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Cross River Bank Review

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Cross River Bank Savings
1.92% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Cross River Bank started in 2008 with its headquarters in Teaneck, New Jersey. It has $1 billion in assets and $1 billion in deposits, making it a medium-size bank. Cross River Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4.2 stars out of 5, Cross River Bank should be solidly in contention for your choice of bank. Cross River Bank offers a variety of product offerings, including savings accounts, checking accounts and CDs. It has a fair savings rate compared to the average savings account. Locating a bank with free checking and a high interest rate savings account is your best option for getting the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Cross River Bank features a savings rate of 1.92%, which is poor compared to the national average. Cross River Bank's one-year CD earns at a rate of 2.80%, while its highest-yielding money market account earns at an APY of 1.82%. Given its poor savings rate, you should consider other options to earn more on your deposits.

How Cross River Bank's Savings Rates Compare

Cross River Bank Savings 1.92 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on Cross River Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Cross River Bank is a brick-and-mortar bank, with one total bank locations in New Jersey. It also offers access to a web app, for an easy online-banking experience. Cross River Bank receives an excellent consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Cross River Bank is a medium-size bank with assets totaling $1 billion and deposits totaling $1 billion. Cross River Bank's Texas Ratio is 0.01%, signifying a low likelihood of failure. Additionally, Cross River Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Cross River Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 1.92% APY $1
Checking Account 1.71% APY $1
Certificates of Deposit
  • 12 Month: 2.80% APY
  • 24 Month: 2.95% APY
  • 36 Month: 3.25% APY
  • 48 Month: 3.56% APY
$500 for all terms
Money Market Account 1.82% APY $1

Cross River Bank has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. Cross River Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Cross River Bank's CD rates are fair compared to the average U.S. bank.

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Find a Cross River Bank Near Me

Cross River Bank has one physical locations across the U.S.

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