Huntington Bank certificates of deposit (CDs) stand out when it comes to their promotional and jumbo rate products. But if you’re looking for more term options through their standard rates, you’ll likely be disappointed by their low rates.
Annual percentage yields (APYs) and account details are accurate as of August 21, 2023. Rates are based on the zip code 44136.
Overview of Huntington Bank CDs
Huntington Bank offers the following rates/certificates of deposit:
- Promotional Rates offer much higher APYs than standard rates, but the terms are on the shorter side and there are fewer options to choose from. (Only 7, 11, 17 and 25-month options are available). The 11-month term comes with a 5.39% APY, which is among the best CD rates available today. The downside is that you only get to lock in that rate for less than a year.
- Standard Rates come with low interest rates, with the highest being just 0.10% APY. The advantage is that terms range anywhere between one and 72 months, making it easy to create a CD ladder based on your own schedule. But you won’t move the needle on your balance very much with such low APYs.
- Fixed-Rate CDs are for deposits less than $100,000. Promotional rates are offered on four out of the 15 terms offered for this CD.
- Jumbo Fixed-Rate CDs are designed for large deposits of $100,000 or more. Huntington Bank currently has one of the best jumbo CD rates, with the highest promotional rate at 5.39% APY for a 335-day term.
How much can you earn with Huntington Bank CDs
Huntington Bank offers traditional fixed-rate CD terms as short as one month and as long as 72 months. Here’s how much you can expect to earn on $10,000 in savings.
How Huntington Bank CD rates compare
Many of Huntington Bank’s promotional rates are well above the national average. While the term options to receive promotional rates are limited, they’re worth checking out, especially when comparing one-year CD rates or less.
Huntington Bank doesn’t offer promotional rates on CDs beyond 25-month terms and their standard rates are below average. It’s worth looking at other bank or credit union CD rates in order to lock in a long-term rate beyond two years or so.
How to open a Huntington Bank CD
Huntington Bank CDs can’t be opened online and must be opened in a branch. There are more than 1,000 branches spread across the following 11 states:
- Ohio
- Colorado
- Florida
- Illinois
- Indiana
- Kentucky
- Michigan
- Minnesota
- Pennsylvania
- West Virginia
- Wisconsin
If you’re located in one of those states, you can search for the branch closest to you on the Huntington Bank website.
To open the account at the branch you will likely need your government-issued ID and the information of the account from which you are funding the CD.
Alternatives to CDs at Huntington Bank
In addition to CDs, Huntington Bank does offer an attractive Relationship Money Market Account (MMA). Earn between a 4.54% APY to 4.70% APY on balances between $25,000.00 to $2,000,000.99. (You’ll receive a paltry 0.00% APY on balances below $25,000 and a 0.25% APY on balances of $2,000,001 and higher).
Huntington Bank also offers two savings accounts. The Relationship Savings account connects to a checking account to offer a no-fee option with 0.02% APY. It’s low, but free when you connect accounts. The Premier Savings account offers another low interest rate of just 0.01% APY.
Compare all of your options, including minimum deposit requirements, using a CD calculator to determine how much interest you could earn with different account terms and types.
About Huntington Bank
Huntington Bank is ideal for individuals who live in the 11 states served by this bank. Their promotional rates for both traditional CDs and jumbo CDs are above average. Plus, you can lock in terms between 7 and 25 months.
However, if you’re looking for even longer terms, you’ll be stuck with Huntington Bank’s standard CD rates, which are exceptionally low. Consider other options, like the best 10-year CD rates. Alternatively, for even shorter terms than Huntington Bank’s offerings, you can explore three-month CD rates as well.
Frequently asked questions (FAQs)
It depends on the term and type of CD. Traditional CDs with a minimum $1,000 deposit have a promotional rate ranging between 4.34% APY and 5.39% APY. Jumbo CDs that require a $100,000 deposit come with the same promotional rate range. Standard rates on both CD accounts, however, only go as high as 0.10% APY.
No, you must live in one of 11 states in order to bank with Huntington Bank. These include Ohio, Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, West Virginia and Wisconsin.
Yes, online banking is available with Huntington Bank. However, some products, including CDs, require that you visit a branch in person.
