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expired Posted by Blubluthehusky • Jun 24, 2023
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expired Posted by Blubluthehusky • Jun 24, 2023

CFG Bank: 12-Month CD

($500 minimum deposit) & More

5.52% APY

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Deal Details
CFG Bank is offering a 12-Month Certificate of Deposit at 5.52% APY with $500 minimum deposit.

Thanks to Community Member Blubluthehusky for posting this deal.

CFG Bank is also offering a High Yield Money Market Account at 5.17% APY with $1000 minimum deposit.

Note: Rates are accurate as of 6/26/2023. View current rates here.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Certificate of Deposit:
      • Rates are accurate as of 6/26/2023.
      • $500 minimum deposit to open
      • No withdrawals may be made within the first 30 days. After 30 days no withdrawal penalties will be waived.
      • Maximum initial funding limit is $500,000. Funding sources available include ACH Funding and Plaid Funding.
    • High Yield Money Market Account
      • Minimum deposit to open this account is $1,000. You must maintain a minimum balance of $1,000 in the account daily to avoid a $10 service fee.
      • Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
      • Account will remain in credits only status for 5 days.
      • Maximum initial funding amounts:
        • Plaid Funding – $500,000
        • ACH Funding- $5,000.00
      • No check writing or debit card privileges are allowed with this account.
    • CFG Bank is FDIC Insured.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86
  • Compare this rate to other CDs in the market.

Original Post

Written by Blubluthehusky
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
CFG Bank is offering a 12-Month Certificate of Deposit at 5.52% APY with $500 minimum deposit.

Thanks to Community Member Blubluthehusky for posting this deal.

CFG Bank is also offering a High Yield Money Market Account at 5.17% APY with $1000 minimum deposit.

Note: Rates are accurate as of 6/26/2023. View current rates here.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Certificate of Deposit:
      • Rates are accurate as of 6/26/2023.
      • $500 minimum deposit to open
      • No withdrawals may be made within the first 30 days. After 30 days no withdrawal penalties will be waived.
      • Maximum initial funding limit is $500,000. Funding sources available include ACH Funding and Plaid Funding.
    • High Yield Money Market Account
      • Minimum deposit to open this account is $1,000. You must maintain a minimum balance of $1,000 in the account daily to avoid a $10 service fee.
      • Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
      • Account will remain in credits only status for 5 days.
      • Maximum initial funding amounts:
        • Plaid Funding – $500,000
        • ACH Funding- $5,000.00
      • No check writing or debit card privileges are allowed with this account.
    • CFG Bank is FDIC Insured.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86
  • Compare this rate to other CDs in the market.

Original Post

Written by Blubluthehusky

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Top Comments

Kandros
The $10 fee is only if you go below the $1,000 minimum daily balance. And you need to make a minimum deposit of $1,000 to open an account. Should not be an issue.
techie333
Use external bank for push/pull. No limits
mdsuperstar
If married, and opened as a joint account, it's $250K/ea for you and spouse, so $500K in that circumstance.

Each co-owner of a joint account is insured up to $250,000 for the combined amount of his or her interests in all joint accounts at the same IDI.

https://www.fdic.gov/deposit/diguidebankers/documents/joint-accounts.pdf

112 Comments

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Jun 25, 2023
1,808 Posts
Joined Oct 2018
Jun 25, 2023
ForgotMyOwnName
Jun 25, 2023
1,808 Posts
Quote from Blubluthehusky :
5.52% for 12 month CD

OR

5.12% No CD

This is better than all the CIT Bank deals I am seeing on slick deals.

https://www.cfg.bank/personal-ban...sit-rates/ [cfg.bank]
Is this FDIC insured?
2
Jun 25, 2023
93 Posts
Joined May 2010
Jun 25, 2023
alwaysjammin
Jun 25, 2023
93 Posts
Awesome! Guys and ladies, keep posting these interest rate deals! Very helpful to keep diversifying extra money
Jun 25, 2023
20 Posts
Joined Nov 2005
Jun 25, 2023
WhatEven
Jun 25, 2023
20 Posts

Our community has rated this post as helpful. If you agree, why not thank WhatEven

Quote from ForgotMyOwnName :
Is this FDIC insured?
FDIC site says they are: https://banks.data.fdic.gov/bankf...ails/34294
2
Jun 25, 2023
11,570 Posts
Joined May 2005
Jun 25, 2023
smartdeals
Jun 25, 2023
11,570 Posts
is it callable?
1
Jun 25, 2023
434 Posts
Joined Dec 2011
Jun 25, 2023
bawaji
Jun 25, 2023
434 Posts

Our community has rated this post as helpful. If you agree, why not thank bawaji

For those who may not be aware, High Yield Money Market account has a monthly maintenance fee of $10 per https://www.cfg.bank/personal-ban...-schedule/. There are limits on the amount that can be withdrawn per day and per month.

Also, FDIC insurance is not mentioned prominently on their website. I found it mentioned in the FAQ.

Good rates!
1
2
Jun 25, 2023
88 Posts
Joined Jun 2018
Jun 25, 2023
Kandros
Jun 25, 2023
88 Posts

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Quote from bawaji :
For those who may not be aware, High Yield Money Market account has a monthly maintenance fee of $10 per https://www.cfg.bank/personal-ban...-schedule/ [cfg.bank]. There are limits on the amount that can be withdrawn per day and per month.

Also, FDIC insurance is not mentioned prominently on their website. I found it mentioned in the FAQ.

Good rates!
The $10 fee is only if you go below the $1,000 minimum daily balance. And you need to make a minimum deposit of $1,000 to open an account. Should not be an issue.
6
Jun 25, 2023
4,543 Posts
Joined Mar 2005
Jun 25, 2023
thegman230
Jun 25, 2023
4,543 Posts
Trying to get your money out with their BS limits is deal breaker. Beware

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Jun 25, 2023
1,664 Posts
Joined Feb 2007
Jun 25, 2023
techie333
Jun 25, 2023
1,664 Posts

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Quote from thegman230 :
Trying to get your money out with their BS limits is deal breaker. Beware
Use external bank for push/pull. No limits
3
Jun 25, 2023
4,543 Posts
Joined Mar 2005
Jun 25, 2023
thegman230
Jun 25, 2023
4,543 Posts
Quote from techie333 :
Use external bank for push/pull. No limits
Is this a confirmed fact? This bank seems anti consumer with their strict wording in their website and why they wouldn't advertise FDIC insured is stupid.
Last edited by thegman230 June 25, 2023 at 09:22 AM.
Jun 25, 2023
1,664 Posts
Joined Feb 2007
Jun 25, 2023
techie333
Jun 25, 2023
1,664 Posts
Quote from thegman230 :
Is this a confirmed fact? This bank seems anti consumer with their strict wording in their website and why they wouldn't advertise FDIC insured is stupid.
Good point. No it's not but been the case for getting around other bank limits. I have an account, I may try and update. Their interface is ancient, feels like 2000 again.
Jun 25, 2023
354 Posts
Joined Jul 2006
Jun 25, 2023
Troblin
Jun 25, 2023
354 Posts

Our community has rated this post as helpful. If you agree, why not thank Troblin

I use CFG. I agree, their website and app are a bit clunky, but their rate is top notch.

Zelle works, Bill pay works, and no issues getting around transfer limits via external pull from sofi
2
Jun 25, 2023
8 Posts
Joined Feb 2014
Jun 25, 2023
dl3427
Jun 25, 2023
8 Posts
I can't find rates on their 18 month CD. Does anyone else see that?
Jun 25, 2023
1,140 Posts
Joined Oct 2017

This comment has been rated as unhelpful by Slickdeals users.

Pro
Jun 25, 2023
501 Posts
Joined Apr 2014
Jun 25, 2023
SAIGA-Genesis
Pro
Jun 25, 2023
501 Posts

Our community has rated this post as helpful. If you agree, why not thank SAIGA-Genesis

Quote from LawrenceT6420 :
If I transfer $400,000 is it protected by fdic?
Only if you transfer it to me.
2
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Jun 25, 2023
25 Posts
Joined Jan 2016
Jun 25, 2023
fatboylou
Jun 25, 2023
25 Posts
Quote from LawrenceT6420 :
If I transfer $400,000 is it protected by fdic?
FDIC if they have it is up to $250,000 in most cases 🤔
1

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