CFG Bank

Deposit Rates APY Vs.Others
Savings 5.02% 5.02% →
1-Year CD 5.15% 5.25% →
2-Year CD N.A. 5.10% →
3-Year CD 4.60% 4.60% →
4-Year CD N.A. 4.54% →
5-Year CD 4.50% 4.50% →

2023 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 $3.21 billion in assets.

Deposits FDIC Insured Yes
Insured Bank CFG Community Bank
FDIC Certificate # 34294
Date Established 1997
Assets $3.21 billion
Loans $3.21 billion
Deposits $3.66 billion
Capital $0.35 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 - March 29, 2023

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Yield Money Market
5.02% $1,000 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12-Month CD
5.15% $500 - Learn More
18-Month CD
5.00% $500 - Learn More
36 Month Online CD
4.60% $500 - Learn More
5-Year CD
4.50% $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.

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. 

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 (49)

  • 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.

  • February 23, 2023 |

    Online Savings Rates

    I've read all the reviews and been a depositor for many years. I do not live in Maryland and have never had a problem interfacing with them through the website or by phone. I would describe changing products as a nuisance (but not a problem) as you need to call and send documents to switch from say savings to CD to No Penalty CD back to savings. (Marcus and Ally are the gold standard here, CIT is worse). Politically, I am not a fan of the bank's focus on cannabis banking. Otherwise, I have been a very happy customer.

  • January 11, 2023

    Online CDs 12 Month Rates

    Applied online for CD Jan 2023. 2 days later still no contact. Called 45 min for rep. Rep said process takes 10-14 days no interest until funded.

  • December 21, 2022 |

    Online Savings Rates

    Have been a depositor for several years and have had nothing but positive experiences.

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