Huntington CD Rates: January 2025
Updated December 27, 2024 at 3:00 am
If you’re searching for a place to stash your cash for short-term savings while still earning a competitive rate of return, a certificate of deposit (CD) can be an attractive option.
Huntington Bank offers CDs with term lengths ranging from one to 72 months, though rates for most terms are far lower than what you’ll find elsewhere. Keep reading to learn more about the ins and outs of Huntington’s certificate of deposits (including current rates), their pros and cons, and how to open a Huntington CD with the longstanding bank.
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We assessed the following five key factors to help you choose the best account for your personal finance needs.
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- Interest-earning potential
Vault’s Viewpoint on Huntington Bank CD Rates
- Huntington Bank offers CDs with varying CD terms.
- The highest APYs are available through its promotional rates, which are available in 7- and 11-month terms.
- It’s likely not worth it to park your funds in one of Huntington’s standard rate CDs, as they’re far below what’s considered a competitive rate.
Overview of Huntington CDs
The Huntington National Bank, which is based in Columbus, Ohio, and has over 1,000 physical branches across 11 states, offers CDs in a wide range of terms—from one month to 72 months. What it offers in variety and range of CDs, however, it lacks in competitive rates. The standard APY for the majority of its standard rate CDs falls well below the national average rates.
The best CD rates at Huntington are reserved for its 7-month and 11-month promotional CDs, which currently have rates above 3%. You’ll need to deposit a minimum of $1,000 to get started.
As it goes with CDs, if you need to withdraw funds before the maturity date, you’ll get hit with an early withdrawal penalty that could cost you as much as the full amount of interest you’ve earned.
Besides the allure of its promotional rate CDs, Huntington doesn’t offer a bump-up CD or no-penalty CD. If you’re looking for more flexible choices that can help you earn more on interest or spare you from getting hit with a penalty, you might fare better looking elsewhere.
| CD Term (Standard) | APY | Minimum Deposit |
| 1 month | 0.50% | $1,000 |
| 3 months | 0.50% | $1,000 |
| 6 months | 0.50% | $1,000 |
| 9 months | 0.50% | $1,000 |
| 12 months | 0.50% | $1,000 |
| 18 months | 0.50% | $1,000 |
| 24 months | 0.50% | $1,000 |
| 36 months | 0.50% | $1,000 |
| 48 months | 0.50% | $1,000 |
| 60 months | 0.50% | $1,000 |
| 72 months | 0.50% | $1,000 |
| CD Term (Promotional) | APY | Minimum Deposit |
| 7 months | 3.05% | $1,000 |
| 11 months | 3.05% | $1,000 |
Pros and Cons of a Huntington CD
Pros
- Variety of term lengths: Huntington CDs come in a variety of term lengths that range from one to 72 months.
- Competitive interest rate for promotional terms: The highest APYs are reserved for Huntington’s promotional CDs. If you feel comfortable locking in your money for a brief stint, this could be a good choice.
- Lower minimum opening deposits: While lower required minimums do exist, Huntington’s CDs are on the lower end of the spectrum.
Cons
- Low interest rates: Besides its two promotional CDs, Huntington CD rates are pretty low compared to its competitors.
- Restricted membership: To open an account with Huntington, you must reside in Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia or Wisconsin. Additionally, you can only open a Huntington CD by visiting a physical branch at this time.
- High early withdrawal penalties: While most CDs have penalties for pulling funds before the maturity date, Huntington’s early withdrawal fees are on the higher side.
How Much Can You Earn With a Huntington CD?
How much your money can grow with a Huntington CD hinges on a handful of variables: the interest rate, the CD term and the amount saved. As you might imagine, the higher the interest rate, the more you can earn. That, coupled with a slightly longer CD term and a sizable chunk deposited, could boost your earnings.
It’s a good idea to watch which CD terms offer the most attractive rates. In the case of Huntington, the highest rates are with its two promotional CDs—at 7 months and 11 months.
To make the most of these two CDs, you can ladder your CDs. In other words, you can divvy your funds among the 7-month and 11-month CDs. That way, you can access your funds at staggered dates and ensure you’re netting the most in interest.
To illustrate how much you could earn on a certificate of deposit, let’s look at roughly how much you can rake in based on a $25,000 deposit. The interest is compounded daily.
| CD Term | APY | Estimated Earnings |
| 1 month | 0.50% | $10.39 |
| 3 months | 0.50% | $31.19 |
| 6 months | 0.50% | $62.42 |
| 7 months* | 3.05% | $740 |
| 9 months | 0.50% | $93.69 |
| 11 months* | 3.05% | $993 |
| 12 months | 0.50% | $125.00 |
| 18 months | 0.50% | $187.73 |
| 24 months | 0.50% | $250.62 |
| 36 months | 0.50% | $376.88 |
| 48 months | 0.50% | $503.76 |
| 60 months | 0.50% | $631.28 |
| 72 months | 0.50% | $759.44 |
How to Open a CD With Huntington
Opening a CD with Huntington typically involves the same process as opening their savings and money market accounts. Currently, however, Huntington CDs can only be opened at branch locations. With that said, you’ll still need to follow the process below and gather the relevant information needed.
- Select your CD of choice. As mentioned, Huntington offers CDs ranging from one month to six years. The two promotional CDs are the sweet spot and feature the highest interest rates available.
- Submit your personal information. This typically includes the basics such as your name, address, date of birth, Social Security number and phone. Huntington Bank might request other specifics, such as your employment status and annual income.
- Fund your account. You’ll need to deposit a minimum of $1,000 to get started. Currently, Huntington doesn’t offer higher rates for higher deposit amounts—even on its jumbo fixed-rate CDs.
- Review your account opening documents. It’s also worthwhile to pore over these documents, which include an overview of your account, such as the terms, rates, minimum required deposit, and penalties. It also lays out specifics on your options at renewal.
Alternatives to a CD With Huntington
If you’re not sold on opening a CD with Huntington Bank, here are some other options that have a $1,000 minimum opening requirement to consider:
Alliant Credit Union
Like Huntington, CDs with Alliant Credit Union require a minimum opening deposit of $1,000. However, Alliant’s current APYs are far more competitive than Huntington’s.
As Alliant is a credit union, you’re eligible for membership by belonging to an affiliated organization or business. Another way you can apply to be a credit union member is by signing up to be an Alliant Credit Union Foundation digital inclusion advocate. Although you can live anywhere in the U.S. and be eligible to open an account, Alliant doesn’t have physical branch locations.
TAB Bank
TAB Bank only offers six terms for its CDs but rates are overall far more competitive than Huntington Bank. TAB’s early withdrawal penalties are what you’d typically find at other banks: 90 days interest on CDs with maturity dates of 12 months or less or 180 days interest on CDs longer than 12 months.
Bask Bank
Another bank that requires a $1,000 minimum to open a CD is Bask Bank, which is an online-only bank with competitive interest rates for all six CD terms. Bask Bank currently has four CD terms with rates over 4%, which is higher than what many other banks currently offer. As Bask is an online bank, you’ll need to open an account entirely through its website.
Frequently Asked Questions
What Is the Penalty for Withdrawing From a Huntington CD Early?
The penalty for early withdrawal from a Huntington CD depends on the length of the CD. If the CD term is 91 days or less, the interest owed is the entire account term. If it’s 92 days to one year, the penalty is three months of interest. For CDs with maturity dates that are over a year to 18 months, the penalty is six months’ worth of interest, while the penalty for CDs over 18 months old is 12 months’ interest.
Is Huntington Bank in All 50 States?
Huntington Bank operates in 11 states: Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia and Wisconsin. To open an account, you’ll need to reside in one of these states.
What Bank Took Over Huntington?
In June 2021, Huntington Bancshares Incorporated merged with TCF Financial Corporation (TCF). Huntington continues to operate under the same name and is still headquartered in Columbus, Ohio.
Editorial Disclosure: We may receive a commission from affiliate partner links included on our site. However, this does not impact our staffs’ opinions or assessments.
