Huntington Bank CD Rates Today Near Me: Complete Guide
Searching for "Huntington Bank CD rates today near me" often leads to finding competitive promotional offers, especially for terms like the 7-month or 11-month certificates of deposit. Huntington Bank is well-known throughout the Midwest for offering tiered rates that reward customers who also maintain a Huntington checking account.
How to Use the Huntington CD Calculator
To accurately project your earnings, you need three specific pieces of data. First, the Opening Deposit Sum, which is the initial amount you lock away. Huntington typically requires a minimum of $1,000 for their standard and promotional CDs. Second, enter the CD Term Length in months. Finally, input the Annual Percentage Yield (APY) currently offered at your local branch or online.
Example Calculation:
Deposit Sum: $25,000
Term: 7 Months
APY: 4.75%
Result: At the end of 7 months, your balance would grow to approximately $25,683.45, earning you $683.45 in interest.
Maximizing Your Returns at Huntington Bank
Huntington Bank frequently offers "Relationship Rates." These are higher APYs provided to customers who have a Huntington Perks or Platinum Perks Checking account. When checking rates today, ensure you are looking at the correct tier based on your existing relationship with the bank.
Key Features of Huntington CDs:
Fixed Returns: Your rate is locked in for the duration of the term, protecting you against falling market rates.
FDIC Insured: Your deposits are insured up to $250,000 per depositor, for each account ownership category.
Promotional Specials: Look for "odd-term" CDs (like 7, 11, or 19 months) as these usually carry significantly higher rates than standard 12-month or 24-month terms.
Considerations Before Opening
While Huntington Bank offers competitive rates, remember that CDs are time-bound investments. Withdrawing your funds before the maturity date will result in an Early Withdrawal Penalty. This penalty usually consists of a certain number of months' worth of interest, which could potentially eat into your principal if you withdraw very early in the term.
function calculateHuntingtonCD() {
var deposit = parseFloat(document.getElementById('depositAmount').value);
var months = parseFloat(document.getElementById('cdTerm').value);
var apy = parseFloat(document.getElementById('annualYield').value);
if (isNaN(deposit) || isNaN(months) || isNaN(apy) || deposit <= 0 || months <= 0 || apy < 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
// Formula: A = P(1 + r/n)^(nt)
// For CD APY calculations, the yield accounts for compounding.
// The standard math for a quoted APY is: Balance = Principal * (1 + APY)^Years
var years = months / 12;
var apyDecimal = apy / 100;
var finalBalance = deposit * Math.pow((1 + apyDecimal), years);
var earnedInterest = finalBalance – deposit;
document.getElementById('maturityBalance').innerText = "$" + finalBalance.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('totalInterest').innerText = "$" + earnedInterest.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('huntingtonResult').style.display = "block";
}