Investors who are looking for an all-in-all option, i.e. savings while earning commendable interest, should give a go to Certificate of Deposit (CD) rates. There are versatile institutes available that financially deal with this requirement.

Huntington is one such institute. It comprises CDs that are time-bound deposit accounts and typically provide higher interest rates than regular savings accounts. This step is credible and makes the CDs a popular choice among individuals seeking a low-risk investment option. 

Let’s grab the basic details and general overview of Huntington CD Rates in the section below;

Huntington CD Rates Offers 

Following are some of the most considerable CD offers at Huntington.

Short-Term High-Yield CD

  • Term Length: 6 months
  • APY: 4.55%
  • Minimum Deposit: $1,000

Key Considerations:

  • Ideal for investors looking for a short-term commitment with a relatively high return.
  • Suitable for those expecting to need access to their funds shortly but wanting to earn more than a traditional savings account.
Higher interest rate than savings accounts for short termEarly withdrawal penalties may offset interest earnings
Ideal for short-term financial goalsLower APY compared to longer-term CDs

 Mid-Term Growth CD

  • Term Length: 12 months
  • APY: 4.75%
  • Minimum Deposit: $500

Key Considerations:

  • Offers a balance between higher interest rates and manageable term length.
  • Best for individuals who can afford to set aside funds for a year, aiming for a higher yield without a long-term lock-in.
Balanced term length offers higher APYEarly withdrawal penalties can be significant
Access to funds relatively soonMay miss out on higher rates if interest rates rise

 Long-Term Maximum Yield CD

  • Term Length: 24 months
  • APY: 5.00%
  • Minimum Deposit: $2,500

Key Considerations:

  • Maximizes interest earnings for those who can commit their funds for a longer period.
  • Suitable for savers with a stable financial situation, looking to boost their savings growth with a higher APY.
Highest APY for maximum earningsLong commitment period with no access to funds
Best option for long-term savings growthHigh penalty for early withdrawal

Collective Comparison CD Rates in Table

For an even more comprehensive overview, here are the most concerned details provided in the section below;

CD TypeTerm LengthAPYMinimum DepositEarly Withdrawal PenaltyProsCons
Short-Term High-Yield CD6 months4.55%$1,0003 months of interestHigher rate for short term, ideal for short-term goals, quick ROIPenalties may offset earnings, lower APY than longer terms, limited growth
Mid-Term Growth CD12 months4.75%$5006 months of interestHigher APY, balanced term, more interest than short-term CDsSignificant penalties, risk of missing higher rates, higher minimum deposit
Long-Term Maximum Yield CD24 months5.00%$2,50012 months of interestHighest APY, best for long-term growth, compounds over longer timeLong commitment, high penalty for early withdrawal, rate lock-in risk

Are Huntington CD Rates Competitive?

Huntington CD rates are often seen as quite competitive, in comparison to other national and online financial options. Different Financial institutions like Huntington tend to offer such rates that attract savers and aim to strike a balance between competitive interest earnings for their customers and their lending capacities. 

On the whole, the attractiveness of these rates can depend on several factors, including;

  • Overall economic environment
  • Federal Reserve policies
  • How aggressive the bank is in attracting new deposits

In an aspect of rising interest rates, Huntington Bank, like other banks, considerably offers more attractive rates that concisely keep pace with market trends.

How do Huntington CD Rates Compare?

Other than all these perspectives, while comparing Huntington CD rates to those of other banks and financial institutions, it is important to consider not just the APY but also the terms and conditions, such as;

  • Minimum deposit requirements
  • Early withdrawal penalties

Huntington’s rates are often in line with or slightly better than those of its competitors because it tends to value the convenience and service of banking with a well-established consideration. 

Furthermore, the bank’s CD rates are designed to manage a range of customer needs that vary from short-term savings goals to long-term investments.

How Much You Can Earn With Huntington CD Rates?

The potential earnings from Huntington CD rates depend on the term length, APY, and the amount invested.

On the other hand, the specific rates and terms can vary, here is the basic overview of potential earnings stated below;

CD TypeTerm LengthAPYMinimum DepositPotential Earnings
Short-Term High-Yield CD6 months4.55%$1,000$22.75
Mid-Term Growth CD12 months4.75%$1,000$47.50
Long-Term Maximum Yield CD24 months5.00%$1,000$100.00

 Overview of Huntington Bank

Huntington Bank, officially known as Huntington Bancshares Incorporated, is a prominent American bank holding company founded in 1866. 

With its headquarters in Columbus, Ohio, Huntington has grown substantially over the years, showcasing a robust portfolio of assets that place it among the larger banking institutions in the United States. 

Moreover, Huntington boasted hundreds of billions in assets, offering a wide range of financial services including personal banking, business banking, mortgage services, and wealth management.

The bank operates a network of branches and ATMs primarily in the Midwest and Southeast, serving customers across multiple states with convenience and reliability. Huntington is known for its customer-focused approach, innovative banking technology, and commitment to community engagement.

Locations of Huntington Bank

Huntington Bank’s branches and ATMs are strategically located across several states, mainly in the Midwest and Southeast United States, including;

Frequently Asked Questions

 How can I open a Huntington Bank account?

You can open an account online through their website, via the Huntington Mobile app, or by visiting a local branch.

What types of accounts does Huntington offer?

Huntington offers a variety of accounts including checking, savings, money market accounts, CDs, and investment accounts, catering to both personal and business banking needs.

Does Huntington Bank offer online and mobile banking?

Yes, Huntington provides comprehensive online and mobile banking services, allowing customers to manage their accounts, pay bills, transfer funds, and deposit checks remotely.

Are there any fees for using Huntington ATMs?

Huntington customers can use Huntington ATMs free of charge. Fees may apply for using non-Huntington ATMs, although certain account types offer fee waivers.