Available for residents nationwide, CFG Bank is offering a High Yield Money Market Account with 4.32% APY.
Update 2/21/25: The rate has decreased to 4.32% APY from 4.52% APY.
CFG Bank High Yield Money Market Review
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.
I’ll review CFG Bank High Yield Money Market below.
CFG Bank High Yield Money Market Rate
To earn CFG Bank’s competitive rate, simply have an opening deposit of $1,000. That’s all it takes and you’ll get to enjoy earning rate on all balances.
- What you’ll get: 4.32% APY
- Eligible account: High Yield Money Market
- Credit inquiry: Soft Pull
- Where it’s available: Nationwide (Bank Locator)
- Opening Deposit: $1,000 minimum
- Monthly fee: <$1,000 will have a $10 monthly fee.
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
Editor’s Note: This promotional rate is available to residents nationwide through their online application.
How to Earn CFG Bank Rate
- Open a High Yield Money Market account
- 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 4.32% APY for balances of $1,000 or more
| Balance Requirement | APY Rate |
| $1,000+ | 4.32% APY |
CFG Bank Account Features
- FDIC Insured
- Bill Pay, Online and Mobile Banking
- Transaction Limitations: Only 6 transfers allowed per statement cycle
- No maintenance fee when a minimum of $1,000 balance is maintained during the statement cycle
- Funding accounts is made easy via bank transfers, mobile deposit, wire transfer or check
- Access to over 2000 service-charge free ATMs
Notes:
- There is no checking writing or ATM card associated with the HYMM.
- Following initial funding, there is daily external outbound transfer limit of $5k and daily inbound transfer limit of $25k. The total external transfers (inbound and outbound) may not exceed $30k in a 30-day rolling period. These limitations refer to transfers that are initiated from CFG Bank.
- The transfer limit can be temporarily increased for five business days by calling 888.205.8388 during weekday business hours. As stated in the FAQs, “We will record verification of your identity and request prior to inputting the increase.”
- Additional deposits can be made through ACH transfers from another bank, wire transfer, mobile deposit, or by mailing a check.
- A minimum daily balance of $1k is required to avoid the $10 monthly service fee.
- Up to four beneficiaries can be added on the online application. Additional beneficiaries can be added over the phone.
- Trust accounts cannot be opened online.
Is CFG Bank FDIC Insured?
Yes, CFG Bank is FDIC insured. Learn more.
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Conclusion
If you are a current resident and would like to start a new banking experience, then I would definitely recommend checking out the current promotion. CFG Bank is offering a competitive rate when you open a High Yield Money Market Account. Be sure to take advantage of this great promotion and start earning today!
For more options, compare CFG Bank with our list of the best bank rates for savings/money market accounts here and CD rates here.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
Let us know about your experience with this bank and comment below.
Anthony, your article says “Maryland only” but I contacted CFG and they said the online money market acct is available in many other states, such as Georgia where I reside.