Certificate of Deposit Features Guide
| Interest Rate | |
| APY | 5.31% |
| Term Length | 12 Month |
| Minimum deposit amount | $500.00 |
| Maximum deposit amount | $500,000.00 |
| Balance Requirements | |
| Minimum Opening Deposit | $500.00 |
| Minimum Balance to Avoid Fees | - |
| Minimum Required Balance | $500.00 |
| Fees | |
| Early withdrawal penalty | Six Months of Interest |
| Monthly Maintenance Fee | N/A |
| Foreign ATM Fees | N/A |
| Insufficient Funds Fee | N/A |
| Incoming Wires | N/A |
| Account Opening | |
| Open Online | Yes |
| Insured by | F.D.I.C. |
| Statements | |
| Paper Statements | × |
| Online Statements | Yes |
| Online and Telephone Banking | |
| Online Banking | Yes |
| Telephone Banking | Yes |
| Mobile Banking | Yes |
| Deposit Checks with Mobile Device | Yes |
| Free Bill Pay | Yes |
| Online Bill Payments Required | Yes |
Account Description
• No additional deposits are permitted after initial deposit.
• The minimum balance for all CDs is $500, and the maximum deposit is $250,000.
• Fees could reduce the earnings on the account.
• These accounts are subject to an early withdrawal penalty.
• All accounts are subject to a 7 days interest penalty if withdrawal occurs within 6 days of account opening.
Rate History
| Date | APY |
|---|---|
| April 8, 2024 | 5.31% |
| March 7, 2024 | 5.40% |
| February 23, 2024 | 5.35% |
| January 9, 2024 | 5.25% |
| November 13, 2023 | 5.35% |
| October 18, 2023 | 5.50% |
| September 26, 2023 | 5.67% |
Customer Reviews for Cfg Bank (1)
Rated 2.00 stars out of 5 - based on 1 reviews
Maricica Sloss
August 19, 2021 |
It's nice to see smaller and obscure banks come online to offer rates just at or above what everybody else is giving. There is a catch especially when these same banks have low or no amount to buy in.
What's going on is their website will collect all your banking and financial info then vanish. Maybe you will get a denial letter or maybe you will never hear from them again. You will get ghosted. You can call a customer service number they have listed on the portal and leave a whole bunch of messages. If you manage to speak to someone at a Philippine Island call center they will deny having your application.
The banks are awash in cash. They don't want your money or you for that fact talking about buying a CD. It's the way things are with the Fed and Covid 19 tamping down the interest rates.
Your sensitive financial info is worth more to these smaller obscure banks than your money is. They aren't loaning any money out anywhere in the country. In other words the banks aren't making any money. They will collect your info to use however they can.