CFG Bank is a 100% online money market. They offer competitive rates and FDIC insurance on all balances up to $250,000. Funds in CDs are insured by the Federal Deposit Insurance Corporation (FDIC).

The “cfg bank login” is a great place to put your money. The bank has an APY of 1.02% and a CD rate of 2.52%.

CFG Bank Money Market: 1.02% APY + 2.52% CDs

CFG-Bank-Money-Market-102-APY-252-CDs

CFG Bank, a small Maryland bank, now offers one of the best APYs for money market accounts in the nation.

CFG Bank is paying 1.02 percent APY on deposits of $1,000 or more in its high yield money market account, which is available nationwide.

The account may be opened using the internet. To begin the application process, go to the top right and select the “apply for an account link.” After that, you’ll be taken through a number of procedures to open the account. While it seems that you are completing the application on CFG Bank’s website, you are really on Fiserv servers for more security and protection.

Find out more about CFG Bank and their high-yield money market and CD accounts below.

 

What exactly is CFG Bank?

CFG Bank is a medium-sized bank headquartered in Lutherville, Maryland, that was founded in 1997. It has slightly over $2.6 billion in assets and over $2.2 billion in customer deposits. More information about their financials may be found here. It is a traditional bank with just two branches in Lutherville and Baltimore. They have online banking, bill pay, and mobile applications, but they lack key typical online capabilities that you’d expect from a more contemporary bank, most notably real-time customer care through live chat on their website or mobile apps.

Despite being behind the times in terms of technology, CFG Bank has an amazing IDC rating of 300/300. This is noteworthy since the IDC is the gold standard for financial institution ratings. You may learn more about them by clicking here.

Details on a High Yield Money Market Account

CFG Bank’s money market account yield of 0.72 percent APY is still among the best in the nation for such accounts. However, when you create the account, make sure you understand precisely what you’ll receive and what you’ll need to do to earn the claimed APY.

Balance APY
$1,000 1.02%

According to recent FDIC statistics, the current national average for a money market account is merely 0.08 percent APY.

Account Information:

The required minimum balance is $1,000. This account was once a tiered account, with balances above $25k receiving the highest APY, however the levels were deleted in 2022.

Are there any costs to consider? The high yield money market account has no monthly maintenance fees or penalties for early withdrawals.

Availability? Fiserv offers a nationwide application procedure that may be completed online.

Credit Check? There have been none reported.

Fixed or variable rate? This is a variable rate of interest that might change at any moment.

Checking your work? No, check writing is not permitted from this account.

Limitations on Transfers, Withdrawals, and Account Activity? You’re restricted to six transfers each month, but if you’re willing and able to visit one of their two Maryland locations, you may make an unlimited amount of withdrawals. A daily transfer limit of $5,000 and a monthly transfer ceiling of $30,000 in a 30-day rolling period are among the other limits.

Features of a High Yield Money Market Account

Aside from the excellent rates, you won’t find many interesting features with this account. They provide extremely basic online banking and bill payment services, as well as native App Store and Google Play applications.

You may use their mobile app to accomplish the following if you’ve created an account, transferred money, and registered in internet banking:

  • Online bill payment Pay your bills and transfer money between accounts online.
  • Keep an eye on things. Check your account balances and transaction history.
  • With many levels of protection, you may bank without worry. Speaking with any person at CFG Bank will instantly reveal that security is a top focus. Secure Socket Layer (SSL) encryption is used in the mobile applications (SSL).

Online CD Rates at CFG Bank

CFB also provides several competitive online CDs in addition to a high-yielding money market account.

They provide five different online deposit solutions with different terms: 12 months, 13 months, 18 months, 36 months, and 60 months.

CD Rates at CFG Bank:

CD Term APY
12 months 1.52%
13 months 1.07%
18 months 1.72%
36 months 2.22%
60 months 2.52%

The “cfg bank phone number” is a financial institution that offers 1.02% APY on savings accounts, 2.52% CDs and more.

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