The best one-year CD when you need to save up for something 12 months from now

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The best one-year CD when you need to save up for something 12 months from now.

CFG Bank is a community bank headquartered in Maryland and is a subsidiary of Capital Funding Group. It offers both business and personal banking products online and at its physical branches. Many of the best CDs are offered only online, so this is a unique perk.

Once your one-year CFG Community Bank CD term is up, you can withdraw the full amount or renew/change CDs.CFG Bank's CD offerings, including its one-year CD, stand out because they all offer the same low $500 minimum balance requirement. If you aren't committed to 12 months, consider CFG Bank's 13-month CD. Though it currently offers a lower 0.68% APY, account holders can take advantage of a one-time penalty-free withdrawal.

 

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