CFG Bank Review 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 CheckingHighlights:
CDs
Checking
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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
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CFG Bank offers solid to top-tier interest rates on some accounts.
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The minimum deposit to open a CD is reasonable.
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The CFG Mobile Money app gets OK to excellent reviews.
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Customers can make person-to-person payments through Zelle.
Cons
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CFG Bank has only three branches, all in Maryland.
CFG Bank banking products
CFG Bank CD
Pros
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Interest rates are very competitive.
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Minimum deposit requirements are low.
Cons
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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 High Yield Money Market Account
Pros
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The APY is very competitive.
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The account can be opened online or in a branch.
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There are no limits on withdrawals made at a branch or ATM.
Cons
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A $1,000 balance must be maintained to avoid a $10 monthly fee.
CFG Basic Checking Account
Pros
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Basic Checking requires a minimum deposit of just a penny to open.
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There’s no monthly fee.
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Customers have access to online, mobile and telephone banking.
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There are no out-of-network ATM fees.
Cons
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Out-of-network ATM rebates aren’t available.
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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.
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Selected bank
CFG Bank CD
Bankrate score
4.3
Bankrate CD rating = 4.3/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
Most comparable
Quontic Bank CD
Bankrate score
4.0
Bankrate CD rating = 4.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between July 7, 2025 and July 13, 2025.
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| 4.15% | 3.00% | |
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Minimum deposit
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| $500.00 | $500.00 | |
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Term
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| 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. | |
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N/A
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N/A
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APY offering:
4.15% - 1 yr
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.
Minimum deposit:
$500.00
5/5
The minimum deposit amount a financial institution requires in order to open a CD.
Range of term lengths:
1 yr - 5 yrs
3/5
A designated amount of time that funds must be held within a CD.
Early withdrawal penalty:
Great
5/5
A penalty incurred when funds have been withdrawn from a CD before its maturity date.
Offer no-penalty or bump-up CDs:
Yes
5/5
A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.
Offer IRA CDs:
No
0/5
An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.
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Bankrate does not currently track additional product details for this bank.
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Bankrate does not currently track additional product details for this bank.
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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.
The above images were last updated on August 20, 2024.
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Review methodology
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 has 48 reviews
Dive into community reviews below and see what others think about CFG Bank.
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.
