Dedicated to Deposits: Deals, Data, and Discussion

4.86% 60-Month Jumbo CD at Huntington Bank - Nationally Available

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Huntington Bank is offering some high rates on its long term Jumbo CDs. The top rates are 4.86% APY and 4.47% APY for the 5 and 4 year CDs with a $250,000 minimum deposit. The yields for a $100,000 minimum deposit are 4.47% APY and 4.09% APY.

Last December these rates were as high as 5.64% APY. Considering the Fed has cut rates by 1.25% since then, these current rates are pretty competitive. Before that December post I received the following CD details from an online chat session with the banking rep:
  • 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 (IRAs are federally insured to at least $250K)
  • POD beneficiaries can be includedd (CSR didn't know how many could be listed)

The bank often has online CD promotions, but lately the rates have been low. Their current CD special is a 3.67% APY 13-month CD. These online promotions are not available to those in California.

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 3.50% APY.

Huntington Bank is FDIC insured (Certificate # 6560). Bankrate's rating for this bank is 3 out of 5 stars (performing) based on 9/30/07 data. For those who have accounts at UFB Direct, please note that your deposits may be FDIC insured through Huntington Bank. So keep this in mind if you're planning a large deposit at Huntington (see post).

  Tags: CD rates, IRA rates

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Comments
2 Comments.
Comment #1 by Klink (anonymous) posted on
Klink
I wouldn't tie up $250,000 of my money for 5 years at 4.86%.

1
Comment #2 by Anonymous posted on
Anonymous
Keep in miund that Huntington is the bank behind UFB direct, so if you have UFB money already be aware of this for FDIC insurance purposes.

1