Originally founded as The Huntington National Bank in 1866 in Columbus, Ohio, Huntington Bank has maintained its regional status over the years despite several mergers and acquisitions and hefty asset growth.
Today, Huntington Bank is the 28th largest U.S. bank by asset size with over $182.9 billion in assets and $108 billion in deposits.
The regional bank serves seven states in the Midwest:
- Ohio,
- Illinois,
- Indiana,
- Kentucky,
- Michigan,
- Pennsylvania,
- and West Virginia.
The holding company of which Huntington Bank is the banking subsidiary is called Huntington Bancshares. This entity trades on the NASDAQ under the ticker HBAN.
If you’re a consumer looking to earn a good rate of return on the money you deposit, this bank leaves much to be desired.
Its deposit products—CD and money market accounts, specifically—are far from competitive and even lag the national average currently.
That said, the bank has good branch and service accessibility and lets you waive account fees fairly easily, so if you can look past low APYs, there are some advantages.
In this review we’ll be looking at Huntington Bank’s CD Rates and Relationship Money market account.
Huntington Bank CD Rates + Account Details
Huntington Bank’s deposit products are insured by the FDIC up to $250k per depositor or $500k on joint accounts.
Their CD rates have grown more competitive in 2023 but only for their promotional deposits. Their standard CD rates haven’t risen at all. This is on par with what we’ve seen at many large national banks, such as Bank of America or Wells Fargo, who have little incentive to attract new savers with high returns even as the Fed continues to raise rates.
The good news is Huntington Bank has been adding more promotional CDs to their certificate of deposit suite and now offers 5 promotional CDs with terms ranging from 7 to 25 months. This is up from just 1 promotional CD offered in the Spring.
All Huntington Bank certificates of deposit require a minimum opening deposit of $1,000.
Promotional CD Rates
| Term | APY |
| 7 months | 4.86% |
| 11 months | 5.39% |
| 17 months | 4.86% |
| 25 months | 4.34% |
During our last update in July Regions also had a 14 month promotional CD offer but they removed it in August. Their promotional CD rates are offered in 2 tiers by deposit size. The 2 tiers currently pay the same yield but for future reference they are:
- $1,000 – $19,999.99
- $20,000 +
Standard CD Rates
| Term | APY |
| 1 month | 0.05% |
| 3 months | 0.05% |
| 6 months | 0.10% |
| 9 months | 0.10% |
| 12 months | 0.10% |
| 18 months | 0.10% |
| 24 months | 0.10% |
| 36 months | 0.10% |
| 48 months | 0.10% |
| 60 months | 0.10% |
| 72 months | 0.10% |
Huntington Bank’s standard CD rates are offered in 3 tiers with all tiers paying the same yield currently. The tiers are:
- $1,000 – $9,999.99
- $10k – $49,999.99
- $50k – $99,999.99
To give these yields (above) some context, the current national average on a 12 month CD and a 60 month CD sit at just 1.72% and 1.37%, respectively, according to FDIC data.
How do Huntington Bank’s CD Rates Compare
Take a look at the table below to see how Huntington Bank’s CD rates compare to other FDIC-insured regional banks.
| Bank | Best CD Rate |
| Citizens Bank | 4.50% |
| Fifth Third Bank | 5.00% |
| Santander Bank | 5.50% |
| Huntington Bank | 5.39% |
How Much Can You Make with a Huntington Bank CD?
The amount of money you can earn with a Huntington Bank CD is going to depend on your deposit size, the CD term you select and its APY (annual percentage yield). Below are some potential earnings assuming a deposit size of $100,000.
| CD Term | APY | Earnings |
| 7 months | 4.86% | $2,806.94 |
| 11 months | 5.39% | $4,929.95 |
| 17 months | 4.86% | $6,954.06 |
| 25 months | 4.34% | $9,254.47 |
Compounding and Paying Interest
Interest is compounded daily and credited either monthly, quarterly, semi-annually, annually, or at maturity. You get to choose the frequency.
Huntington Bank offers Jumbo CDs and IRA CDs as well however these all come with the same yields shown above. Certificates with balances of $100,000 are considered to be Jumbo CDs. This bank has also offered promotional deposits in the past, but is not running any at this time.
Early Withdrawal Penalties
If you need access to your funds prior to the maturity date of your Huntington Bank CD you will incur the following penalties:
- For terms of 91 days or less, you will owe the full term of your account in simple interest.
- For terms of 92 days to 1 year, the penalty is 3 months interest.
- For terms of 1 year to 18 months, the penalty is 6 months interest.
- Finally, for terms of more than 18 months, the penalty is 12 months interest.
The minimum early withdrawal penalty is 7 days interest.
Grace Period
There is a standard grace period of 10 days for Huntington Bank CDs in which you can withdraw or add funds to your deposit. All accounts are automatically renewable unless you specifically request otherwise except for accounts used for public funds or those with opening balances of $100,000 or more with a term of less than one month. These are not eligible for automatic renewal.
Huntington Bank Relationship Money Market Account Rate + Details
A Huntington Bank Relationship Money Market account now offers competitive yields but also comes with a significantly steeper minimum deposit requirement of $25,000.
The precise interest rate you’ll earn, however, depends on your “relationship” with the bank. And by this, they mean which other accounts you hold with them.
The rate table below shows the APY you’ll earn based on the type of account(s) you hold.
Money Market Rates
| Account Held | APY on money market |
| Standard | 4.49% |
| Huntington Perks Checking | 4.54% |
| Huntington Platinum Perks Checking | 4.59% |
| Private Client Account | 4.70% |
Please note that Huntington Bank only provides the advertised yields on money market balances that are $2 million dollars or less. For all money market accounts with balances above $2m, the APY will be just 0.25%.
To put these yields in perspective the current national average for a money market account with a balance of less than $100,000 is 0.63%.
That said, there are a number of FDIC-insured online banks with savings accounts and/or money market accounts with rates above 5.00% APY and minimum balance requirements of less than $1,000.
Interest is compounded monthly and credited monthly.
Avoid Fees
These accounts have the potential to ding you $25/month in maintenance fees. Here’s how to avoid that:
- Maintain an average daily balance of at least $25,000 (which is also the only way to earn dividends on your balance).
- Maintain either a Huntington Perks Checking or Huntington Platinum Perks Checking account.
A Huntington Bank money market account does have check-writing capabilities, but their checking accounts do.
Huntington Bank Fee Schedule
| Type | Fee |
| Wire Transfers – Domestic Incoming | $15 |
| Wire Transfers – Domestic Outgoing | $25 |
| Wire Transfers – International Incoming | $15 |
| Wire Transfers – International Outgoing | $75 |
| Stop Payment | $31 |
| Return Deposit Item | $10 |
| Foreign Currency Fee | $8 (exchange rates apply) |
| Expedited Delivery | $25 (debit or ATM card) |
| Cashier Check | $6 |
Checks are also available but the cost per box varies based on design.
If you plan on using a Huntington Bank ATM card you’ll want to note that Huntington Bank charges a $3 fee for each out of network cash withdrawal on top of whatever the ATM owner charges.
Huntington Bank Account Features + Customer Sentiment
One of the noteworthy account features across many Huntington Bank accounts is the 24-Hour Grace, which is basically built-in overdraft protection.
This protection feature will give you 24 hours to make a deposit to bring your balance positive in the event of an overdraft. It is applied for free to all checking, savings, and money market accounts with Huntington Bank.
Relationship rate benefits take certain decent Huntington Bank products—like savings and money market accounts—and make them better. So if you intend to join Huntington, know that you will get the most out of this membership if you have multiple accounts with the bank.
This bank hasn’t received the best ratings from other review sites online with scores ranging between 1.5 (ConsumerAffairs) and 3.5 (WalletHub) stars. That said, the majority of the dis-satisfaction tends to reside on the loan site with mortgage and auto loan clients being the most vocal about their negative experiences.
The Huntington Bank app has a 4.4-star rating on Google Play and a 4.8-star rating on the App Store. This app has been praised for being comprehensive and having unique features that you don’t always see in a banking app.
You can reach customer service in a number of ways. You can call (800) 480-2265 from 7:00 AM to 7:00 PM ET, live chat with a representative through the Huntington website, tweet @AskHuntington, or even direct message the bank on Facebook.
Customer service isn’t the only important aspect of overall banking experience. As mentioned, Huntington Bank has great accessibility. There are over 800 Huntington Bank branches and 1,400 ATMs across Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia, and this bank does a good job of placing its branches strategically for maximum convenience. Case in point, if you live in the Midwest, you’ve probably even seen a Huntington Bank hub in your local grocery store.
Huntington Bank customers can make ATM and mobile deposits up to midnight with All Day Deposit.
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