Account (US)
Crescent Bank review: is it trustworthy?
Read this Crescent Bank review and learn about this bank's CDs and Savings accounts, and how it helps you achieve your financial goals.
Advertisement
by Danilo Pereira
Understanding Crescent Bank: Access to high-yield CDs, Savings, and more
If you are looking for a bank that offers products that help you move your finances forward, you might want to check this one out. Here is our Crescent Bank review.
How to join and start banking with Crescent Bank?
Read this Crescent Bank application guide and learn how to easily join this bank to achieve your financial goals.
Crescent Bank keeps fees low while offering APYs which help you make progress towards your financial goals.
If you are looking for a worthwhile place where you can stash your savings, this bank might have just what you have been looking for. Read on and find out!
- Financial products offered: Checking Accounts, Savings Accounts, Certificate of Deposit Accounts.
- Fee: $10 monthly fee for Personal Now and Money Market accounts
- Minimum balance: N/A
How is banking with Crescent Bank?
Although Crescent Bank offers a range of services, most people know this bank for its savings products and auto loans.
And no wonder, their Jumbo Savings Account is especially targeted at individuals with at least $100,000 they want to stash away.
Therefore, this savings account is not a viable option for all savers. Still this account yields a nice and steady 2.2% APY if you manage to keep a daily balance of $100,000.
The bank also offers a Money Market Account, a much more flexible option to their Jumbo Savings Account.
With Crescent Bank you have a tiered APY structure which helps you make the most of your savings while maintaining access to the money.
Within this structure you can make anywhere between 1.7% to 2.2% APY depending on the balance you maintain in your account.
Once you reach the $100,000 mark, your APY will be significantly higher, although there will be a $10 service charge, which could reduce your earnings.
Crescent Bank’s CD account offers the high yield of CDs, along with their usual lack of liquidity, and penalty fee in case you decide to break it open early.
To get the higher rates you are going to need to make a minimum opening deposit of $1,000.
Crescent Bank offers an interest-bearing checking account. However, this account only earns interest on account balances of $1,000 or more.
The $1,000 account balance also gives you the ability to not pay the $10 monthly service charge.
The account comes with a debit card, free withdrawals at Crescent Bank ATMs and check-writing privileges.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Significant benefits and disadvantages you may find
Now that you are familiar with this bank’s features, it is time to compare its pros and cons. Our Crescent Bank review would not be complete without it.
Have a look at the list of benefits and disadvantages we have prepared for you below.
Advertisement
Benefits
- Interest-bearing checking account
- Wide range of products
- Easy to access from your phone or computer
- Allows for waiving the $10 monthly fee
Disadvantages
- Charges a $10 monthly fee
- High minimums
- Tiered interest rates on some accounts
- Some accounts have associated fees
Why should you choose Crescent Bank?
If you like easy online access to your bank account and are on the lookout for a bank that will help you achieve your savings goals, Crescent Bank may have what you need.
How to start banking with Crescent Bank
If you like what you have seen in this Crescent Bank review, you might want to take the next step and open an account.
If that is the case, click the link below and we are going to show you how to do it.
How to join and start banking with Crescent Bank?
Read this Crescent Bank application guide and learn how to easily join this bank to achieve your financial goals.
About the author / Danilo Pereira
Trending Topics
How does tobacco use negatively impacts personal finances?
Learn the full extent of how tobacco negatively impacts your finances and discover ways to help mitigate its damaging effects.
Keep ReadingAmex EveryDay® Credit Card review
Considering the Amex EveryDay® Credit Card? Here's what you need to know about the pros and cons of this no-annual-fee credit card.
Keep ReadingPenFed Pathfinder® Rewards Visa Signature® card application guide
In this PenFed Pathfinder® Rewards Visa Signature® card application guide, you will learn how to get your card with access to travel perks.
Keep ReadingYou may also like
Credit One Bank® Platinum Visa® for Rebuilding Credit Card application
Learn how to apply for the Credit One Bank® Platinum Visa® for Rebuilding Credit Card and get your credit on track today!
Keep ReadingABSA Visa Signature Card online application
Applying for the ABSA Visa Signature Card is easy! Follow these simple steps and you’ll enjoy all the benefits of this card in no time.
Keep ReadingHome Depot® Consumer Credit Card review
Looking for the perfect home improvement credit card? Check out our Home Depot® Consumer Credit Card to learn how it can benefit you.
Keep Reading