almost all banks offer certificates, but with a Cross River Bank Certificate, account holders get a rate of return that is far above industry averages.  Cross River Bank’s CD rate promotion has an Annual Percentage Yield (APY) of 1.51%.

The minimum deposit is tad steep at $50,000.00. But the rate on this account is currently over six times the national average rate for a one year bank CD.  The rate is also more than five basis points above the best nationally available one year CD rate.  And all this comes from a local community bank based in Fort Lee, NJ.

Cross River Bank is one of the top 50 largest banks based in NJ.  Along with having its headquarters in Fort Lee, the main bank branch is located in Teaneck, NJ.  Cross River Bank is Member FDIC and an Equal Housing Lender, FDIC deposit insurance is $250,000 per depositor.

For local savers and investors that are looking to invest long term or short term, the bank has a certificate that may just fit your needs.  Certificates of deposits remain a very safe investment.  It’s one of the best ways to earn more money while maintaining control over the funds saved and deposited.  As many consumers have already discovered, CDs are one of the best savings tools available today.  The bank’s other CDs come with many options at competitive rates.

The APY listed is accurate as of 2/21/2017.  The bank may change this promotional APY at any time without prior notice.  Account is available for new money only, which is defined as currently not on deposit at Cross Rive Bank.  Offer is available for a limited time only.  CDs are subject to penalty for early withdrawal.  Additional terms and restrictions may apply.

More information about the bank rates and account terms can be obtained by calling a Cross River Bank customer service representative at (201) 808-7000.  Additional rate information can be found at NJ CD rates.

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