Huntington Bank CD Promotional Estimator
Calculate your potential earnings based on current promotional yields.
Understanding Huntington Bank Promotional CD Rates
Huntington Bank frequently offers competitive promotional CD (Certificate of Deposit) rates to attract new deposits and reward existing customers. Unlike a standard savings account, a CD locks in a specific Annual Percentage Yield (APY) for a fixed duration, providing a guaranteed return on your investment as long as the funds remain untouched until the maturity date.
Why Choose a Promotional CD?
Promotional CDs usually offer significantly higher rates than standard terms. Huntington Bank often features "odd-term" promotions, such as 7-month or 11-month CDs, which provide a balance between short-term liquidity and long-term yield. These promotional rates are ideal for individuals looking for a low-risk way to grow their cash reserves while protected by FDIC insurance.
How to Use the Huntington Bank CD Calculator
To estimate your future earnings, simply enter your planned deposit amount and the specific promotional rate you've seen at a local branch or online. Adjust the term to match the promotion (e.g., 5, 9, or 14 months). Our calculator uses the compound interest formula to show you exactly how much you will have once the CD term expires.
Example Calculation
If you deposit $25,000 into a 14-month promotional CD with a 5.00% APY, and the interest compounds daily, you would earn approximately $1,475.21 in interest by the end of the term, resulting in a total balance of $26,475.21.
Key Factors to Consider
- Minimum Deposit: Many promotional rates require a minimum opening deposit, often starting at $1,000.
- Early Withdrawal Penalties: If you withdraw your funds before the term ends, Huntington Bank typically charges a penalty, which could forfeit some or all of the interest earned.
- Maturity Options: Upon maturity, CDs usually have a 10-day grace period. If no action is taken, they often automatically renew into a standard-rate CD, which may have a lower yield than the promotion.