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Compare Crescent Bank Accounts
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Editor's Rating
3/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed starEditor's Rating
2.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed starEditor's Rating
4/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star4.20% to 5.15%
Editor's Rating
2.75/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star1.70% to 2.20%
The bottom line: Crescent Bank is a good option if you're looking for online CDs. However, you'll have to visit a branch in the greater New Orleans area to open a checking, savings, or money market account.
Crescent Bank Overall Rating
Crescent Bank Pros and Cons
Crescent Bank Personal Statement Savings Review
Crescent Bank Personal Statement Savings
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees
no monthly service fee
Annual Percentage Yield (APY)
1.70%
Minimum Deposit Amount
$100
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No excessive transaction fees
- con icon Two crossed lines that form an 'X'. Must open an account at a branch
- con icon Two crossed lines that form an 'X'. Interest compounds quarterly, not daily or monthly
- con icon Two crossed lines that form an 'X'. $100 minimum opening deposit
- con icon Two crossed lines that form an 'X'. No interest earned for the month if your balance falls under $100
- You must open this account in a Crescent Bank branch
- 3 branches in Louisiana (New Orleans, Mandeville, and Metairie)
- When you keep at least $100 in your account, you’ll earn interest for the month
- Interest compounded and paid quarterly
- Many banks charge an excessive transaction fee if you go over 6 withdrawals per month from savings; Crescent Bank does not charge this fee
- Member FDIC
The Crescent Bank Personal Statement Savings account has no monthly service fee, including statement, minimum balance, dormancy, or excessive transaction fees. There's a minimum opening deposit of $100, and you'll earn 1.70% APY (Annual Percentage Yield) on balances above that amount. The interest compounds quarterly.
Crescent Bank also offers a Jumbo Savings account that pays a higher rate and compounds interest monthly. However, there's a $100,000 minimum to open an account, and you'll earn the Personal Statement Savings APY if your balance dips below that amount. Most savers should be able to find a better (and more flexible) deal: The best high-yield savings accounts right now are paying more than 5.00% APY with lower minimum balances.
You'll have to visit a branch to open either type of Crescent savings account.
Compare Today's Savings Rates
Crescent Bank Personal NOW Account
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees
up to $10 monthly service fee
Annual Percentage Yield (APY)
1.40%
Minimum Deposit Amount
$1,000
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn interest on your checking balance
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited check-writing privileges
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
- con icon Two crossed lines that form an 'X'. Must open an account at a branch
- con icon Two crossed lines that form an 'X'. $1,000 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $10 monthly service fee (unless you qualify to waive it)
- con icon Two crossed lines that form an 'X'. No interest earned if you balance falls under $1,000
- con icon Two crossed lines that form an 'X'. Interest compounded monthly, not daily
- con icon Two crossed lines that form an 'X'. $1.25 out-of-network ATM fee
- con icon Two crossed lines that form an 'X'. Doesn’t reimburse any fees charged by out-of-network ATM providers
- con icon Two crossed lines that form an 'X'. No overdraft protection; if a transaction would overdraw the account, Crescent denies the transaction
- You must open this account in a Crescent Bank branch
- 3 branches in Louisiana (New Orleans, Mandeville, and Metairie); ATMs are only at New Orleans and Metairie locations
- When you keep at least $1,000 in your account, you’ll earn interest for the month and waive the monthly service fee
- Interest compounded and paid monthly
- Member FDIC
The Crescent Bank Personal NOW Account offers a 1.40% APY on balances of $1,000 and above, and the interest compounds monthly.
There's a $1,000 minimum to open an account, and you can avoid paying the service fee (and earn interest) by keeping your balance above that threshold.
Crescent Bank also offers a standard personal checking account with a lower opening deposit and lower monthly fees. You won't earn interest, though.
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Crescent Bank CD
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)
4.20% to 5.15%
Minimum Deposit Amount
$1,000
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rate
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard CD terms
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard early withdrawal penalties
- con icon Two crossed lines that form an 'X'. $1,000 minimum opening deposit
- 3 branches in Louisiana
- Terms range from 12 months to 5 years
- Early withdrawal penalties: 90 days interest for a 1-year CD term; 180 days interest for all other CD terms
- Interest compounded and deposited monthly
- Member FDIC
CDs are the bank's strongest products. Crescent Bank CD rates are high overall, but especially on its 12-month term, which pays 5.15% APY. For all CDs, the minimum deposit is $1,000, and the funds must originate from a financial institution other than Crescent Bank. Unlike other Crescent accounts, you can open CDs online. Still, you'll find the best CD rates at other online banks.
Crescent Bank Money Market Account Review
Crescent Bank Money Market Account
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees
$10 monthly service fee
Annual Percentage Yield (APY)
1.70% to 2.20%
Minimum Deposit Amount
$1,000
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Check-writing capabilities
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Includes ATM card
- con icon Two crossed lines that form an 'X'. Must open an account at a branch
- con icon Two crossed lines that form an 'X'. $1,000 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $10 monthly service fee unless you qualify to waive it
- con icon Two crossed lines that form an 'X'. No interest earned for the month if your balance falls under $1,000
- con icon Two crossed lines that form an 'X'. Interest compounds monthly, not daily
- con icon Two crossed lines that form an 'X'. $1.25 out-of-network ATM fee
- con icon Two crossed lines that form an 'X'. Doesn’t reimburse any fees charged by out-of-network ATM providers
- You must open this account in a Crescent Bank branch
- 3 branches in Louisiana (New Orleans, Mandeville, and Metairie); ATMs are only at New Orleans and Metairie locations
- When you keep at least $1,000 in your account, you’ll earn interest for the month and waive the monthly service fee
- Interest compounded and paid monthly
- Member FDIC
The Crescent Bank Money Market Account offers check-writing capabilities, unlimited deposits, and ATM cash withdrawals (unlike some other money market accounts, this one doesn't come with a debit card).
There's a minimum opening deposit of $1,000 and a $10 monthly service fee each month your balance falls under that amount. You'll earn a higher rate on balances of $100,000 or higher, and interest compounds monthly. The best money market accounts right now pay much higher rates with lower minimum deposits.
Like Crescent Bank's checking and savings accounts, you'll have to visit a branch to open a money market account.
About Crescent Bank
Crescent Bank is a New Orleans-based community bank that was established in 1991 as City Bank & Trust, eventually rebranding to its current name in 2022 — the name was chosen to pay homage to one of New Orleans' nicknames, the "Crescent City." Crescent Bank has three branches, with ATMs at two branches (there's no ATM at the Mandeville location).
The bank is best known for offering auto loans, especially to borrowers with low credit scores. It also provides local banking services to the greater New Orleans area and online CDs to consumers nationwide.
Live phone support is available Monday through Friday from 8 a.m. to 4 p.m. CT. A separate after-hours phone number is listed on the Crescent Bank website for nights and weekends.
Unlike many banks, Crescent Bank doesn't offer a mobile app (the best mobile banking apps have user-friendly interfaces that make managing your account easy). Still, the bank provides 24/7 online access to your account. Crescent Bank is an FDIC-member bank, so deposits are insured up to $250,000 per depositor, per account ownership type.
Is Crescent Bank Trustworthy?
Crescent Bank is accredited by the Better Business Bureau with an A+ rating. A strong BBB grade indicates a company responds effectively to customer complaints, maintains transparent business practices, and makes truthful advertising claims. However, remember that BBB ratings don't guarantee a company's reliability or performance.
According to the Identity Theft Resource Center, Crescent Bank has had no data breaches within the last five years.
The Consumer Financial Protection Bureau (CFPB) has received only one complaint about Crescent in the past year. However, the CFPB has received thousands of complaints about Crescent Bank's parent company, CB&T Holding Corp. Most complaints fall under two categories: improper use of a credit report and incorrect information on a credit report.
Crescent Bank FAQs
Yes, Crescent Bank is a legitimate bank serving the greater New Orleans community and online CD customers nationwide. The bank offers auto loans and personal and business checking, savings, CD, and money market accounts.
Yes, Crescent Bank is an FDIC-member bank, so deposits are protected up to $250,000 per depositor, per account ownership type.
Crescent Bank offers online CDs with rates ranging from 4.20% to 5.15% APY. These are the bank's most competitive rates, and CDs are the only Crescent accounts you can open online.
Methodology
We rated Crescent Bank's accounts and services using Personal Finance Insider's bank account methodology. We generally look at customer support, mobile apps, ethics, and other factors depending on the type of account we're reviewing. For example, we consider minimum deposits and monthly fees for checking accounts, and early withdrawal penalties and interest rates for CDs.
How Crescent Bank Compares
Because CDs are Crescent Bank's strongest products — and the only accounts they offer online — we've compared the bank to two other online banks with strong CDs.
Crescent Bank vs. CFG Bank
CFG Bank is a community bank serving local communities in Baltimore and Annapolis, Maryland. Like many community banks, it offers online CDs to customers nationwide. CFG Bank currently pays 4.05% to 5.25% APY on CDs.
Compared to Crescent Bank, CFG Bank has fewer term options, with 12-, 18-, 36-, and 60-month terms. Still, you can open a CD with $500 — half of Crescent Bank's minimum requirement.
Both Crescent Bank and CFG Bank are FDIC-member banks, so deposits are insured up to $250,000 per depositor, per account ownership type.
Crescent Bank vs. BrioDirect
BrioDirect is an online subsidiary of FDIC-member Webster Bank, a regional bank with branches throughout Connecticut, Massachusetts, Rhode Island, and the New York Metro area.
BrioDirect offers an extensive lineup of CD maturities ranging from one to 60 months, but the sweet spot is its 12-month CD, which currently pays 5.35% APY. The bank offers other CD terms, but the rates are poor compared with many online banks, Crescent Bank included.
Jean Folger
Jean Folger has 15+ years of experience as a financial writer covering real estate, investing, active trading, retirement planning, and retiring abroad. She is co-founder of PowerZone Trading, a company that has provided programming, consulting, and strategy development services to active traders and investors since 2004. Previously, Jean was a real estate broker, an English teacher, and a trip leader for an adventure travel company. Read more Read lessEvelyn He
Compliance Associate
Evelyn He is a compliance associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries. Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
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