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CFG Bank Review 2025

Updated January 2, 2025
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At a glance

Overview

CFG Bank is best for savers who want a bank offering highly competitive certificate of deposit (CD) and money market interest rates. The bank also offers a standard savings account and a savings account for those under 18. If you live near one of the three branch locations in Maryland, you will have access to in-person banking.

Highlights:

High APY Free Checking
4.1
Rating: 4.1 stars out of 5
Bankrate Score
Info Icon

CDs

Rating: 4.3 stars out of 5
4.3 /5

Checking

Rating: 4.6 stars out of 5
4.6 /5

MMA

Rating: 4.2 stars out of 5
4.2 /5
4.1
Rating: 4.1 stars out of 5
Customer Score
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See all 48 consumer reviews Arrow Right Icon
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 7/14/2025
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Top-tier rate. FDIC Insured. No fees.
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 7/14/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
Bank logo
FDIC insurance eligibility through Program Banks Wells Fargo Bank, N.A. and or Sutton Bank, Members FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 7/14/2025
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Get up to 4% interest. Must be 18 or older, have a Cash App Card, and deposit at least $300 monthly into Cash App.

Overall

CFG Bank is a community bank that maintains three branches in Maryland, and some of its accounts can be opened online. It offers several deposit products, including CDs and a money market account that earn top-tier rates. Its free checking account allows customers to use more than 55,000 fee-free ATMs nationwide. Account holders can perform transactions online or through the mobile app.

Pros

  • Checkmark Icon

    CFG Bank offers solid to top-tier interest rates on some accounts.

  • Checkmark Icon

    The minimum deposit to open a CD is reasonable.

  • Checkmark Icon

    The CFG Mobile Money app gets OK to excellent reviews.

  • Checkmark Icon

    Customers can make person-to-person payments through Zelle.

Cons

  • CFG Bank has only three branches, all in Maryland.

CFG Bank banking products

CFG Bank CD

4.3
/5
Rating: 4.3 stars out of 5
SCORE BREAKDOWN
APY offering:
4.15%
Rating: 4 stars out of 5
4/5
Info Icon
Minimum deposit:
$500.00
Rating: 5 stars out of 5
5/5
Info Icon
Range of term lengths:
1 yr – 5 yrs
Rating: 3 stars out of 5
3/5
Info Icon
Early withdrawal penalty:
Great
Rating: 5 stars out of 5
5/5
Info Icon
Offer no-penalty or bump-up CDs:
Yes
Rating: 5 stars out of 5
5/5
Info Icon
Offer IRA CDs:
No
Rating: 0 stars out of 5
0/5
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Pros

  • Checkmark Icon

    Interest rates are very competitive.

  • Checkmark Icon

    Minimum deposit requirements are low.

Cons

  • CD availability is limited to four terms and with no specialty options.

Rate history for CFG Bank's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

CFG Bank
APY
APY
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National average APY
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How do we get this data?
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CFG Bank High Yield Money Market Account

4.2
/5
Rating: 4.2 stars out of 5
SCORE BREAKDOWN
APY offering:
4.32%
Rating: 5 stars out of 5
5/5
Info Icon
Minimum balance for APY:
$1,000.00
Rating: 4 stars out of 5
4/5
Info Icon
Monthly service fee:
$10.00
Rating: 3 stars out of 5
3/5
Info Icon
Minimum balance to avoid fee:
$1,000.00
Rating: 4 stars out of 5
4/5
Info Icon
Check writing:
No
Rating: 3 stars out of 5
3/5
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Debit/ATM access:
Subpar
Rating: 2 stars out of 5
2/5
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Pros

  • Checkmark Icon

    The APY is very competitive.

  • Checkmark Icon

    The account can be opened online or in a branch.

  • Checkmark Icon

    There are no limits on withdrawals made at a branch or ATM.

Cons

  • A $1,000 balance must be maintained to avoid a $10 monthly fee.

CFG Basic Checking Account

4.6
/5
Rating: 4.6 stars out of 5

Pros

  • Checkmark Icon

    Basic Checking requires a minimum deposit of just a penny to open.

  • Checkmark Icon

    There’s no monthly fee.

  • Checkmark Icon

    Customers have access to online, mobile and telephone banking.

  • Checkmark Icon

    There are no out-of-network ATM fees.

Cons

  • Out-of-network ATM rebates aren’t available.

  • The NSF fee is higher than the national average.

How CFG compares to other banks

Compare different account types offered by CFG bank. Annual percentage yields (APYs) shown were updated between July 7, 2025 and July 13, 2025.

Selected bank
CFG Bank CD
CFG Bank Logo
Member FDIC
Bankrate score
Rating: 4.3 stars out of 5
4.3
Info Icon
Most comparable
Quontic Bank CD
Quontic Bank Logo
Member FDIC
Bankrate score
Rating: 4 stars out of 5
4.0
Info Icon
Read review
Search for or select a bank:
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Bankrate score
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Read review
APY
Info Icon
4.15% 3.00%
Minimum deposit
$500.00 $500.00
Term
1 yr 1 yr
CFG Bank is a regional bank that maintains branches in Maryland, although some of its accounts can be opened online. CFG offers four terms of CDs, all of which pay top-notch rates. What’s more, they require a comparatively low minimum deposit of $500. Quontic Bank offers a good range of CDs, with terms spanning three to 60 months. All CDs earn a top-notch yield. Just $500 is needed to open a CD, which is good considering many banks require $1,000.
  • CFG Bank’s CD interest rates are highly competitive.
  • The minimum opening deposit for CDs is manageable.
  • All Quontic CDs feature top-notch yields.
  • Customers can open a CD for $500.
    N/A
  • Only four terms of CDs are offered.
  • No specialty CD options are available.
  • Consumers looking for odd-numbered terms will need to look elsewhere.
    N/A
APY offering:
4.15% - 1 yr
4/5
Info Icon
Minimum deposit:
$500.00
5/5
Info Icon
Range of term lengths:
1 yr - 5 yrs
3/5
Info Icon
Early withdrawal penalty:
Great
5/5
Info Icon
Offer no-penalty or bump-up CDs:
Yes
5/5
Info Icon
Offer IRA CDs:
No
0/5
Info Icon
Bankrate does not currently track additional product details for this bank.
Bankrate does not currently track additional product details for this bank.

Bank fees

Fee Charged?
Overdraft fee $25
Non-sufficient funds fee $25
Monthly maintenance fee $0-10
Out-of-network ATM fee None
Excessive transaction fee $10

Customer experience

CFG Bank has only three branches, all of them in Maryland. The bank also offers mobile and telephone banking that gives customers 24/7 access to their accounts. Customer phone support is available 9 a.m. to 5 p.m. ET, Monday through Friday.

CFG’s mobile app receives high marks on the Apple App store, but only scores OK on the Google Play store. The app includes digital banking features such as bill pay, account alerts and an ATM locator.

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The above images were last updated on August 20, 2024.

CFG Bank logo

We want to know what you think about CFG Bank

Do you have experience with CFG Bank? Let us know your thoughts.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

CFG Bank customer reviews

CFG Bank logo

CFG Bank has 48 reviews

Dive into community reviews below and see what others think about CFG Bank.

4.1 Star Icon
48 ratings
Info Icon
Score breakdown
5 stars
40%
4 stars
40%
3 stars
13%
2 stars
4%
1 star
4%
Score by category
Overall Rating 4.1 / 5
Competitiveness of APY 4.2 / 5
Amount of fees 4.3 / 5
Customer support 4.3 / 5
Website / Mobile app 4.3 / 5
Verified Badge Icon Bankrate methodology disclosure

In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.

Community Reviews

See what users like you are saying about CFG Bank.
Search Icon
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Anonymous account holder
March 6, 2025
I wish they had more investment options.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
February 28, 2025
Their mobile app notifications are instant and super helpful.
Score by category
Amount of fees 3 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
February 28, 2025
The deposits are reliable, the service is helpful, the digital experience is adequate, and overall convenience is good.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
February 28, 2025
The ability to schedule future payments is really helpful.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
February 27, 2025
Opening my account online was quick and easy, with no hassle.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
February 27, 2025
CFG has the best rates around. Their website is easy to use.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 4 / 5
Website / Mobile app 3 / 5
Anonymous account holder
February 27, 2025
I love how easy and fast it is to deposit money through their app; it really covers all my banking needs.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 3 / 5
Anonymous account holder
February 27, 2025
Using their app to deposit money is super easy and quick, just what I need for my banking.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 3 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
February 27, 2025
I've had a great time using their deposit features, particularly because the transfer options are super easy.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
February 27, 2025
Customer service at CFG Bank has been efficient whenever I had questions about deposits.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5