CFG Bank

Deposit Rates APY Vs.Others
Savings 5.25% 5.55% →
1-Year CD 5.31% 5.60% →
2-Year CD N.A. 5.00% →
3-Year CD 4.35% 5.00% →
4-Year CD N.A. 4.55% →
5-Year CD 4.05% 4.55% →

2024 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 $5.03 billion in assets.

Deposits FDIC Insured Yes
Insured Bank CFG Bank
FDIC Certificate # 34294
Date Established 1997
Assets $5.03 billion
Loans $3.5 billion
Deposits $4.38 billion
Capital $0.54 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 - April 19, 2024

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Money Market
5.25% $1,000 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12-Month CD
5.31% $500 $500,000 Learn More
18-Month CD
4.75% $500 $500,000 Learn More
36 Month Online CD
4.35% $500 $500,000 Learn More
5-Year CD
4.05% $500 $500,000 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.

CFG Bank Raises Online Savings Rate to 0.70% APY
Mar 11, 2022

CFG has raised its online savings rate from 0.63 to 0.70% APY, making it one of only about 5 or 6 banks to over over 0.70%.

Its 13-month No Penalty CD rate was also raised to 0.80% APY.   See all No Penalty and special term CD rates here

CFG Bank Raises Online Money Market Rate to 4.25% APY
Jan 23, 2023

CFG Bank has raised its online money market rate to 4.25% APY.   This move places it within 10 basis points of My Savings Direct, the current savings and money market rate leader. 

CFG Bank Raises 1-Yr and 18-Month CDs to 5.25% APY But Products Carry an 180 Day EWP
May 11, 2023

CFG Bank has raised its 1-year and 18-month CDs to 5.25% APY today.   The rate had previously been 5.17%.

This rate now tops the respective tables.

Depositors should be aware that these products carry 180-day Early Withdrawal Penalties which would be a heavy price to pay should you need to terminate the CD before maturity.

Climate Policy and 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.

CFG Bank Climate Score: Pending

Customer Reviews for CFG Bank (52)

  • September 30, 2023 |

    CFG overs very competitive Interest rates on their High Yield Savings account.
    I did everything ONLINE and have not had any issues with their service.

  • May 3, 2023 |

    30-year USAA member that consistently earned .01% interest on savings. Took son's advice and transferred funds to CFG. On $100k I earned $0.63 monthly with USAA - whereas CFG shares the wealth and I earn $400+. Satisfied customer.

  • April 11, 2023 |

    No problem with phoning the bank. It can take 5 to 10 days for the wire transfer, since CFG first makes 2 small deposits into your account to verify the Routing Number and account number YOU provide is valid. That itself can take 2 business days. Then depending on when YOU check your email and recieve a secure link from CFG, you must confirm the small amounts (2) (.28 and .87) prior too, the transfer of funding amount (10K) in my case. Easy to follow web site, just read every word, Safe and Secure.

  • March 27, 2023 |

    Online Savings Rates

    CFG is an outstanding bank, and now rate is over 5%!

  • February 28, 2023 |

    Online CDs 12 Month Rates

    I have tried to reach this bank due to my application did not go through by calling them and leaving messages for three days. No one will answer the phone or call me back. I am very disappointed after giving them all my personal information.

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