Available to residents nationwide, CFG Bank is offering a rate of 2.15% APY when you open a High Yield Money Market Account.
Continue reading below to learn everything you need to know about CFG Bank.
Table of Contents
About CFG Bank Money Market
CFG Bank was founded in 1927, when La Corona Building and Loan Association, Inc., was formed to meet the financial needs of Highlandtown and East Baltimore residents. While the name of the bank has changed since 1927, they are still committed to providing products, services and solutions that you need, all with a level of professionalism that assures a lasting relationship built on trust.
Being an online account, they can offer one of the highest rates! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
I’ll review CFG Bank Money Market bonus below.
Note: Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, BBVA Bank or CIT Bank.
CFG Bank Money Market 2.15% Rate
- Account Type: High Yield Money Market Account
- Interest Rate: 2.15% APY
- Minimum Balance: $25,000
- Maximum Balance: None
- Availability: Nationwide (Bank Locator)
- Credit Inquiry: Unknown, Let us know
- Opening Deposit: $1,000 minimum
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: <$1,000 will have a $10 monthly fee.
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
Editor’s Note:Your external transfers may not exceed $30,000 in a 30-day rolling period.
American Express Personal Savings Account - You earn 1.70% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why: *No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account. *1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two. *No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest. Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month. |
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Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses. |
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| PROMOTIONAL LINK | RATE | REVIEW |
| Discover Bank Online Savings | 1.60% APY + $200 Cash | Review |
| Simple | 1.90% APY | Review |
| CIT Bank Savings Builder | 1.75% APY + $100/$200 Bonus | Review |
| UFB Direct High Yield Savings | 1.90% APY | Review |
| Betterment EverydayTM Cash Reserve | 1.83% APY | Review |
| American Express High Yield Savings | 1.70% APY | Review |
CFG Bank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | None |
| Pull | ? | ? | ? | None |
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn CFG Bank Rate
- Open a Money Market account from CFG Bank with minimum deposit of $1,000.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- Earn APY based on your account balance:
| Balance Requirement | APY Rate |
| $1,000 – $24,999 | 2.05% |
| $25,000+ | 2.15% |
Why You Should Sign Up For This Account
- Funding accounts is made easy via bank transfers, mobile deposit, wire transfer or check
- All deposits are FDIC insured to the maximum amount allowed by the law
- No maintenance fee when a minimum of $1,000 balance is maintained during the statement cycle
- Access to over 2000 service-charge free ATMs
- Bill Pay, Online and Mobile Banking
- Transaction Limitations: Only 6 transfers allowed per statement cycle
Bottom Line
Available to residents nationwide, CFG Bank is offering a 2.15% APY when you open a High Yield Money Market Account. Rates are subject to change at any time but if you open an account today with a minimum deposit of $1,000 you can start earning interest on your account.
If you have any information on this account feel free to share your experiences with this bank by commenting below. For more bank offers, see our complete list of Best Bank Rates.
Check back often to see the latest info on CFG Bank Money Market Account.
I recently opened an account. Process was a little tedious but I’d rather have a more rigorous bank than one that flys by the seat of their pants! Withdrawals could be better but I’m happy with my 2.25%! I recommend!
Is my acct open
After researching, I opened a High Yield MM account last month. Is it possible to wire transfer money out in larger amounts? $30,000 monthly is somewhat limiting. Eventually will need access to larger withdrawal.
Tony, if you want to withdraw more than $30K per month, simple initiate the ACH transfer (pull) from another Bank that doesn’t have this limit.
Less than $25K balance gets 2.13% APY, less than $1K balance no interest + $10 monthly fee. $1K balance to keep account open.
Thank you for the update.
Correction $25K balance gets 2.32% or 2.35% APY.
I just read:
Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
See: https://www.thecfgbank.com/deposit-rates
I will confirm if externally initiated transfers are limited as explained above.
As of 11/5/19 they changed their website to https://www.thecfgbank.com.
Thanks Greg. It has been updated.
Today (10/11/19), the APY is as follow:
$1,000.00 – $24,999.99, 2.36%
$25,000.00+, 2.50%
Hi. Are you a current customer with them? how is their service — online and customer service.?
thanks.
I am not their customer but I am thinking opening new account with them.
this money market is available to people outside of Maryland too. I live in Texas and I just signed up for it and transferred money over no problem.
Josh, did you do a lot of research on the online savings account with CFG before sending them your money? I just find it hard to believe that such a small bank in MD can provide the highest yield (now 2.56%). I did find one review that gave it A ratings as for financial stability.