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 & Price Research
Written by
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.
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.
Use external bank for push/pull. No limits
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.
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 There are limits on the amount that can be withdrawn per day and per month.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.
Our community has rated this post as helpful. If you agree, why not thank Kandros
06-25-2023 at 01:53 AM.
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 There are limits on the amount that can be withdrawn per day and per month.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.
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.
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.
113 Comments
Your comment cannot be blank.
Featured Comments
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
Sign up for a Slickdeals account to remove this ad.
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]
Also, FDIC insurance is not mentioned prominently on their website. I found it mentioned in the FAQ.
Good rates!
Our community has rated this post as helpful. If you agree, why not thank Kandros
Also, FDIC insurance is not mentioned prominently on their website. I found it mentioned in the FAQ.
Good rates!
Sign up for a Slickdeals account to remove this ad.
Our community has rated this post as helpful. If you agree, why not thank techie333
Use external bank for push/pull. No limits
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.
Zelle works, Bill pay works, and no issues getting around transfer limits via external pull from sofi