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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

113 Comments 53,920 Views
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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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Jul 2, 2023
142 Posts
Joined Oct 2016
Jul 2, 2023
UgetDatThingIsentU
Jul 2, 2023
142 Posts
Quote from fatboylou :
FDIC if they have it is up to $250,000 in most cases 🤔
Can you put 2 beneficiary and then fdci considers up to 500,000 coverage?
Jul 2, 2023
398 Posts
Joined Nov 2008
Jul 2, 2023
markzabin
Jul 2, 2023
398 Posts
Quote from AwesomeUzbek :
5.25% for 12 months not 5.52%
https://nasafcu.com/stellaryields

5.65% currently here @ 9 months.
Jul 2, 2023
952 Posts
Joined May 2021
Jul 2, 2023
JollyReward108
Jul 2, 2023
952 Posts
They already lowered the APY to 5.25%.
Probably too much $ came in and the computer told them they
can't afford to pay that higher rate.
Not enough people are taking out loans.
Jul 4, 2023
429 Posts
Joined Nov 2011
Jul 4, 2023
TD912
Jul 4, 2023
429 Posts
I applied Wednesday last week and it's still stuck in review. Maybe they're slow because of the weekend and 4th of July holiday? I think it said 2-3 days to review so assuming business days it should have went through already. Guess I'll give them a few more days and call them.
Jul 4, 2023
40 Posts
Joined Sep 2011
Jul 4, 2023
iMrNiceGuy0023
Jul 4, 2023
40 Posts
Quote from TD912 :
I applied Wednesday last week and it's still stuck in review. Maybe they're slow because of the weekend and 4th of July holiday? I think it said 2-3 days to review so assuming business days it should have went through already. Guess I'll give them a few more days and call them.
I applied at 2am this morning and got approved on the spot. Got my account and routing number instantly.
Jul 4, 2023
2,506 Posts
Joined May 2006
Jul 4, 2023
tivoboy
Jul 4, 2023
2,506 Posts
Quote from markzabin :
https://nasafcu.com/stellaryields

5.65% currently here @ 9 months.
Seems pretty hard to join this CU without the applicable work or family relationships.
Jul 4, 2023
726 Posts
Joined Jan 2008
Jul 4, 2023
Diz
Jul 4, 2023
726 Posts
Quote from JollyReward108 :
They already lowered the APY to 5.25%.
Probably too much $ came in and the computer told them they
can't afford to pay that higher rate.
Not enough people are taking out loans.
The rate was consistently creeping up until someone posted about this great bank on SD. I don't blame them for dropping the rate for I'm sure they had a massive influx of new $ come in.

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Jul 5, 2023
229 Posts
Joined May 2013
Jul 5, 2023
FrequentBuyer
Jul 5, 2023
229 Posts
Any one can answer:

With money market account, how often the APY rate changes?

How can I figure it out? Couldnt find it in the fine prints.

Appreciate it.
Jul 11, 2023
280 Posts
Joined Feb 2007
Jul 11, 2023
rentown
Jul 11, 2023
280 Posts
what is the difference between a high yield money market and a high yield savings?
Jul 12, 2023
4,543 Posts
Joined Mar 2005
Jul 12, 2023
thegman230
Jul 12, 2023
4,543 Posts
Quote from FrequentBuyer :
Any one can answer:

With money market account, how often the APY rate changes?

How can I figure it out? Couldnt find it in the fine prints.

Appreciate it.
At any time
Jul 12, 2023
280 Posts
Joined Feb 2007
Jul 12, 2023
rentown
Jul 12, 2023
280 Posts
Quote from 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.
but there is a $50 fee if you close the account? i was reading on the reviews anyone can confirm this? thanks
Jul 13, 2023
229 Posts
Joined May 2013
Jul 13, 2023
FrequentBuyer
Jul 13, 2023
229 Posts
Quote from thegman230 :
At any time
ooo. so thats why you should only trust the stable banks.
Jul 13, 2023
1,889 Posts
Joined Jan 2015
Jul 13, 2023
khronos
Jul 13, 2023
1,889 Posts
Quote from FrequentBuyer :
ooo. so thats why you should only trust the stable banks.
stable banks can also change rates whenever they want
Jul 13, 2023
6,486 Posts
Joined Feb 2006
Jul 13, 2023
karrun
Jul 13, 2023
6,486 Posts
Weird that this thread is weeks old and only going FP now That said, I opened an account weeks ago and it was very easy.

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Jul 13, 2023
280 Posts
Joined Feb 2007
Jul 13, 2023
rentown
Jul 13, 2023
280 Posts
Quote from FrequentBuyer :
ooo. so thats why you should only trust the stable banks.
so why you should trust this bank?

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