Dedicated to Deposits: Deals, Data, and Discussion

4.45% 24-Month Online CD at Huntington Bank


Huntington Bank is offering an online promotional CD with a yield of 4.45% APY and a term of 24 months. The minimum deposit is $1,000.

When I called Huntington for its last CD promotion, the CSR said that these online CDs are available to people in any state except California. I was also told that ACH funding is not an option for funding the CD. You have to mail in a check or deposit a check at a branch. At maturity you can request a check by mail or a wire transfer ($10 fee). There's a 10 day grace period at maturity in which you can close without a penalty.

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 the top yield is only 3% APY with a $100K balance.

Huntington Bank has been FDIC insured since 1934 (FDIC Certificate # 6560). It has $55.6 billion in assets and $38.4 billion in deposits. Bankrate's rating for this bank is 3 stars (performing) based on 12/31/07 data.

Other High Yield Certificate of Deposit Rates

For more high CD rates, please refer to my Nationwide CD rate summary.

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Comment #1 by Anonymous posted on
I have an AARP money market account which is at Huntington. Can I fund this CD from that acct? When the CD matures, can I have the funds applied to my AARP account?

Comment #2 by Pall Mall (anonymous) posted on
Pall Mall
What's with Huntington discriminating against California residents?

Out of all 50 states, why would they ban people from the most populous state?

Does anyone have a theory?

Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Anonymous, the fact that AARP has its own account management system may complicate Huntington's ability to transfer these funds even though AARP deposits are held by Huntington.

Pall mall, about restricting California residents, I think the reason is that Huntington doesn't want the online bank to pull deposits away from its California branches. Zions and Key have similar restrictions. They would probably be better off without these restrictions in my opinion.