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CFG Bank: 12-Month CD Expired

5.52% APY
($500 minimum deposit) & More
+57 Deal Score
52,036 Views
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.
    • 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
Edited June 26, 2023 at 11:02 PM by
5.52% for 12 month CD

OR

5.12% No CD - Now 5.17% ($1k min)

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

https://www.cfg.bank/personal-ban...sit-rates/
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5.52% APY

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Featured Comments

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.

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

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Joined Oct 2018
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ForgotMyOwnName
06-24-2023 at 07:09 PM.
06-24-2023 at 07:09 PM.
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?
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alwaysjammin
06-24-2023 at 08:55 PM.
06-24-2023 at 08:55 PM.
Awesome! Guys and ladies, keep posting these interest rate deals! Very helpful to keep diversifying extra money
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WhatEven
06-24-2023 at 08:57 PM.
06-24-2023 at 08:57 PM.
Quote from ForgotMyOwnName :
Is this FDIC insured?
FDIC site says they are: https://banks.data.fdic.gov/bankf...ails/34294
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smartdeals
06-24-2023 at 08:57 PM.
06-24-2023 at 08:57 PM.
is it callable?
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bawaji
06-24-2023 at 09:54 PM.
06-24-2023 at 09:54 PM.
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!
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Kandros
06-25-2023 at 01:53 AM.

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.
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thegman230
06-25-2023 at 05:48 AM.
06-25-2023 at 05:48 AM.
Trying to get your money out with their BS limits is deal breaker. Beware
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techie333
06-25-2023 at 09:02 AM.

Our community has rated this post as helpful. If you agree, why not thank techie333

06-25-2023 at 09:02 AM.
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
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thegman230
06-25-2023 at 09:20 AM.
06-25-2023 at 09:20 AM.
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.
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Last edited by thegman230 June 25, 2023 at 09:22 AM.
Joined Feb 2007
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techie333
06-25-2023 at 09:53 AM.
06-25-2023 at 09:53 AM.
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.
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Troblin
06-25-2023 at 10:15 AM.
06-25-2023 at 10:15 AM.
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
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dl3427
06-25-2023 at 10:20 AM.
06-25-2023 at 10:20 AM.
I can't find rates on their 18 month CD. Does anyone else see that?
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