Tuesday, October 4, 2022

What Is The Interest Rate For Huntington Bank

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Huntington Bank Savings Accounts

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Huntington Bank offers two core savings accounts:

  • Huntington Premier Savings account
  • Huntington Relationship Savings account

In addition, Huntington offers the Huntington Relationship Money Market Account, which is worth some consideration. The notable flaw with this money market account is the lack of Money Scout, a tool that analyzes your spending habits.

In a world of high-yield savings from online banks, Huntingtons account options for savings fall short, largely due to low APYs. So why even consider Huntington? The benefits of building your savings with Huntington are easier access to funds for the checking account , access to a leading mobile app and physical access to bank tellers for help if you need, assuming you live in one of the Midwest states with branches.

Finally, Huntington offers Certificates of Deposit , which we will touch on in the next section, as well as business CDs and business savings accounts . For this portion of our review of Huntington National Bank, however, we will focus solely on savings and money market accounts.

Which States Have Huntington Banks

Huntington Bancshares Incorporated is an American bank holding company headquartered in Columbus, Ohio.

Indiana, Kentucky, Michigan, Ohio, Pennsylvania, West Virginia, and Illinois

Then Is Huntington a real bank?

Huntington is a full-service banking provider primarily operating across an eleven-state banking franchise of Ohio, Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, South Dakota, and West Virginia.

Besides, What bank is in all 50 states? Wells Fargo has branches in almost every state in the United States, with some 6,200 storefront branches and more than 12,000 ATMs. The bank has an asset base of over $1.3 trillion.

About Huntington National Bank

The Huntington National Bank was founded in 1866 today, it is officially incorporated as Huntington Bancshares Incorporated. For over a century and a half, Huntington National Bank has been headquartered in Columbus, Ohio.

Huntington Bank continues to grow. In 2021, Huntington joined with TCF National Bank. Together, the newly formed mega bank boasts $175 billion in assets, $142 billion in deposits and $116 billion in loans.

Throughout the Midwest, you can find more than 1,100 physical branches for this regional bank, as well as 1,700 Huntington National Bank ATM locations.

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What Does Huntington Offer

Huntington offers a robust menu of products and services including:

  • Savings accounts

Savings Accounts

Huntington Premier Savings

This is the basic savings account for Huntington customers. Premier Savings is free of fees for customers who have a linked Asterisk-Free Checking account, or who maintain an average daily balance of $300 or more. Otherwise, the monthly maintenance fee is $4. You can open an account with a minimum deposit of $50.

Premier Savings offers savers an APY of 0.01% and only requires a balance of $0.01 to earn. Deposit-to-deposit overdraft protection is provided if you have a linked checking account. If you overdraw, Huntington will automatically transfer money in increments of $100 to cover the overdraft from your Premier Savings account. There is no fee for this protection, but be aware of potential transfer limits.

Huntington Relationship Savings

This account gives savers an improved APY that gets even better if you have additional linked accounts. The basic rate is 0.02% and goes up based on which type of accounts you also have with Huntington:

Relationship Savings Rates
Relationship Savings linked with Private Client Account0.06%

Like the Premier Savings account, Relationship Savings offers deposit-to-deposit overdraft protection, provided you link to a Huntington 5 Checking account.

Premier Savings and Relationship Savings Rates and Terms
Account
Ranging from 0.02% to 0.06%

Checking Accounts

Asterisk-Free Checking

Huntington 5 Checking

Relationship Money Market Account

Huntington Bank Mortgage Rate Calculators

Minimum balance to earn interest is $25,000

APY
With Huntington Bank 5 Checking Account0.05%
With Huntington Bank 25 Checking Account0.05%

Huntington’s Relationship Money Market Account is a type of FDIC-insured savings account that earns interest. This account offers “relationship” benefits and good branch and services accessibility.

However, you’ll have to look past the low APYs. You earn 0.05% interest on all balances above $25,000. Keep in mind that many other savings accounts let you earn the same APY for any balance .

Account features:

  • Earn interest on all balances above $25,000
  • Relationship benefits
  • No monthly maintenance fees with average daily balance of $25,000 or when you have either a Huntington 5 or Huntington 25 Checking account
  • FDIC-insured account
  • Up to six withdrawals per month through an ATM, electronic transfer, or check transaction

Pros:

  • Requires $25,000+ balance to waive monthly maintenance fees
  • Requires $25,000+ to earn interest

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What Is Huntington Bank

Huntington Bank is one of the older financial institutions in the US. It was established in the year 1866 to serve residents of Columbus, Ohio. Its currently owned by Huntington Bancshares Inc., which has over $74 million dollars in assets.

Over the years, Huntington Bank has expanded to cover the Midwest through its branches in Ohio, Kentucky, Illinois, Michigan, Pennsylvania, Wisconsin, and Virginia. It has more than a thousand branches and almost two thousand ATMs.

Some of its services include savings, credit, checking, and investments. It also provides loans such as home equity, mortgage, direct lending, and auto loans. There are also a number of insurance options available as well.

Huntington is a highly rated bank, having received Highest Customer Satisfaction with Retail Banking in the North Central Region by J.D. Power for the last five years straight. It offers flexible banking products for the customers that make it a favorite among many clients.

Reasons To Look Elsewhere

  • Huntington Bank is mostly located in the MidwestThey don’t offer online bank accounts nationwide like other banks. Which means, if you don’t live in one of the states they service, you can’t open an account.
  • Steep minimum balance requirements on interest-bearing accountsFor the Huntington 5 or Huntington 25 Checking accounts, the minimum balances needed to waive monthly service fees are high.
  • There is a free checking option, but it doesn’t earn interest.

  • High balance required to earn higher interestTo earn the “best” interest rates, you’ll need a minimum balance of $25,000 in your Huntington Bank Relationship Money Market Account.
  • If you want to bump the rate up even further, you’ll have to link it to a Huntington Bank 5 or Huntington Bank 25 Checking Account. These accounts requires a $5,000 and $25,000 balance, respectively.

    Investing with Huntington Bank

    Whether you are saving for retirement, college, long-term care, charity, or any other need, Huntington specialists can help you find the products you need to grow your investments while minding your risk tolerance.

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    Creating A Bank Account With Huntington

    Creating a bank account with Huntington is as simple as logging into their website with your social security number and government-issued ID. You might need to provide some personal information and a few electronic documents, but in no time, you will be good to go.

    Alternatively, you can visit a branch and get yourself a ready-to-use account from one of their professional customer support agents.

    Youre Our First Priorityevery Time

    Huntington Bank on small business loan program

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    Benefits Of Huntington Bank

    • Quick Application Process: Getting started with Huntington Bank is fairly easy. You can apply on their website in just 10 minutes and most customers find out whether or not they are approved fairly quickly. Also, the bank never charges any application or prepayment fees.
    • Interest Rate Discounts Available: Huntington Bank doesnt list their interest rates on their website. However, they do offer a discount to customers who enroll in autopay, and for current customers who already have a Huntington Bank checking account.
    • Flexible Repayment Options: You can pay your loan payments on a weekly or bi-weekly basis. This can help you pay off your loan more quickly and pay less in interest.
    • Exceptional Customer Service: Many customers appreciate the banks exceptional customer service. Customer support is available 24/7 by phone and they have over 600 branch locations in the Ohio Valley area.
    • Manage Loan Online: You can also manage your loan online through Huntington Banks customer portal. You can check your loan balance and track your payment history. You can also make extra payments by transferring money from your checking account.
    • Option to Delay & Skip Payments: Borrowers are also given some leeway when repaying their loan. Huntington Bank will let you delay your first loan payment for up to 60 days. And they will let you skip a payment one time without charging any additional fees.

    Huntington Bank Huntington 25 Checking

    Limited-Time Offer: $300 Account Opening Bonus With Qualifying Activities

    Huntington Bank Huntington 25 Checking® is a super-generous checking account with free checks, unlimited ATM fee waivers at non-Huntington ATMs, and special relationship discount opportunities for qualifying Huntington mortgage, home equity, and investment clients.

    • Minimum Deposit and Balance Requirements: To avoid the $25 monthly maintenance fee, maintain at least $25,000 in total relationship balances.1
    • Account Opening Bonus: Open a Huntington 25 Checking® account by , and earn $300 when you make cumulative new money deposits of at least $25,000 within 60 days of account opening and keep your account open for a minimum of 90 days. You should receive the bonus in your new account within 14 days of completing these qualifying activities.
    • Yield: See disclosures for current yield information.
    • Rewards and Incentives: Huntington 25 offers some great relationship benefits. The HELOC relationship discount delivers a 0.15% to 0.50% rate discount on a qualifying home equity line of credit plus an annual fee waiver.4 The mortgage relationship discount shaves up to 0.375% off portfolio loans or pricing discounts on saleable loans.5 And the investments relationship discount includes 100 commission-free online equity or exchange-traded fund trades per year through Huntington Financial Advisors®.6

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    Should You Get A Huntington Bank Cd Account

    Huntington Bank offers a number of CD terms. This is great if youre trying to create a CD ladder, with deposits into different CDs at various term lengths. That allows you to earn interest at more near-term intervals and get more robust returns on longer-term deposits. But in general, the interest rates on those CDs will be low. Youll also have to make a minimum deposit of $1,000.

    You should certainly consider other banks if your goal is to maximize savings. In fact, you may even want to consider putting that money into a savings account.

    One reason you may consider a Huntington Bank CD is if you are already a Huntington customer. You also need to live near a branch because you cannot open a CD online with Huntington Bank.

    Huntington Bank Account Features

    Huntington Bank Mortgage Rate Calculators

    Huntington offers a variety of savings options ranging from standard savings accounts to CDs. All savings accounts offer 24-hour overdraft grace protection, free online bill pay and all-day deposit. You can also easily waive monthly fees for all savings accounts. Youll get additional benefits if you link some savings accounts to checking accounts in the Huntington system. Well explore all options below.

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    Huntington Bank Review: Checking Savings And Cds

    Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

    Overall bank rating

    The bottom line:

    If youre in the Midwest or Southeast and are looking for a no-frills bank to stow your money, Huntington Bank will get the job done. Low and easily avoidable fees are a draw, but low interest rates are a drag.

    Pros

    • Low interest rates on savings and CDs.
    • Overdrafts, if they happen, are expensive.

    Full review

    Huntington 25 Checking Account

    FDIC insurance up to the maximum amount allowed by law.
    Fees$25 monthly maintenance fee unless you maintain a total balance of $25,000 in your Huntington Relationship Savings Account.
    Current Terms and Rates0.10% APY

    The Huntington 25 Checking Account is the banks premier checking account with a 0.10% APY, which is a nice perk considering several checking accounts from brick-and-mortar banks dont earn any interest at all.

    It also waives all out-of-network ATM fees per statement cycle, so you have easy access to your money wherever you are. You can also bump the interest rate on your Relationship Savings Account or Money Market Account by linking either one to your Huntingdon 25 Checking account at opening.

    All Huntington checking accounts offer the 24-hour overdraft grace protection, free online bill pay and all-day deposit, which means you can deposit checks via an ATM or by snapping a photo of your check on your mobile device at any time. Fund availability, however, may vary.

    You can also link checking accounts to Huntington savings or money market accounts for added overdraft protection. In the event your checking account cant cover a balance, the bank will transfer available funds from your savings or money market accounts. But remember, it counts as a transaction when the money is coming from the savings or money market account.

    Being a Huntington 25 Checking Account holder also gives you a $250 discount on closing costs for mortgages that the bank offers.

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    Its Not All Smooth Sailing However

    So far, the Huntington Bank Voice Card sounds pretty good and that is true for those with excellent credit scores.

    For those with less-than-stellar credit, however, the story isnt as rosy. Like the Voice Rewards Card, those with credit scores in the 600s can expect a sky-high interest rate that could reach as high as 25%. While this is lower than the 27% that Rewards cardholders with good or fair credit might experience, it is still perilously high and thats not what you want in a low APR credit card.

    Huntington Bank Huntington 5 Checking

    Huntington Bank – Introducing the Voice Credit Card

    Limited-Time Offer: $200 Account Opening Bonus With Qualifying Activities

    Huntington Bank Huntington 5 Checking® is an interest-bearing account with no minimum deposit to open.

    Huntington 5 account holders with connected consumer accounts enjoy relationship benefits based on balances in all shared accounts, whether owned individually or jointly with someone else.

    • Minimum Deposit and Balance Requirements: Theres no minimum deposit to open this account. To avoid the $5 monthly maintenance fee, maintain at least $5,000 in total relationship balances.1
    • Account Opening Bonus: Open a Huntington 5 Checking account by , and earn $200 when you make cumulative new money deposits of at least $1,000 within 60 days of account opening and keep your account open for a minimum of 90 days. You should receive the bonus in your new account within 14 days of completing these qualifying activities.
    • Yield: See disclosures for current yield information.
    • Rewards and Incentives: Each statement period, Huntington Bank waives up to five non-Huntington ATM withdrawal fees and reimburses associated fees charged by another ATM owner.2 Plus, get 1.05% cash back on purchases made with your linked Voice Credit Card with Rewards.3

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    How Safe Is Huntington Bank

    Is Huntington Bank safe? Your deposits with Huntington are FDIC insured up to $250,000. This protects your money should Huntington Bank go out of business. Open a Relationship Savings or Relationship Money Market Account and get the service fee waived by linking to a Huntington 5 or Huntington 25 Checking account.

    Reasons We Like Huntington Bank

    • 24-Hour Grace®If you see that your account went over, you have 24 hours to get it back to a positive status to avoid an overdraft fee.
  • Deposit your checks without visiting a branchUsing the Huntington Bank mobile app, simply enter the information and snap a picture of the front and back of the check to make the deposit.
  • All-day depositYou have until midnight to make deposits via an ATM or the mobile app. Cash deposits will be available the same day as the day your deposit is received. Check deposits will be a part of your available balance the next business day after the day your deposit is received.
  • For new Huntington customers of less than 30 days, the first $500 of a check is available the next business day with the remainder available after two business days.

  • Open a checking account with no minimum balance required and no monthly feesIf you are looking for a basic checking account without fees, the Asterisk Free Checking Account may suit your needs.
  • You get the same benefits as other Huntington Bank products, including the 24-Hour Grace® overdraft grace period, All Day Deposit, and free online banking.

    Huntington Bank is offering a $150 bonus when you open a new Asterisk-Free Checking® account with qualifying requirements. Find out how to take advantage of the promotion.

  • Sign up for Free Overdraft Protection TransfersThis free program gives Huntington Bank permission to draw the funds from your linked account in the case of an overdraft.
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    Average Interest Checking Rates

    Interest checking, sometimes called high-yield checking, doesn’t usually earn more interest than a traditional savings account. Major banks only give out around 0.01% APY on most interest checking options, and the slightly higher national average of 0.03% is mostly a reflection of the high interest rates of online banks and smaller regional banks whose account policies tend to be more generous.

    Another reason you won’t find many high-interest checking options is that most people find it easier to earn better interest with savings accounts, which tend to see few withdrawals. Checking account balances are always fluctuating due to the frequent expenses of everyday living, making it difficult to earn reliable interest. The few checking accounts that do earn interest are usually premium accounts that require large amounts of money to open or to waive the account fees charged by the bank each month.

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