Certificate of Deposit Features Guide
| Interest Rate | |
| APY | 3.75% |
| Term Length | 36 Month |
| Minimum Deposit Amount | $500.00 |
| Maximum Deposit Amount | N/A |
| Balance Requirements | |
| Minimum Opening Deposit | - |
| Minimum Balance to Avoid Fees | - |
| Minimum Required Balance | - |
| Fees | |
| Early Withdrawal Penalty | N/A |
| Monthly Maintenance Fee | N/A |
| Foreign ATM Fees | N/A |
| Insufficient Funds Fee | N/A |
| Incoming Wires | N/A |
| Account Opening | |
| Open Online | × |
| 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 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 |
|---|---|
| January 15, 2025 | 3.75% |
| November 12, 2024 | 3.85% |
| October 01, 2024 | 3.65% |
| August 16, 2024 | 3.85% |
| January 09, 2024 | 4.35% |
| November 10, 2023 | 4.55% |
| September 05, 2023 | 4.70% |
Customer Reviews for Cfg Bank (9)
Rated 3.33 stars out of 5 - based on 9 reviews
SueT
May 8, 2023 |
This one works fine as a savings account paying an extremely good interest rate that is always among the best, as long as you really don't need to make many transactions. Also don't try to move your money around back and forth to their CDs as you will be trying to fill out forms online and searching for a fax machine just to get things back to normal.
TRSmith
January 8, 2023 |
I live in the Baltimore area. CFG is a local Maryland-only bank. It has been heavily covered in local media that they are the leading Maryland bankers for the cannabis industry here. Some will view that positively, but I have family members who suffered grave injuries in an accident where the other driver was high two years ago. CFG was a fine local bank and I would urge them to reconsider and am banking elsewhere in the meantime.
nunya
May 5, 2025
Your personal experiences OUTSIDE the bank shouldn't be the basis for your review of how the bank actually functions.
GerryG
January 4, 2023 |
I'd rather do business with a bank that values my business. They obvously do not.
Jay
November 28, 2022 |
It is a small bank and that is a tad annoying, but the experience has been good.
CJR
November 15, 2022 |
Very positive experience. Small bank in MD. Not necessarily an online bank, but they have been friendly and easy to work with.
GG - Senior
April 23, 2022 |
Thanks CFG ! Opened a 12-month CD today with the fantastic rate of 1.24%. Best rate in town. Most area banks still offering terrible rates .01% to .50%. Not at all fair when charging up to 5% for loans.
JYee
March 29, 2022 |
CFG is not the easiest of these banks to work with. That would go to Ally. But, it is just about the most competitive with rates, always showing in the top 3 on all categories on rates&info so I stick with it.
Pohl
February 11, 2022 |
Not an online bank whatsoever and shouldn't be listed as such. Cannot do anything online. Ally and all the rest let you move in and out of no penalty CDs online in 2 seconds. Here the rate went from 0.62 to 0.70% and I cannot move without calling and filling out offline paperwork to open a new savings account, calling again and filling out offline paperwork to exit existing CD, calling again and filling out offline paperwork for the new CD. This might work for someone who lives near and branch, has time to kill and isn't concerned about getting COVID from spending two days hanging out at a branch in Maryland. It doesn't work for the rest of us.
Abzie
May 5, 2025
@Pohl - Not my experience at all. Moving to a new no penalty CD is not as easy as Ally or some of the others used to be, but it doesn't require multiple transactions at all. I needed to open a new account online (indicated funding from CFG Bank), and to fill out a form closing the old CD (scan and return). I also needed to confirm the transaction with Heather on a recorded line. Yes a couple extra steps and yes it requires a printer and scanner, but it works.
Larry K 88
June 21, 2021 |
I've been a customer for a couple of years already, having jumped in back in 2019 when they started offering great rates on 2-year CDs online just after the Fed began cutting. Rates remain very competitive, even though rate environment has changed. Zero serious problems. I would prefer to be able to renew the CDs or change renewal terms online. Website could be more friendly and I do not feel 100% comfortable as to their web security processes. Phone support is super and seems to be provided by two women, both of whom give the impression that I am dealing with a small bank that knows me well.