Huntington Bank CD Rates Today
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Huntington Bank offers some good CD rates on its promotional CDs, although they aren’t strong enough as the best CD rates. If you live in a state that has Huntington Bank and want to open a CD with a non-standard term length, Huntington Bank might be a good choice for you.
We’ve provided a list of Huntington Bank’s CD rates today to help you see what CDs might be a good choice for you.
Huntington Bank CD Rates Today
Huntington Bank (Member FDIC) offers various financial products, including two types of CDs — fixed rate and jumbo fixed rate.
CD term lengths range from one week to six years. But unless you choose a promotional term with a high rate, you’ll be stuck earning 0.50% APY (Annual Percentage Yield). In that case, you’re better off opening a CD at one of our best banks.
The rates at Huntington Bank are similar for both regular and jumbo CDs. The most important factor is whether you choose a term that pays a standard rate or one that pays a promotional rate. Promotional rates are only available for a handful of term lengths, but they can increase the APY significantly.
Here’s everything you need to know about Huntington Bank CD rates.
Huntington Bank Fixed CD Rates
The Huntington Bank Fixed Rate CDs pay 0.50% to 5.13% APY.
You must deposit at least $1,000, but the rates are the same regardless of your total balance.
There are two types of interest rates on fixed CDs: promotional and standard. Promotional rates apply to 7-month and 11-month CD terms. Other term lengths qualify for standard rates of 0.50% APY.
Although Huntington CD rates are the same in many places, rates may vary by region. The rates below are for Columbus, Ohio, which is a popular city for the bank.
Huntington Bank Promotional Fixed CD Rates
Huntington Bank Standard Fixed CD Rates
Huntington Bank Jumbo Fixed CD Rates
Huntington Bank Jumbo Fixed Rate CDs pay 0.50% to 5.13% APY. Whether you open a CD with a promotional or standard rate will impact how much you earn. The minimum deposit is $100,000, and the rates do not change based on the amount you deposit.
The Jumbo CD terms are measured in days — converted to years, the terms go up to five years. The current promotional rates apply to 215-day and 335-day terms. If you opt for a CD term that does not offer a promotional rate, you can expect to earn the standard rates of 0.05% or 0.10% APY.
Rates may vary by region, and the below rates are for Columbus, Ohio.
Huntington Bank Promotional Jumbo Fixed CD Rates
Huntington Bank Standard Jumbo Fixed CD Rates
Huntington Bank CD Pros and Cons
Huntington Bank CD Pros
- Promotional CD rates are high
- Standard minimum deposit amounts
- Interest compounds daily
Huntington Bank CD Cons
- Standard CD rates are significantly lower than the national average
- Only a handful of term lengths qualify for promotional rates
- Accounts are only available for residents of Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, and Wisconsin
What Influences Huntington Bank CD Rates
Market Fluctuations
Like all banks and credit unions, Huntington Bank has to respond to the market when setting its CD rates. If CD rates are climbing, Huntington Bank will probably have to raise its rates in order to remain competitive; if CD rates are falling, it doesn’t need to give as high an APY to stay viable.
Fed Actions
If you’re wondering what the Federal Reserve is, also known as “the Fed,” it’s the central banking system of the U.S. The Fed holds several meetings throughout the year where it announces if it’s changing its rates. Banks and credit unions will change their rates in response to (and sometimes in preparation of) those rate changes.
CD Term Length
The term length of a CD informs what rate you can get on it. Right now, short-term CD rates are higher than long-term CD rates because banks and credit unions expect the Fed to announce rate drops this year. This is also why Huntington Bank’s 11-month CD offers a lower rate than its 7-month CD.
Should You Invest in a Huntington Bank CD?
A Huntington Bank CD might be a good choice for you if you’re interested in a CD with a non-standard term length, especially if you’re looking for a 7-month CD or an 11-month CD. Otherwise, you might be better going with another CD with a higher rate; for example, the best jumbo CDs offer interest rates several percentage points better than Huntington Bank’s standard jumbo CDs do.
Huntington also doesn’t offer no-penalty CDs or bump-rate CDs; if you’re interested in not having to pay Huntington Bank CD early withdrawal penalties on your CD, you’ll have to go to another bank.
Huntington Bank CD Alternatives
Huntington Bank CDs vs. Chase CDs
Similar to Huntington Bank, Chase CD rates vary drastically, ranging from 0.01% to 4.75% (vary by location) APY. But unlike Huntington, Chase’s rates vary depending on how much you deposit. There are only a handful of options with competitive rates, and even then, Huntington’s rates are generally higher.
To earn Chase’s highest rate, you must deposit at least $100,000 and link it to a Chase checking account. In comparison, Huntington’s minimum deposit of $1,000 is much more accessible, and there aren’t any Huntington Bank relationship CD rates that require you to link a checking account.
Huntington Bank CDs vs. PNC Bank CDs
Like Huntington Bank, PNC doesn’t have locations in every state. You can open a CD online if you live in an area without branches, but your options are more limited.
PNC CD rates range from 0.01% to 5.15% (vary by location) APY. The best offer from PNC is on a promotional CD (the term with the highest rate depends on where you live), but you must deposit at least $100,000 to qualify. Other than that, you can usually expect to earn 2% or less. With Huntington Bank, you can earn over 5% with a minimum deposit of $1,000.
Why You Should Trust Us: How We Reviewed Huntington Bank CDs
We used Business Insider’s certificate of deposit methodology to review Huntington Bank CDs.
Business Insider assesses the bank’s mobile app, ethics, and customer service based on reviews and professional ratings from sites like the Better Business Bureau. We also examine interest rates, minimum deposits, available CD terms, and early withdrawal penalties. Each category receives a rating from 0 to 5, and then we average the scores to assign a final score out of 5.
Huntington Bank CD Rates FAQs
Huntington Bank’s promotional CD rates are competitive, but its standard CDs offer low rates.
Like most banks, Huntington Bank sometimes updates its CD rates weekly or even daily. However, if you already have a CD with the bank, your rate won’t change.
Huntington Bank offers two promotional CDs with non-standard term lengths of 7 and 11 months. It also offers CDs with term lengths both shorter and longer than what banks generally offer, as well as jumbo CDs.
Yes; Huntington Bank is FDIC-insured, which means that your money is safe up to $250,000 per depositor.
No, you can open a Huntington Bank CD without having another banking product with Huntington.
