CFBank (Ohio) Adds 13-month CD Special

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Deal Summary: 13-month CD Special, 2.40% APY, $5k minimum deposit. Money Market Savings Special, 2.00% APY, six month rate guarantee, $100k minimum deposit, new money.

Availability: Akron, Cincinnati, Cleveland, and Columbus metro areas and Columbia County, Ohio.

About two weeks ago, CFBank added three CD Specials, with the 13-month CD Special (2.40% APY) being the most competitive. The minimum opening deposit is $5k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.65%$5k-CFBank25 Month CD Special
2.50%$5k-CFBank13 Month CD Special
Rates as of September 22, 2018.

According to CSR, the Early Withdrawal Penalty is six months of interest.

Money Market Savings Special

CFBank is also offering a Money Market Savings Special (MMSS), which has an introductory 2.00% APY guaranteed for six months. The minimum balance to earn the introductory rate is $100k of new money.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00%$100k-CFBankMoney Market Savings Special - 6 Month Intro Rate
Rates as of September 22, 2018.

While the MMSS has no monthly service fee, there is a $10 monthly low balance fee should the balance fall below $5k. If the MMSS is closed within 90 days of opening, there is a $25 early closure penalty.

Availability

Headquartered in the Columbus suburb of Worthington, CFBank’s market area includes four of Ohio’s largest metropolitan areas (Akron, Cincinnati, Cleveland, and Columbus) and Columbia County.

Opening a CD Special or the Money Market Savings Special requires an in-person visit to any of six full-service Ohio branches located in Calcutta, Fairlawn, Glendale, Wellsville, Woodmere and Worhtington.

CFBank also has a Contact Us form to begin the application process.

Bank Overview

CFBank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 0.71% (excellent), based on March 31, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $50.46 million, an excellent annual growth rate of 15.62%. Please refer to our financial overview of CFBank (FDIC Certificate # 28263) for more details.

Founded in 1892 as Central Federal Savings and Loan Association, today’s CFBank describes itself as a “top-notch boutique commercial bank.” For the first 111 years not much changed for the original S&L, but starting in 2003 there were two organization type changes, three name changes, and the headquarters were moved twice. CFBank is currently the 38th largest bank in Ohio, with assets in excess of $529 million.

How the CD Special Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com requiring a similar minimum deposit and available within the market area, CFBank’s 13-month CD Special APY currently ranks third.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

How the Money Market Account Compares

When compared to the Money Market Accounts tracked by DepositAccounts.com that are available within the market area, CFBank's Money Market Savings Special APY currently ranks third, regardless of deposit requirements.

The above rates are accurate as of 6/20/2018.

Looking for the best Money Market Account rates, either nationwide or state specific? Please refer to our Money Market Account rates table or our Rates Map page.

Related Pages: Cleveland money market accounts, Columbus money market accounts, Youngstown money market accounts, money market accounts, 1-year CD rates

Comments

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