CFG Bank

Deposit Rates APY Vs.Others
Savings 0.72% 0.91% →
1-Year CD 0.73% 0.85% →
2-Year CD N.A. 0.95% →
3-Year CD N.A. 1.00% →
4-Year CD N.A. 1.20% →
5-Year CD 0.88% 1.30% →

2020 Overview

General Online Bank Information

Money that you deposit is held by CFG Bank. CFG Bank is an FDIC insured institution founded in 1997. It has approximately $1.29 billion in assets.

Deposits FDIC Insured Yes
Insured Bank CFG Bank
FDIC Certificate # 34294
Date Established 1997
Assets $1.29 billion
Loans $0.96 billion
Deposits $1.09 billion
Capital $0.17 billion

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

Deposit Rates - December 4, 2020

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Money Market
0.72% $25,000 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12-Month CD
0.73% $500 - Learn More
18-Month CD
0.68% $500 - Learn More
5-Year CD
0.88% $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).

Customer Reviews for CFG Bank

  • November 22, 2020 |

    Online Savings Rates

    Nothing to complain about. Easiest bank to sign in to and to use and easy to reach someone if I have a question.

  • October 12, 2020 |

    Online Savings Rates

    I've been pleasantly surprised by how nice the folks are and how easy to work with they are. Rate stays among the best and I will stay.

  • September 08, 2020 |

    Online Savings Rates

    I opened some time ago and have been pleased to see that they remain competitive even while the rates fall. I wish I could say the same for Capital One and Barclays.

  • August 28, 2020 |

    Online Savings Rates

    Website is occasionally down, but no other problems.

  • August 24, 2020 |

    Online Savings Rates

    I am not sure it really qualifies as an online bank. I opened an account but I live in Baltimore. I would be more hesitant if I did not.

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