CFG Bank

Deposit Rates APY Vs.Others
Savings 0.59% 0.85% →
1-Year CD 0.67% 0.67% →
2-Year CD N.A. 0.80% →
3-Year CD 0.85% 1.00% →
4-Year CD N.A. 0.85% →
5-Year CD 1.00% 1.25% →

2021 Overview

General Online Bank Information

Money that you deposit is held by CFG Community Bank. CFG Community Bank is an FDIC insured institution founded in 1997. It has approximately $2.05 billion in assets.

Deposits FDIC Insured Yes
Insured Bank CFG Community Bank
FDIC Certificate # 34294
Date Established 1997
Assets $2.05 billion
Loans $1.49 billion
Deposits $1.71 billion
Capital $0.23 billion

For a more detailed analysis of CFG Community Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 5, 2021

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Money Market
0.59% $25,000 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12-Month CD
0.67% $500 - Learn More
13 Month No Penalty CD
0.62% $500 - Learn More
18-Month CD
0.70% $500 - Learn More
36 Month Online CD
0.85% $500 - Learn More
5-Year CD
1.00% $500 - Learn More

 

Bank Offers

CFG Bank Lowers Money Market to 2.25% APY
Dec 12, 2019

CFG Bank has lowered its money market rate for balances over $25,000 from 2.30% to 2.25% APY.  The rate remains the best online savings or money market rate nationally available in the US.  You may however find higher rates at banks and credit unions near you.

CFG Bank has also slightly lowered all of its CD offerings.   Its 12-month, 18-month and 60-month offerings now stand at 2.15% APY, 2.33% APY and 2.60% APY, respectively.

 


CFG Bank Lowers Money Market Rate to 2.05% APY
Feb 26, 2020

CFG has lowered its money market accounts rate to 2.05% APY from 2.15% APY.   The account requires a $25,000 minimum, and only permits daily withdrawals up to $5,000 (and monhtly withdrawals up to $30,000).


CFG Bank Lowers Online Savings Rate to 0.68% APY
Jan 13, 2021

CFG has lowered its online savings rate by 5 basis points which is just enough so that it is no longer the highest nationally-available online savings rate in the country.




Climate Initiatives

CFG Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.



Customer Reviews for CFG Bank


  • December 3, 2021 |

    Online Savings Rates

    Heather is very nice on the phone and the others are very helpful as well. But there are lots of shenanigans going on here when the quietly lose small amounts when transferring between CDs or say that they closed your savings account because you moved everything to a CD. They are cheating small to support the rate, and I am heading back to Ally which is much more transparent.

  • November 30, 2021 |

    Online Savings Rates

    All in all, I am glad that I found this bank here, but it is cumbersome to use the online interface. Some days I cannot log on. And I never get a full picture of my account that now has a couple CDs, a MM and a couple of no penalty CDs. Would a simple line with account totals be too much to ask?

  • October 26, 2021 |

    Online Savings Rates

    Not the most user friendly website, but the folks are pleasant to work with and a slightly higher rate means slight less than I am losing every day to this runaway inflation.

  • June 3, 2021 |

    Online Savings Rates

    not perfect, but the rate is consistently at the top and therefor worth the effort

  • April 3, 2021 |

    Online CDs 12 Month Rates

    Communication fails. I attempted to open an account online. Just reaching a person took way too long, Bank required loan pull from an existing account first--a potential red flag to both my investment company and me. I continued nevertheless, sending all information CFG required. Waited for a week, still very difficult to get anyone to answer phone. In the end, a bank rep informed me my application expired due to...no communication. I lost time and interest income, while the bank personnel never did anything. If a bank can't get a simple application right, or even contact me, I certainly wouldn't trust it with handling my money.

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