Cross River Bank Review 2025
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At a glance
Overview
Cross River Bank is best for savers seeking competitive interest rates and low minimum deposits. But it has just one branch — in New Jersey — and is probably best suited for those living near its Teaneck location.
Highlights:
High APY Low Min BalanceHighlights:
CDs
Checking
Savings
MMA
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Cross River Bank offers checking, money market and savings accounts as well as CDs. Consumers may find that just having one physical branch is a deal breaker, but those near the New Jersey area looking for great rates on deposit products may find it’s a good fit.
Pros
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The checking account earns some interest.
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There are no monthly service fees.
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There are no minimum balances, except a low $500 minimum to open a CD.
Cons
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There is just one branch, and it's only open weekdays.
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Customer service hours are limited.
Cross River Bank banking products
Cross River Bank savings overview
Pros
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There are no monthly fees or a minimum opening deposit.
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Both savings accounts earn APYs above the national average.
Cons
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You’ll need a minimum balance of $1 million to earn the top APY with the I Connect/E Connect Tiered Savings account.
Rate history for Cross River Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Cross River Bank CD overview
Pros
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The CDs earn competitive yields.
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The $500 minimum balance is reasonable.
Cons
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Shoppers looking for terms five years or longer will have to look elsewhere.
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Although rates are well above the national average, better rates can be found at other banks.
Rate history for Cross River Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Cross River Bank money market overview
Pros
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There are no monthly service fees or minimum balance requirements.
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There is no minimum balance to obtain the APY.
Cons
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Cross River’s savings account pays a much higher APY.
Cross River Bank checking overview
Pros
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The checking account earns interest.
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Even though it’s an interest-bearing account, there are no monthly fees.
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There’s no minimum balance to open an account.
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Cross River refunds up to $6 for out-of-network ATM surcharges per month.
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A mobile banking app is available to customers.
Cons
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You can find checking accounts with higher APYs elsewhere.
Bank fees
| Fee | Charges |
|---|---|
| Overdraft fee | $0 |
| Nonsufficient funds fee | $0 |
| Monthly maintenance fee | $0 |
| Out-of-network ATM fee | $0 |
| Excessive transaction fee | $0 |
Customer experience
Customer service: Cross River Bank only offers phone support on weekdays.
Branch availability: Cross River Bank has just one branch, meaning customers will do most of their banking online or over the phone.
Mobile banking app: Customers have access to a mobile app that allows you to see account activity, transfer money between accounts and set up alerts.
We want to know what you think about Cross River Bank
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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