CFBank (Ohio) Ups Money Market Special To 2.30% APY

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Deal Summary: Money Market Savings Special, 2.30% APY ($25k min), 2.00% APY ($10k min), 12 month rate guarantee, new accounts/new money.

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

CFBank is again promoting its Money Market Savings Special (MMSS). Unlike the previous MMSS offered in June, the current special features two APYs, 2.30% and 2.00%, which are based on deposit levels of $25k and $10k, respectively. In addition, the rate guarantee period has doubled to 12 months. The guaranteed introductory rate only applies to new accounts opened with new money. If the balance should fall below the opening minimum, it will earn the standard Money Market rate of 0.01% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.30*%$25k-CFBankMoney Market Savings Special-12 Month Intro Rate ($25K)
OTHER TIERS: 0.01% Up to $25k
2.00*%$10k-CFBankMoney Market Savings Special-12 Month Intro Rate ($10K)
OTHER TIERS: 0.01% Up to $10k
Rates as of November 18, 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.

CD Specials

CFBank is also offering three CD Specials with so-so rates. The minimum opening deposit is $5k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.80%$5k-CFBank37 Month CD Special
2.65%$5k-CFBank25 Month CD Special
2.50%$5k-CFBank13 Month CD Special
Rates as of November 18, 2018.

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

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 0.67% (excellent), based on June 30, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $73.71 million, an excellent annual growth rate of 22.02%. 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 37th largest bank in Ohio, with assets in excess of $558 million.

How the Money Market Savings Special Compares

When compared to the Money Market Accounts tracked by DepositAccounts.com that are available within the Bank’s market area, CFBank's Money Market Savings Special APY currently ranks second.

Interest RateAccount NameCredit Union/Bank
2.50% APYMoney Market Savings Special, 3 month guarantee ($25k min/$500k max)Heartland Bank
2.30% APY Money Market Savings Special, 12 month guarantee ($25k min/no max)CFBank
2.26% APYOnline Money Market, no guarantee ($25k min/no max)Virtual Bank

The above rates are accurate as of 11/19/2018.

Looking for the best Money Market Account rates, either nationally available or in your state? 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

Comments
CFBank (Ohio) Adds 13-month CD Special
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.

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

Money Market Savings Special

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