Managing Money In A Crisis
Weekly tips sent straight to your inbox
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Huntington CD review
Offers a wide range of terms, but rates are borderline negligible.
Huntington offers a wide range of CD terms, giving you the flexibility to choose a length that’s right for you. But rates are much lower than the competition and you must visit a local branch to get started.
0.05%
1-year APY
0.1%
3-year APY
0.1%
5-year APY
Details
| Minimum deposit to open | $1,000 |
|---|---|
| Interest compounding | Daily |
| 3-month APY | 0.01% |
| 6-month APY | 0.05% |
| 9-month APY | 0.05% |
| 1-year APY | 0.05% |
| 18-month APY | 0.05% |
| 2-year APY | 0.1% |
| 3-year APY | 0.1% |
| 4-year APY | 0.1% |
| 5-year APY | 0.1% |
| Early withdrawal penalty | 1% for terms of 12+ months 2% for terms of 13 to 24 months 3% for terms of 25 + months |
Expert review
Review by
Cassidy Horton
cassidy.horton@findercrew.comCassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.
Expert review
A Huntington CD may be a good option if you live within this bank’s 11-state service area and are looking for flexible term options. Even though it’s a regional bank, it has 24/7 customer support and no monthly fees. But the minimum deposits are high and the APYs are low. If a high interest rate is what you’re after, you may want to keep looking.
Benefits of a Huntington CD
Here are the perks you’ll get when you open a Huntington CD:
- No monthly fee. The only time you’ll pay a fee is if you need to access your money early.
- Daily compound interest. When you earn interest on yesterday’s interest, your account balance grows faster than it would with other compounding methods.
- Customer service. Huntington offers 24/7 customer service by phone.
- Selection of term options. Choose from several term options ranging from one month to 72 months.
What to watch out for
There are several potential drawbacks to watch out for before opening a Huntington CD:
- Low rates. Interest rates range from 0.01% to 0.1%, which is much lower than the competition.
- High minimum deposit. You need to deposit at least $1,000 to open a CD.
- Limited availability. Huntington accounts are only available to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, West Virginia and Wisconsin.
- Restricted funding options. You can’t fund this account with money from another Huntington deposit account.
- Must open at a branch. All Huntington CDs must be opened in person.
- Substantial withdrawal penalties. Unlike most CDs that charge penalties as a portion of interest earned, Huntington charges based on your principal deposit.
Huntington CD early withdrawal penalties
| Length of term | Penalty |
|---|---|
| Less than 12 months | 1% of principal |
| 13-24 months | 2% of principal |
| Greater than 25 months | 3% of principal |
Before opening an account, compare other CD options to find out if there’s a better fit for you.
Compare with other CDs
How do I open a Huntington CD?
Huntington CDs cannot be opened online. Instead, you’ll need to visit a branch to open one in person.Eligibility
- At least 18 years old
- Valid Social Security or tax identification number
- US citizen
- Valid passport or state-issued ID
- $1,000 minimum deposit
Required information
- Name and birthdate
- Contact information — address, email and phone number
- Social Security or tax identification number
- Government-issued ID
- Employment information
Funding options
- Provide cash or check at branch
- Transfer from external bank account
How do I cash in a Huntington CD?
Once your CD reaches maturity, there’s a 10-day grace period where you’ll have the option to withdraw funds, transfer to another account or renew your CD. If your money is untouched at the end of the grace period, your CD will automatically renew for the same term length at the current interest rate.
What other savings products does Huntington offer?
Beyond its CDs, Huntington offers a few other savings products:
- Premier Savings. The most basic savings option pays 0.02% APY and has an avoidable $4 monthly fee.
- Relationship Savings. This account offers free checking overdraft protection when linked to an eligible account, but there’s a $10 monthly fee and only up to 0.08% APY.
- Relationship Money Market. This account offers money management tools and up to 0.29% APY, but you won’t earn any interest on balances under $25,000.