Dedicated to Deposits: Deals, Data, and Discussion

5.64% 60-Month Jumbo CD at Huntington Bank - Nationally Available


Huntington Bank is offering some very high rates on its Jumbo CDs. The top rates are 5.64% APY and 5.36% APY for the 5 and 4 year CDs with a $250,000 minimum deposit. The yields for a $100,000 minimum deposit are 5.28% APY and 5.00% APY.

From their online chat session, I received the following details of these 4 and 5 year Jumbo CDs:
  • Can be opened by phone and funded by mailing a check
  • 12 months of interest penalty for early withdrawal
  • 10 day grace period
  • At maturity, you can instruct them by phone to close the CD and send you a check (CSR wasn't sure about wire transfer and electronic funds transfers)
  • Available in an IRA
  • POD beneficiaries can be includedd (CSR didn't know how many could be listed)

On November 26th I reported on their 5.25% 7-month online CD promotion. This seems to have ended. Their current CD special is a 4.90% APY 14-month CD. These online promotions are not available to those in California. I forgot to ask about these Jumbo CDs.

Huntington started an online savings account early last year (see post) which like this CD is available nationally except for those in CA. The rate on the savings account was as high as 5.30% APY, but now it's only 4.60% APY.

Huntington Bank is FDIC insured (Certificate # 6560). It has $36.0 billion in assets and $25.4 billion in deposits. Bankrate's rating for this bank is 3 out of 5 stars (performing) based on 6/30/07 data.

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Comment #1 by Anonymous posted on
I believe it's worth adding that a CD in an IRA is insured for up to $250,000, which should make those capable of investing that much, sleep soundly. The only potential negative is that if the bank failed, you could lose any interest you earned. Your $250K principal would be protected, however.

Comment #2 by Anonymous posted on
You might want to remind people that their UFB Direct deposits might be at Huntington Bank, which could affect their FDIC coverage.

Comment #3 by Anonymous posted on
When Nextbank failed, I got reimbursed via FDIC. In addition to getting my principal back, I got all of my accrued interest. As long as you're below the FDIC limit, you get principal plus interest