CFG Bank HYMM And CD's Down

mjms2023 | Jan 14, 2025 | 7 posts since 2023

CFG's High Yield Money Market has decreased to 4.28% with an APY of 4.37%. Their 1-year CD is now 4.15% APY, the 18-month CD is now 4.00% APY, the 36-month CD is now 3.75% APY and the 60-month CD is now 3.65% APY under their Personal Deposit Rates. Not unexpected, I guess given rate drops elsewhere.

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evol97 | Jan 14, 2025 | 51 posts since 2022

I am surprised the CD APY yield curve from 1 year to 5 year is inverted even though the treasury yield curve is positive. At some point, the CD yield curve of these banks needs to turn positive, similar to the treasury yield curve.

midas89 | Jan 14, 2025 | 1,021 posts since 2017

I have been with CFG with their HYMM account for years. I bet a lot of people like me took out most of our money once their rates kept falling lower than quite a few other banks, and just kept $1,000 in the account to keep the account open as a just-in-case for the future and to avoid the monthly fee, and I bet a lot are considering as I am today just to close the account entirely and be done with them. Decision, decisions.

quick12q | Jan 19, 2025 | 20 posts since 2015

I started a Business Money Mgr. account with them nearly a year ago and at 4.37% APY I am going to keep the bulk of my LLC funds with them, despite some balky features in how they operate.

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