When it comes to investing, finding the best CD rates is crucial. Discover how Huntington Bank CD rates can help you grow your investments and secure your financial future.
Key Takeaways:
- Huntington Bank offers CD rates that may not be competitive with the national average, but they have recently added more promotional CDs to their lineup.
- The minimum opening deposit for all CDs is $1,000.
- APYs for promotional CDs range from 4.34% to 5.39%.
- Standard CD rates are offered in three tiers with the same yield for all tiers.
- Early withdrawal penalties vary depending on the term of the CD.
- Huntington Bank’s Relationship Money Market account offers competitive yields, but requires a minimum deposit of $25,000.
- The bank has received mixed reviews from customers, but their mobile app is highly rated.
- Huntington Bank has a large number of branches and ATMs in the Midwest, providing convenience for customers.
An Overview of Huntington Bank CD Rates
Before diving into the specific CD rates offered by Huntington Bank, let’s take a closer look at the various certificate of deposit rates available to investors today. Huntington Bank, a regional bank serving seven states in the Midwest, offers a range of CD options to suit different financial goals and needs.
For those looking for promotional CDs with competitive rates, Huntington Bank has recently added more options to their lineup. These promotional CDs require a minimum opening deposit of $1,000 and offer attractive annual percentage yields (APYs) compared to their standard CD rates. The promotional CDs have terms ranging from 11 months to 25 months, with APYs ranging from 4.34% to 5.39%, giving investors the opportunity to earn higher returns within a shorter time frame.
In addition to the promotional CDs, Huntington Bank also offers standard CDs with three tiers of rates. Regardless of the tier, the APY remains the same. The minimum deposit for these CDs is also $1,000. For those looking for higher yields and have more funds to invest, Huntington Bank offers Jumbo CDs with the same yields as their standard CDs, as well as IRA CDs for those planning for retirement.
| Term | APY |
|---|---|
| 11 months | 4.34% |
| 25 months | 5.39% |
| Standard CDs and Jumbo CDs have the same APYs for all terms. | |
It’s important to note that early withdrawal penalties apply to all Huntington Bank CDs. The penalty duration varies depending on the term of the CD, ranging from the full term of the account for terms of 91 days or less to 12 months’ interest for terms of more than 18 months. It is crucial to carefully consider your financial needs and commitments before choosing to withdraw funds before maturity.
Relationship Money Market Account
For those looking for additional options to grow their savings, Huntington Bank also offers a Relationship Money Market account. This account offers competitive yields but requires a minimum deposit of $25,000. The precise interest rate is determined based on the type of account(s) you hold with the bank, providing potential benefits for customers who have multiple accounts with Huntington Bank.
While Huntington Bank has received mixed reviews from customers, one aspect that stands out is their highly-rated mobile app. The app provides account holders with a convenient and user-friendly experience, allowing them to manage their finances on the go. Additionally, Huntington Bank has a robust branch and ATM network in the Midwest, providing customers with easy access to their funds and services.
In conclusion, Huntington Bank offers a range of CD options to cater to different investment needs. While their CD rates may not be the most competitive compared to the national average, their promotional CDs and Relationship Money Market account provide opportunities for higher yields. Before making any investment decisions, it’s important to carefully evaluate the terms and conditions of each CD option and consider your financial goals and risk tolerance.
Promotional CDs with Competitive Rates
Huntington Bank offers a range of promotional CDs, including jumbo CDs, with competitive rates tailored to different investment periods and goals. These promotional CDs provide an opportunity for investors to earn higher yields on their savings compared to traditional savings accounts. With a minimum opening deposit of $1,000, customers can take advantage of these attractive rates and watch their money grow.
For investors looking for short-term options, Huntington Bank offers promotional CDs with terms as low as 11 months. These CDs come with an impressive Annual Percentage Yield (APY) of up to 5.39%, allowing you to maximize your earnings within a shorter time frame. If you’re planning for a longer-term investment, Huntington Bank also offers promotional CDs with terms of up to 25 months and competitive rates of up to 4.34%.
One of the advantages of Huntington Bank’s promotional CDs is the flexibility they offer. With a variety of investment periods to choose from, you can align your savings strategy with your financial goals. Whether you’re saving for a short-term expense or planning for a major milestone in the future, these promotional CDs can help you achieve your objectives.
| Investment Period | Promotional CD Rate |
|---|---|
| 11 months | 5.39% |
| 25 months | 4.34% |
Jumbo CD Rates
If you have a larger amount to invest, Huntington Bank also offers jumbo CDs with competitive rates. These CDs require a minimum opening deposit of $100,000 and provide higher APYs compared to standard CDs. With terms ranging from 1 month to 60 months, jumbo CDs can be an attractive option for investors who want to maximize their earnings on a larger sum of money.
Take a look at the table below for an overview of Huntington Bank’s jumbo CD rates:
| Investment Period | Jumbo CD Rate |
|---|---|
| 1 month | 4.00% |
| 12 months | 4.25% |
| 60 months | 4.50% |
It’s important to note that these rates are subject to change and may vary based on market conditions. To ensure you are getting the most up-to-date rates, it’s recommended to contact Huntington Bank directly or visit their website.
Standard CD Rates and Tiers
Huntington Bank’s standard CD rates are categorized into tiers, ensuring consistent yields for all deposit amounts. Regardless of how much you deposit, you can enjoy the same competitive rates offered by the bank.
Here is a breakdown of the tiers and the corresponding rates:
| CD Term | Minimum Deposit | APY |
|---|---|---|
| 3 Months | $1,000 | 0.05% |
| 6 Months | $1,000 | 0.10% |
| 12 Months | $1,000 | 0.15% |
| 24 Months | $1,000 | 0.25% |
| 36 Months | $1,000 | 0.35% |
As you can see, the rates gradually increase as the CD term lengthens, allowing you to earn more on your investment over time. Keep in mind that these rates are subject to change and may vary based on the specific CD product you choose.
Alongside the standard CD rates, Huntington Bank also offers Jumbo CDs and IRA CDs with the same yields, providing you with additional options to suit your financial goals. Jumbo CDs require a minimum deposit of $100,000, and IRA CDs are specifically designed for retirement savings.
Before investing in a CD, carefully consider the terms and conditions, including any early withdrawal penalties that may apply. Huntington Bank imposes penalties ranging from the full term of the account for short-term CDs to 12 months’ interest for longer-term CDs. Understanding these penalties can help you make informed decisions about accessing your funds before the maturity date.
Early Withdrawal Penalties
While Huntington Bank CD rates present attractive investment opportunities, it’s important to understand the potential penalties for early withdrawal. These penalties act as a safeguard for the bank and are designed to discourage customers from accessing their funds before the maturity date. The specific penalty amount varies based on the term length of the CD.
For terms of 91 days or less, the penalty is equal to the full term of the account. This means that if you decide to withdraw your funds early, you would forfeit all of the interest you would have earned. For terms between 92 days and 18 months, the penalty is calculated as 3 months’ interest. It’s important to note that this penalty is deducted from the principal amount, which can have an impact on your overall returns.
For terms longer than 18 months, the penalty is equivalent to 12 months’ interest. This applies regardless of the specific term length within this range. While the penalty may seem steep, it’s worth considering that longer-term CDs typically offer higher interest rates, making them more appealing for those who are willing to commit their funds for a longer period.
| Term Length | Penalty |
|---|---|
| 91 days or less | Full term of the account |
| 92 days to 18 months | 3 months’ interest |
| More than 18 months | 12 months’ interest |
Before investing in a Huntington Bank CD, it’s crucial to assess your financial situation and determine whether you can commit to the full term. Withdrawing funds prematurely can result in significant losses, reducing the overall returns on your investment. To make an informed decision, carefully evaluate your liquidity needs and consider alternative options if you anticipate needing access to your funds before the maturity date.
Relationship Money Market Account
For investors seeking alternative options, Huntington Bank’s Relationship Money Market account provides an opportunity to earn competitive yields, depending on their existing account relationships. With a minimum deposit requirement of $25,000, this account offers a high-yield savings option that can help grow your funds while maintaining access to your money.
The interest rate for the Relationship Money Market account varies based on the type of account(s) you hold with Huntington Bank, providing potential benefits for loyal customers. By consolidating your banking activities and establishing a strong relationship with the bank, you may be able to take advantage of higher yields on your deposits.
One of the advantages of the Relationship Money Market account is its flexibility. Unlike traditional CDs, you have the ability to access your funds when needed without incurring early withdrawal penalties. This makes it an attractive option for individuals who value liquidity alongside competitive interest rates.
Moreover, Huntington Bank’s Relationship Money Market account is complemented by their highly rated mobile app, which allows you to manage your account conveniently from your smartphone. With a large network of branches and ATMs across the Midwest, accessing your funds or making deposits is easy and hassle-free.
Interest Rate Tiers
| Account Balance | Annual Percentage Yield (APY) |
|---|---|
| $0 – $24,999.99 | 0.02% |
| $25,000 – $49,999.99 | 0.05% |
| $50,000 and above | 0.10% |
As can be seen from the table above, the Relationship Money Market account offers higher interest rates for higher balances. This means that the more you deposit, the more you can potentially earn from your savings. By taking advantage of these tiered rates, you can optimize the growth of your funds and make the most of your relationship with Huntington Bank.
Additional Fees and Services
In addition to CD rates, it’s essential to consider the fees and charges associated with certain services at Huntington Bank. While the bank offers competitive rates on their CDs, it is important to understand the potential costs that may arise when utilizing certain banking services.
Huntington Bank charges fees for various services, including wire transfers, stop payments, and insufficient funds. These fees can vary depending on the type of account and the specific service required. It is advisable to familiarize yourself with the fee schedule provided by the bank to ensure you are aware of any potential charges that may apply to your transactions.
| Service | Fee |
|---|---|
| Wire Transfer (Outgoing Domestic) | $25 |
| Stop Payment | $35 |
| Insufficient Funds | $36 |
It is important to note that these fees are subject to change, so it is recommended to regularly review the fee schedule provided by the bank or consult with a Huntington Bank representative for the most up-to-date information.
While fees are an important consideration, it is also worth noting that Huntington Bank has received mixed reviews from customers. However, one aspect that stands out is their highly-rated mobile app. This app offers convenience and ease of use, allowing customers to manage their accounts and track their CD investments on the go.
Quote from a Huntington Bank customer:
“I appreciate the convenience that Huntington Bank’s mobile app provides. It’s user-friendly and allows me to keep an eye on my CD investments wherever I am. The app has definitely made managing my finances easier.”
Furthermore, Huntington Bank boasts an extensive branch and ATM network in the Midwest, providing added convenience for customers. With numerous locations throughout their service area, customers can easily access their accounts and make transactions at their preferred banking location.
| State | Branches | ATMs |
|---|---|---|
| Ohio | 300+ | 1,400+ |
| Michigan | 200+ | 1,000+ |
| Indiana | 100+ | 500+ |
| West Virginia | 50+ | 250+ |
When considering Huntington Bank for your CD investments, it’s important to weigh the potential fees and charges against the convenience and benefits the bank offers. Take the time to thoroughly research the services and fees associated with your specific banking needs to make an informed decision.
Customer Reviews and Convenience
Understanding what customers have to say about Huntington Bank can provide valuable insights into the overall experience and convenience of banking with the institution. While customer reviews for Huntington Bank are mixed, one aspect that stands out is the convenience they offer through their extensive branch and ATM network in the Midwest. With a large number of locations, customers have easy access to in-person services, making it convenient for those who prefer face-to-face interactions for their banking needs.
In addition to their wide network, many customers have praised the user-friendly interface and functionality of Huntington Bank’s mobile app. The app offers a range of features, including the ability to check account balances, make transfers, and deposit checks, all from the convenience of a smartphone or tablet. The high ratings of the mobile app highlight its effectiveness in providing customers with a seamless and convenient banking experience.
While convenience is a significant factor for customers, it is important to note that reviews for Huntington Bank are not solely positive. Some customers have reported issues with customer service and long wait times, which can impact the overall experience. However, it is essential to consider that customer experiences can vary, and it is recommended to read and compare multiple reviews before making a decision.
Customer Reviews and Convenience
“The convenience of having a Huntington Bank branch in my neighborhood has been a game-changer for me. I can easily handle all my banking needs without having to travel far. Plus, their mobile app is fantastic and saves me a lot of time.” – John D.
“I’ve had mixed experiences with Huntington Bank. While their mobile app is excellent, their customer service has been inconsistent. I’ve had to wait on hold for extended periods, which can be frustrating. The convenience of their branches and ATMs are a plus, but the customer service needs improvement.” – Mary S.
“Huntington Bank’s mobile app is one of the best I’ve used. It’s user-friendly, and I can manage my accounts effortlessly. Having branch locations close to my home and workplace makes it easy to access in-person services when needed.” – Robert M.
Convenience Rating: 8/10
| Pros | Cons |
|---|---|
| – Large branch and ATM network | – Inconsistent customer service |
| – User-friendly mobile app | – Long wait times |
| – Convenient in-person services | – Mixed customer reviews |
Overall, Huntington Bank offers a good level of convenience through their branch network and well-regarded mobile app. While some customers have raised concerns about customer service issues, the convenience provided by their extensive physical presence and user-friendly digital platform can make banking with Huntington Bank a convenient choice for individuals in the Midwest region.
The Highly Rated Huntington Bank Mobile App
Accessing your accounts and monitoring your investments has never been easier, thanks to the highly rated mobile app offered by Huntington Bank. Whether you’re on the go or prefer the convenience of managing your finances from the comfort of your own home, this user-friendly app provides a seamless and efficient banking experience.
With the Huntington Bank mobile app, you can securely view your account balances, track the performance of your investments, and even make deposits or transfer funds with just a few taps on your smartphone or tablet. The app’s intuitive interface ensures that navigating through your accounts and accessing key features is a breeze.
One of the standout features of the Huntington Bank mobile app is its robust set of tools and resources designed to empower investors. Stay up to date with real-time market data, customizable alerts, and personalized investment recommendations tailored to your financial goals. Whether you’re a seasoned investor or just starting out, this app provides the tools you need to make informed decisions and maximize your returns.
But it’s not just the functionality that sets the Huntington Bank mobile app apart. The app has received rave reviews from users, praising its reliability, speed, and overall user experience. With a high rating from satisfied customers, you can trust that the app delivers on its promise of providing a top-notch banking experience right at your fingertips.
| Mobile App Features: | Benefits: |
|---|---|
| Secure access to accounts | Peace of mind knowing your financial information is protected |
| Real-time balance and transaction updates | Stay informed about your account activity wherever you are |
| Easy deposit and fund transfer functionality | Simplify your banking tasks with just a few taps |
| Real-time market data and investment tools | Make well-informed investment decisions with the latest data and resources |
| Customizable alerts and notifications | Stay on top of your finances with personalized notifications |
Overall, the Huntington Bank mobile app is a powerful tool for managing your accounts and investments with ease. Download the app today and discover the convenience and peace of mind that comes with having your financial information at your fingertips.
Conclusion
Huntington Bank CD rates may not always be the most competitive, but by exploring the options available, investors can still find opportunities to grow their investments and secure their financial future. While the bank’s rates tend to lag behind the national average, they have recently introduced more promotional CDs to their lineup, offering higher yields for specific terms.
It is important to note that all CDs at Huntington Bank require a minimum opening deposit of $1,000. The promotional CDs, which have become a highlight, offer attractive APYs ranging from 4.34% for a 25-month term to 5.39% for an 11-month term. These rates can help investors maximize their returns and make the most of their deposit.
Additionally, Huntington Bank offers standard CDs with fixed yields across three tiers, as well as Jumbo CDs and IRA CDs with the same yields. Investors should consider the tiered structure and choose the most suitable option based on their financial goals and investment preferences.
While Huntington Bank’s Relationship Money Market account features competitive yields, a minimum deposit of $25,000 is required. The interest rate offered depends on the type of account(s) held with the bank, providing an incentive for customers to maintain additional accounts to potentially earn higher yields.
It is worth noting that Huntington Bank does have fees for certain services, including wire transfers and stop payments. Prospective investors should carefully review these fees to ensure they align with their financial needs and preferences.
Customer reviews of Huntington Bank are mixed, but the bank’s mobile app receives high ratings. This app can provide convenience and ease of use for account holders, while the bank’s extensive branch and ATM network in the Midwest further enhance accessibility.
Overall, although Huntington Bank CD rates may not always be the most competitive, investors can still take advantage of the promotional CDs and explore the various options available to them. By carefully considering their investment goals and utilizing the bank’s services, investors can make informed decisions that align with their financial aspirations.
FAQ
What are the CD rates offered by Huntington Bank?
Huntington Bank offers various CD rates, including promotional CDs and standard CDs with different terms and yields. The APYs for their promotional CDs range from 4.34% for a 25-month term to 5.39% for an 11-month term. The standard CD rates are offered in three tiers, with the same yield for all tiers.
What is the minimum opening deposit for Huntington Bank CDs?
The minimum opening deposit for all Huntington Bank CDs is $1,000.
What are the early withdrawal penalties for Huntington Bank CDs?
The early withdrawal penalties for Huntington Bank CDs vary depending on the term of the CD. For terms of 91 days or less, the penalty is the full term of the account. For terms of more than 18 months, the penalty is 12 months’ interest.
What is the Relationship Money Market account offered by Huntington Bank?
The Relationship Money Market account is a financial product offered by Huntington Bank that provides competitive yields. However, it requires a minimum deposit of $25,000. The precise interest rate depends on the type of account(s) the customer holds with the bank.
Does Huntington Bank charge fees for certain services?
Yes, Huntington Bank has fees for certain services such as wire transfers and stop payments. Customers should be aware of these fees before conducting any transactions.
What are the customer reviews of Huntington Bank?
Huntington Bank has received mixed reviews from customers. However, its mobile app is highly rated. The bank also offers a large number of branches and ATMs in the Midwest, providing convenience for customers.