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BB&T Reviews: Checking, Savings, CD and Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

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BB&T checking account options

BB&T Fundamentals

This is a basic checking account with a fixed monthly fee.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $5
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $36 for each item BB&T pays.

The BB&T Fundamentals checking account is intended to simplify consumer budgeting (because it has a predictable monthly fee). It also offers a fixed monthly fee and there is a low opening deposit requirement. After that, there is no minimum balance requirement — but also no interest on this account.

This checking account is best for those who are worried about the direct deposit requirements or minimum balance requirements of other checking accounts.

This account could work well for someone who does not have direct deposit through their employer, or receives irregular or little income. This account simply offers the basics, at a small monthly fee for those basics.

But while this account is simple, the fee could add up over time for very little benefit because there is no added interest or any additional perks.

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Bright Banking

Bright Banking allows the consumer to avoid a monthly fee if requirements are met.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $12 (can be waived)
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $36 for each item BB&T pays.

The Bright Banking checking account offers a low opening deposit amount, but a higher monthly fee. The fee can be avoided if either of the following requirements are met by the consumer:

  • Combined ACH direct deposits totaling $500 or more per statement cycle
  • $1,500 average checking balance per statement cycle.

This account is touted by BB&T as their most popular checking account and one that works well for “everyday banking needs.” While Bright Banking does not offer interest, it does offer overdraft protection and debit card personalization. Direct deposit can also be set up with this account.

This account would be good for anyone who wants a basic checking account and has a moderate average daily balance — such as from a weekly paycheck. However, this account offers little more than the BB&T Fundamentals account — but with a higher monthly fee.

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on BB&T’s secure website

Student Checking

The Student Checking account is intended for those up to age 24.
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Use of BB&T ATMs come with no fees. $3 fee for use of non-BB&T ATM plus any fees charged by that bank. Account comes with two no-BB&T fee, non-BB&T ATM transactions per statement cycle.
  • Overdraft fee: $36 for each item BB&T pays.

Student Checking is a checking account made for students. It is available for account holders up to age 24. The account is intended to make personal banking less stressful for younger customers.

This account has no monthly maintenance fee, no minimum balance requirement, no direct deposit requirement, no fee for online statements and provides two fee-free ATM transactions per month.

With the age maximum, this account is ideally suited for a teenager or college student. This account has few fees associated with it, making banking easy and almost penalty-free for younger customers. Additionally, there is no interest with this account.

This account could help a young person gain a better understanding of banking and money management. The only downside to this account is that once the account holder reaches their 24th birthday, they are no longer eligible for this account.

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Senior Checking

BB&T’s Senior Checking is a personal checking account for those 55 and older.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $10 (can be waived)
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner.
  • Overdraft fee: $36 for each item BB&T pays.

If you are age 55 or older, Senior Checking is the checking account to have at BB&T. While this account doesn’t earn interest, it does allow the consumer to avoid the monthly account fee by meeting one of the following requirements:

  • Having combined ACH direct deposits totaling $500 or more per statement cycle
  • $1,000 average checking balance per statement cycle.

This account would be a good option to consider if you have a part-time job that comes with a modest direct deposit amount. You’ll get all of the perks of a conventional checking account, along with mobile banking.

The downsides to this account are the age minimum and that it does not pay interest on balances.

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Elite Gold

The Elite Gold checking account is the only checking account offered by BB&T with interest.

APY

Minimum Balance Amount

0.01%

$0 to $2,499

0.01%

$2,500-$24,999

0.01%

$25,000 and up

  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $30 (can be waived)
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner. Four no fee from BB&T non-BB&T ATM transactions per statement cycle.
  • Overdraft fee: $36 for each item BB&T pays.

Elite Gold is the top of the line checking account offered by BB&T. It’s also the only BB&T checking account that offers interest. This account comes with a hefty monthly fee and it can be avoided by meeting certain — but stringent — requirements.

The interest provided on this account is better than nothing but is not tiered and remains the same even if the account holder’s balance increases. This account is going to be best for anyone who can maintain the high balance requirement (to avoid the monthly fee) and would like to earn interest on their checking account balance.

A main drawback to this account is its $30 monthly fee, which can be avoided by either of the following:

  • Maintaining $25,000 combined personal deposit or investment balance
  • Holding a BB&T personal mortgage with an original loan amount of at least $150,000

Other benefits that come with this account include bonus rates on CDs and IRA products, overdraft protection for two transactions per month and a waiver on four non-BB&T ATM transactions per month.

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Member FDIC

How to get BB&T’s checking accounts

Applications for all of BB&T’s checking accounts described above can be completed online in 10 minutes or less, according to the bank. You will need your Social Security number, date of birth and address, a driver’s license or government-issued ID and a current bank account number, debit card information or a check to deposit money into your new account.

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How BB&T’s checking accounts compare

If you are seeking a high interest rate, don’t even consider BB&T when you are looking for the best online checking accounts. The “competitive” interest rate on BB&T’s only interest-bearing checking account pales in comparison with the best rates available.

That said, both the student account and older adult accounts should be considered if you are in either of those age groups and you’re looking for a checking account with minimal fees, but willing to forego interest.

BB&T savings account options

eSavings

The eSavings is a basic savings account and can be opened online.

APY

Minimum Balance Amount

0.01%

$0.01

  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner.
  • Overdraft fee: $36 for each item BB&T pays.

The eSavings is BB&T’s most-popular savings account, according to the bank. It comes with no minimum balance requirements, no monthly fees and no minimum opening deposit.

This savings account is best for someone who is looking for an option with no monthly fees and easy access to funds; this account comes with a debit card and access to ATMs. It also has overdraft protection.

This account does offer interest, albeit at a low rate. Overall this account covers the basics most are looking for in a savings account, no more, no less.

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Young Savers

The Young Savers is a savings account for those under age 18.
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: $0
  • ATM fee: No fee for use of BB&T ATMs. $3 fee for use of other bank ATMs plus any fees charged by that ATM’s owner.
  • Overdraft fee: $36 for each item BB&T pays.

The Young Savers account is designed for children under age 18 to help them learn the importance of budgeting and saving money. The Young Savers account has no monthly maintenance fees, no minimum balance requirements and no minimum opening deposit.

This account is interest bearing and also comes with ATM access and online banking, so children can learn about using those tools as well. You’ll have to call the bank for the current rate on this product. A nice bonus with this account is there is no inactivity fee — so if the child doesn’t use the account or make any transactions, they are not penalized.

Apply for a Young Savers account in person at a BB&T branch.

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How to get BB&T’s savings accounts

Applications for all of BB&T’s savings accounts described below can be completed online in 10 minutes or less, according to the bank. You will need your Social Security number, date of birth and address, a driver’s license or government-issued ID and a current bank account number, debit card information or a check to deposit money into your new account.

Also, note that Federal Reserve Regulation D regulates reserve requirements for banking institutions and limits the number of preauthorized withdrawals and transfers that consumers can make from a savings account or money market account. Banks may charge a fee, close the account or convert the account to a checking account as a result of excess withdrawals. If specified for the particular account, the fee is included in the following account descriptions.

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How BB&T’s savings accounts compare

BB&T’s savings accounts cover the basics. There is one for adults and one for children. Both offer interest; however, the rates are quite low when compared to the best online savings accounts. That being said, the bank’s accounts also do not require minimum balances — whereas some of the best online savings accounts do.

BB&T certificate of deposit rates

7 day to 60 month

This is a personal CD product with a guaranteed rate of return.

Term

APY

180 Days

0.01%

270 Days

0.01%

360 Days

0.01%

18 months

0.01%

24 months

0.01%

36 months

0.01%

48 months

0.01%

60 months

0.01%

  • Minimum opening deposit: $1,000 and up depending on CD
  • Minimum balance amount to earn APY: Available directly from bank
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

In short, this CD offers predictability. These certificates of deposit are available at increasing rates at longer terms up to 5 years in duration. The rates are fixed once a term is selected. There are minimum deposit amounts, and they vary depending on the term of the CD.

With its fixed rate, this CD could be a good option for someone who has a specific amount of money to invest for a specific time.

None of the CDs offered by BB&T have monthly fees; they are automatically renewed, come with “guaranteed rates,” according to the bank, and are FDIC-insured.

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Member FDIC

Can’t Lose

This CD product is intended to protect the consumer’s investment even if rates rise or fall.

Term

APY

30 months

0.01%

  • Minimum opening deposit: $1,000
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

With a catchy name, the Can’t Lose CD is intended to “protect your investment whether rates rise or fall,” according to the bank. It comes with a modest opening deposit requirement and while an additional deposit can be made into this account after the first 12 months — there is a cap on that deposit amount.

This CD also allows one penalty-free withdrawal within the first 12 months of the term. This would be a good option for someone who wants to invest in a CD but is concerned they may need some of their money during the CD’s term.

None of the CDs offered by BB&T have monthly fees; they are automatically renewed, come with “guaranteed rates,” according to the bank, and are FDIC-insured.

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Member FDIC

Stepped Rate

The Stepped Rate CD offers interest rates which are guaranteed by the bank to increase every year at least once a year.

Term

APY

48 months

Rates for this CD and annual percentage yield for all 4 years of the term are disclosed by the bank when the account is opened.

  • Minimum opening deposit: $1,000
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

For investors looking for a CD that offers rising rates, the Stepped Rate CD is the product to check out at BB&T. However, this product is also a little cryptic in that the rates are not disclosed until the consumer opens the CD.

The bank says the rate on this CD will rise once a year, every year. This CD has a minimum opening deposit requirement and an additional deposit up to $10,000 can be added once a year.

This CD would be a good option if the consumer is satisfied with the opening APY. This account also comes with penalty-free withdrawals 24 months after initial deposit, so there is some access to the money — if needed.

None of the CDs offered by BB&T have monthly fees; they are automatically renewed, come with “guaranteed rates,” according to the bank, and are FDIC-insured.

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Member FDIC

Add-On

BB&T calls this CD a flexible product that allows the customer to add funds to the CD at any time.

Term

APY

12 months

Available directly from bank

  • Minimum opening deposit: $100
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

With its clever name, the Add-On CD allows account holders to add extra funds to the balance whenever they choose. BB&T describes this as a “flexible” CD.

This certificate of deposit requires only a $100 opening deposit. However, the catch is it also requires a $50 minimum automatic monthly deposit from a bank checking or savings account.

The minimum amount is modest, however, so this CD would not be good for anyone not willing or able to commit to that monthly investment. This CD could be good for anyone living on a budget who wants to experiment with CDs. The term of this CD is shorter, so it may be less intimidating for a new investor.

None of the CDs offered by BB&T have monthly fees; they are automatically renewed, come with “guaranteed rates,” according to the bank, and are FDIC-insured.

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Home Saver

The Home Saver CD is intended to help a consumer save for their home.

Term

APY

36 Months

Available directly from bank

  • Minimum opening deposit: $100
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

The Home Saver CD is pretty straightforward: It’s for someone saving to buy a home. This CD has a modest minimum opening deposit requirement. There is also a minimum monthly automatic deposit amount — to encourage saving for that home, of course.

There is a maximum balance on this CD. This CD would be good for anyone saving to buy a home in the next few years. However, if the person saving thinks they would surpass the $100,000 maximum balance within the 36-month term, they may want to look into a different product.

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on BB&T’s secure website

College Saver

The College Saver CD helps customers save for college costs by allowing monthly automatic deposit into the CD.

Term

APY

36 Months

Available directly from bank

48 Months

Available directly from bank

60 Months

Available directly from bank

  • Minimum opening deposit: $100
  • Early withdrawal penalty: Up to four withdrawals a year to pay for school costs. Beyond those, penalty varies depending on duration of each CD term; penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

The College Saver CD offers varying terms. It is intended to help save for or pay for higher education for a student. There is a $100 minimum opening deposit requirement and a $50 minimum monthly deposit requirement. There is also a maximum account balance of $100,000.

This CD would be good for anyone who needs a secure place to put their college money. A perk is that four withdrawals are allowed per year to pay for school costs.

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Treasury

Funds can be deposited into this CD at any time and funds can also be withdrawn once a month without penalty.

Term

APY

6 Months

Variable interest rate tied to the US Treasury Bill

  • Minimum opening deposit: $5,000
  • Early withdrawal penalty: One penalty-free withdrawal per month. Beyond that, varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

The Treasury CD offers sort of a flexible option. There is a $5,000 minimum opening deposit requirement for this CD and it allows deposits of at least $100 at any time. In addition, funds can be withdrawn once a month without penalty.

This CD would be good for anyone seeking a short-term CD with flexibility. However, the sizes of the minimum opening deposit and additional contributions may be too much for some customers.

The rate paid on these certificates of deposit vary based on the U.S. Treasury Bill.

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CDARS (Certificate of Deposit Account Registry Service)

This CD was designed to let the consumer “relax” while earning interest.
  • Minimum opening deposit: Available directly from bank
  • Early withdrawal penalty: Varies depending on duration of each CD term, penalty typically includes some or all interest that would have been earned or $25, whichever is the greater amount.

CDARS are a way for depositors to combine the security of access to FDIC insurance above $250,000 with the convenience of working directly with just one financial institution. In this case, BB&T advertises this CD as an option to allow the investor to relax while the bank does the work… managing the principal and interest. You’ll have to get the rate directly from the bank as it’s not advertised on BB&T’s website.

The CDARS option could be an attractive option for someone with a lot of money to invest but doesn’t have the time or desire to oversee their own investment.

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How to get BB&T’s CDs

Applications for all of BB&T’s line of certificates of deposit can only be opened in person at a bank branch. These CDs don’t have monthly fees, are automatically renewed, come with “guaranteed rates” according to the bank and are FDIC-insured.

Some of the account information in the following product reviews — including selected APY and account minimums — is available only directly from the bank and is noted accordingly.

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How BB&T’s CD rates compare

In terms of pure yield, it’s a little difficult to compare the many products offered by BB&T to the best CD rates available. If we look at their basic promotional CD, even the highest APY offered is nothing in comparison to the best rates online.

However, if the consumer is looking for a CD as an investment vehicle to save for a specific need — first home, college education, etc. — then BB&T’s unique products are worth a look.

BB&T money market account options

High Performance Money Market Account

This money market account offers tiered rates and check-writing ability.

APY

Minimum Balance Amount

0.01%

$0 to $999

0.01%

$1,000 to $9,999

0.01%

$10,000 to $49,999

0.01%

$50,000 to $99,999

0.01%

$100,000 to $249,999

0.01%

$250,000 to $99,999,999,999

  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $12 (can be waived)
  • ATM fee: Use of BB&T ATMs come with no fees. $3 fee for use of non-BB&T ATM plus any fees charged by that bank.
  • Overdraft fee: $36 for each item BB&T pays.

The High Performance Money Market Account provides tiered money market rates. This account can be opened in conjunction with a BB&T checking account.

The account does have a $1,000 minimum balance requirement in order to avoid the $12 monthly maintenance fee. This account comes with check-writing ability, deposits and withdrawals at ATMs — all the basics for a money market account.

Because this account requires a checking account with BB&T, this option would be best for anyone who wants or already has a checking account with the bank. It’s also intended for someone who usually keeps a “higher balance” in their savings account.

This account includes a few other perks such as overdraft protection and check-writing ability. The account offers interest at tiered rates which increase as the consumer’s balance in the account increases. For example, by boosting a balance above $9,999, a customer can double the rate paid on their money. However, increasing balances to even-higher tiers will only gain more-modestly higher rates.

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Member FDIC

Investor’s Deposit Account

This account allows the customer with a high savings balance to earn interest.

APY

Minimum Balance Amount

0.01%

$0 to $9,999

0.01%

$10,000 - $24,999

0.01%

$25,000 - $49,999

0.01%

$50,000 - $99,999

0.01%

$100,000 - $999,999

0.01%

$1,000,000 - $99,999,999,999

  • Minimum opening deposit: $10,000
  • Monthly account maintenance fee: $15
  • ATM fee: Use of BB&T ATMs come with no fees. $3 fee for use of non-BB&T ATM plus any fees charged by that bank.
  • Overdraft fee: $36 for each item BB&T pays.

The Investor’s Deposit Account is a tiered money market account with a high minimum balance requirement. This account is going to be best for someone looking to earn interest and keep their money sitting a bit — it could be a rainy day fund that won’t likely ever be touched.

That said, this account also comes with check writing ability and the basics such as ATM access.

While the bank’s website lists six balance tiers for this account, the rate on the top five is the same, and only a few percentage points above the lowest level. All the more curious is that the bank’s High Performance Money Market Account offers better rates with similar benefits to the Investor’s Deposit Account.

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on BB&T’s secure website

Member FDIC

How to get BB&T’s money market accounts

All of BB&T’s money market accounts described below can be applied for online in 10 minutes or less, according to the bank. You will need your Social Security number, date of birth and address, a driver’s license or government-issued ID and a current bank account number, debit card information or a check to deposit money into your new account.

Also, note that Federal Reserve Regulation D regulates reserve requirements for banking institutions and limits the number of preauthorized withdrawals and transfers that consumers can make from a savings account or money market account. Banks may charge a fee, close the account or convert the account to a checking account as a result of excess withdrawals. If specified for the particular account, the fee is included in the following account descriptions.

Some of the account information in the following product reviews — including selected APY and account minimums — is available only directly from the bank and is noted accordingly.

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How BB&T’s money market accounts compare

Of BB&T’s money market accounts, only the High Performance Money Market Account is worth considering. As with all account consideration, you should compare these account with the best money market rates and other accounts’ balance requirements.

Overall review of BB&T’s banking products

The range of this bank’s personal banking products can be confusing. To be sure, BB&T is worth consideration if you want a specific product, e.g., a student account, college CD, or over-55 checking account. However, for basic accounts — savings and checking — the accounts are just that, basic.

Because this institution prefers face-to-face interaction and likes to offer rates to consumers in person at a branch, it could be a good option for someone who also values a personal banking relationship and lives in a BB&T branch state.

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Reviews

Third Federal Savings & Loan Review: Checking, Savings, CD and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Third Federal Savings & Loan checking account options

High-Yield Checking Account

Third Federal Savings & Loan offers one checking account, the High-Yield Checking Account, which is intended for customers who want a checking account with a higher interest rate.

APY

Minimum Balance Amount to Earn APY

0.05%

$10

0.05%

$5,000

0.15%

$25,000

  • Minimum opening deposit: $10
  • Monthly account maintenance fee: $7 per month (waived if average daily balance in all accounts combined is $1,500 or more).
  • ATM fee: $1.50 per withdrawal (after the 4th withdrawal during any 1 statement cycle).
  • ATM fee refund: None
  • Overdraft fee: Account holder must pay back the overdrafted amount along with any fees or related charges that are due.

Third Federal Savings & Loan’s High-Yield Checking Account is an interest-bearing account offering three interest rate tiers. Each tier progressively offers a higher APY as long as the account holder maintains a higher minimum balance at the same time.

This account is designed to offer a higher interest rate than other checking accounts available elsewhere. This account would be good for anyone seeking to earn a little interest on their checking account. Those who maintain a very high balance in their checking account would most benefit from this account, considering the tiered interest rates.

Where this account gets tricky is with the minimum balance requirement. Unless you maintain the balance (either in the checking or among all of their accounts combined), you will incur a monthly maintenance fee on the account. Because of this, this account would probably not work well for anyone who keeps a low balance in the checking account or who knows they will frequently draw the account down to the minimum or close to $0.

This checking account comes with a free Third Federal Debit Card which allows account holders to make purchases anywhere Debit MasterCard® is accepted. The card can also be used for cash withdrawals at any Fifth Third Bank ATM. This is a nice feature considering Third Federal’s limited brick-and-mortar locations and Fifth Third’s wider national presence. This checking account also comes with online banking access.

How to get Third Federal Savings & Loan’s High-Yield Checking Account

Visit a Third Federal Savings & Loan branch location to open a checking account.

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on Third Federal Savings And Loan (OH)’s secure website

Member FDIC

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How Third Federal Savings & Loan’s checking account compares

The bank’s sole checking account — the High-Yield Checking Account — compares well with the best online checking accounts out there. The interest rate is a little higher than a few competitors, but only if you can maintain the $25,000 minimum balance set for the Tier 3 APY. Many online banking competitors, however, offer better interest rates regardless of tier.

Third Federal Savings and Loan’s minimum balance requirement to avoid monthly fees is middle of the road among top checking accounts, not the highest nor the lowest. The High-Yield account might make sense if you live near a branch in Ohio or Florida — or if you live near one of the many Fifth Third Bank ATMs nationwide.

Third Federal Savings & Loan Savings Account Options

High-Yield Savings Account

Third Federal Savings & Loan’s High-Yield Savings Account is touted to “pay you the highest rate.”

APY

Minimum Balance Amount to Earn APY

0.05%

$10

0.10%

$25,000

0.20%

$100,000

  • Minimum opening deposit: $10
  • Minimum balance to earn APY: $10 to $100,000 depending on tier, but the bare minimum is $10
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 per withdrawal (after the 4th withdrawal during any 1 statement cycle).
  • ATM fee refund: N/A
  • Overdraft fee: Account holder must pay back the overdrafted amount along with any fees or related charges that are due.

This savings account is interest-bearing, and like the checking account offered by the bank, this account has a three-tier structure. Each tier offers a progressively higher APY at a higher minimum balance.

The account can be opened as either a regular savings account or as an IRA account, depending on customer preference. The account charges no monthly fees (if the minimum balance requirement is maintained) and no limit on monthly transactions.

This account would be best for anyone looking to open a basic savings account and earn interest on their balance. Tier 2 and Tier 3 balance requirements are quite high and possibly higher than what the average account holder would have in a savings account that is being used as a rainy day fund.

Where this account falls short is that most customers would probably look at this account for the Tier 1 option with the lower minimum balance requirement, which is reasonable. Customers with higher amounts in their savings account would probably want to look for a money market or CD to earn better interest. Further, Third Federal Savings & Loan describes this savings account as offering “easy access” to your funds.

Per Federal Reserve Regulation D, you are allowed up to six certain debits per month. Go over that limit, and the bank may charge a fee, close the account or convert the account to a checking account.

How to get Third Federal Savings & Loan’s High-Yield Savings Account

Customers can apply for a High-Yield Savings Account through Third Federal Savings & Loan via online application. The bank says it takes about five minutes to complete the application process. When applying online, have a valid driver’s license or state ID ready, along with your Social Security number. Applicants must be age 18 or older, and a U.S. citizen or a U.S. resident. The account can be opened as an individual account or as a joint account.

SEE DETAILS Secured

on Third Federal Savings And Loan (OH)’s secure website

Member FDIC

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How Third Federal Savings & Loan’s saving account compares

Most of the best online savings accounts offer account holders a full percentage point of interest or more. When compared with these top accounts, Third Federal Savings & Loan’s rates are not the highest available.

Third Federal Savings & Loan CD Rates

Special CD

The Third Federal Savings & Loan Special CD is a promotional CD.

Term

APY

30 Days

0.35%

3 Months

2.00%

15 Months

2.30%

29 Months

2.50%

39 Months

3.00%

  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 91 days or less: loss of 1 months’ interest
    92 days through 1 year: loss of 3 months’ interest
    More than 1 year, less than 3 years: loss of 6 months’ interest
    At least 3 years, less than 4 years: loss of 12 months’ interest
    4 years or more: loss of 18 months’ interest

Third Federal Savings & Loan advertises these CD products as having great rates with low minimums and as an easy account to open.

The Special CD is offered in several terms, from 30 days to 39 months and at varying rates of interest. The Special CD would be good for anyone who wants to earn a bit of interest income on their nest egg.

The $500 minimum opening balance requirement to open a Special CD is low and reasonable, making it an accessible savings vehicle for someone who only has a small balance to invest. Interest rates bump to higher levels the longer you choose to invest your money.

How to get Third Federal Savings & Loan’s Special CDs

Customers can apply for a Special CD through Third Federal Savings & Loan via an online application. The bank says it takes about five minutes to complete the application process. When applying online, have a valid driver’s license or state ID ready, along with your Social Security number. Applicants must be age 18 or older, and a U.S. citizen or a U.S. resident. The account can be opened as an individual account or as a joint account.

This CD can also be opened over the phone by calling 1-800-THIRD-FED or in person at any full-service branch.

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Standard CD

The Third Federal Savings & Loan Standard CD is their basic everyday CD product.

Term

APY

6 Months

0.25%

12 Months

0.30%

18 Months

0.25%

24 Months

0.25%

30 Months

0.25%

36 Months

0.50%

48 Months

0.60%

60 Months

0.70%

72 Months

1.00%

  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 91 days or less: loss of 1 months’ interest
    92 days through 1 year: loss of 3 months’ interest
    More than 1 year, less than 3 years: loss of 6 months’ interest
    At least 3 years, less than 4 years: loss of 12 months’ interest
    4 years or more: loss of 18 months’ interest

The Standard CD is Third Federal’s basic CD product. Terms last from six months up to 72 months, allowing for short-term or long-term investing options.

The Standard CD would be best for anyone seeking to invest money in a CD, and who finds the Special CD rates to not be high enough or the right amount of time for the money they are investing. Customers should look at both product lines closely and compare rates before investing.

The Standard CD is advertised as being a CD easy-to-open account with a low minimum balance requirement.

How to get Third Federal Savings & Loan’s Standard CDs

Customers can apply for a Standard CD at Third Federal Savings & Loan via online application. The bank says it takes about five minutes to complete the application process. When applying online, have a valid driver’s license or state ID ready, along with your Social Security number. Applicants must be age 18 or older, and a U.S. citizen or a U.S. resident. The account can be opened as an individual account or as a joint account.

This CD can also be opened over the phone by calling 1-800-THIRD-FED or in person at any full-service branch.

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Member FDIC

Retirement CD

Third Federal Savings & Loan’s Retirement CD is offered as an investment vehicle for retirement.

Term

APY

12 Months

0.30%

15 Months

2.30%

18 Months

0.25%

24 Months

0.25%

29 Months

2.50%

30 Months

0.25%

39 Months

3.00%

48 Months

0.60%

72 Months

1.00%

  • Minimum opening deposit: $100
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 91 days or less: loss of 1 months’ interest
    92 days through 1 year: loss of 3 months’ interest
    More than 1 year, less than 3 years: loss of 6 months’ interest
    At least 3 years, less than 4 years: loss of 12 months’ interest
    4 years or more: loss of 18 months’ interest

The minimum investment term for a Retirement CD is one year, making it (at a minimum) a longer-term investment vehicle than the other Third Federal Savings & Loan CD options.

The interest rate increases with longer term CDs, capping out at a 72 month CD. Those looking to open a CD and use it as a vehicle for retirement investing should look at the Retirement CD product line.

Third Federal Savings & Loan advertises these CDs as easy to open and requiring low minimums. As the bank requires these CDs to be opened in person at a brick-and-mortar branch, they are probably best suited for customer who reside in Ohio or Florida.

How to get Third Federal Savings & Loan’s Retirement CDs

Visit a Third Federal Savings & Loan branch location to open a retirement CD.

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How Third Federal Savings & Loan’s CD rates compare

Compared with the best CD rates available, Third Federal Savings & Loan’s products hold up. Not every CD is a good buy but several of them — depending on the interest rate and duration — are on par with the competition. Look closely at the Special CDs in particular when shopping CD products through this institution. The Retirement CD might also be compared with the best IRA CD rates when shopping for a retirement investment CD.

Overall review of Third Federal Savings & Loan’s banking products

Overall, Third Federal Savings & Loan offers some interesting products and they do try to offer high interest rates on checking and savings accounts — when compared with many brick-and-mortar locations (many of which offer no interest on checking accounts).

However, when compared with online banking options, this bank has some competition. Their checking account and savings accounts are reasonable options for interest-bearing accounts if you live in Ohio or Florida where this institution operates.

Looking at the CD options, these are the best bet as the rates are fairly competitive when compared with the best CD products available. Third Federal Savings & Loan’s low balance requirement makes the CD products relatively accessible for any investor.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Reviews

Huntington Bank Reviews: Checking, Savings, CD, and Money Market Rates

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

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Huntington Bank’s Checking Account Options

Huntington 25 Checking

The Huntington 25 Checking account touts higher interest rates, along with unlimited non-Huntington ATM withdrawals. It is highlighted as the bank’s high-interest and high-yield checking account.

APY

Minimum Balance Amount

0.10%

$0

  • Minimum opening deposit: No minimum deposit needed to open account.
  • Monthly account maintenance fee: $25 (waived if total relationship balance is $25,000 or greater)
  • ATM fee: No fee for Huntington Bank ATMs, $3 fee per non-Huntington Bank ATM transaction, plus applicable fees from out-of-network ATM as applicable.
  • ATM fee refund: N/A
  • Overdraft fee: Huntington Bank offers 24-Hour Grace® overdraft protection. After 24 hours, if adequate funds have not been deposited in the account, an overdraft fee of $37.50 will be charged. The first overdraft occurrence in the prior 1-year period is $23.

This checking account is best suited for a client who wishes to maintain a substantial amount of assets with the bank, otherwise the fees can add up quickly. This account would be best paired with one of the bank’s money market accounts in order to meet that minimum asset requirement.

The unlimited ATM access that comes with this account makes this checking account ideal for someone who travels frequently and is not in one of Huntington’s primarily Midwest locations.

This account comes with the basic amenities Huntington Bank provides on all checking accounts including All Day DepositSM through its ATMs and mobile app — with a deposit day that ends at midnight and not when the branch closes. Account holders also get free mobile banking, free online bill pay and free account alerts.

With its $25,000 minimum to waive the monthly fee, the account could be a better option for someone looking to get a premium for maintaining a high checking account balance. This account can also be linked with a the bank’s Voice Credit Card® and account holders will earn addition credit card rewards by maintaining a Huntington 25 Checking account while using the credit card. Account holders who opt to open a Money Market account with Huntington Bank can also receive an interest bump for higher earnings.

How to get Huntington Bank’s Huntington 25 Checking

You can apply to open a Huntington 25 Checking account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a U.S. government-issued ID — like a driver’s license or passport — ready along with their Social Security number.

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on Huntington National Bank’s secure website

Member FDIC

Huntington 5 Checking

Huntington 5 Checking is Huntington Bank’s basic interest-bearing checking account. In addition to offering interest, this account also allows with up to five non-Huntington ATM transactions fees waived per statement.

APY

Minimum Balance Amount

0.05%

$0

  • Minimum opening deposit: No minimum deposit needed to open account.
  • Monthly account maintenance fee: $5 (waived if total relationship balance is $5,000 or greater)
  • ATM fee: No fee for Huntington Bank ATMs, $3 fee per non-Huntington Bank ATM transaction, plus applicable fees from out-of-network ATM as applicable.
  • ATM fee refund: N/A
  • Overdraft fee: Huntington Bank offers 24-Hour Grace® overdraft protection. After this time period elapses, if proper funds have not been deposited, an overdraft fee of $37.50 will be charged. The first overdraft occurrence in the prior 1-year period is $23.

The Huntington 5 Checking account requires a minimum relationship balance to waive the monthly fee, but it’s a lower balance than is required for their premium checking account. This is a mid-range checking account for someone who is focused on saving and having a cushion in their checking and/or savings accounts. They may be using their accounts as a small investment vehicle or saving for something short-term, maintaining more than the minimum balance.

While this account pays interest on balances below the minimum $5,000, falling below this level will result in a monthly maintenance fee. This account also does not come with free checks, so consumers should be aware they will foot the cost.

This account can also be linked with a Huntington Voice Credit Card and account holders will earn additional credit card rewards by maintaining a Huntington 5 Checking account while using the credit card. Account holders who opt to open a money market account with Huntington Bank can also receive an interest bump for higher earnings.

How to get Huntington Bank’s Huntington 5 Checking

Consumers can apply to open a Huntington 5 Checking account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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Asterisk-Free Checking

Huntington Bank’s Asterisk-Free Checking is the institution’s most basic checking account. It doesn’t pay interest and it offers few perks, but there also aren’t many penalties. It’s sort of a no-strings attached account and is marketed that way to consumers.
  • Minimum opening deposit: No minimum deposit needed to open account.
  • Monthly account maintenance fee: None
  • ATM fee: No fee for Huntington Bank ATMs, $3 fee per non-Huntington Bank ATM transaction, plus applicable fees from out-of-network ATM as applicable.
  • ATM fee refund: N/A
  • Overdraft fee: Huntington Bank offers 24-Hour Grace® overdraft protection. After this time period elapses, if proper funds have not been deposited in the account by the account owner, an overdraft fee of $37.50 will be charged. The first overdraft occurrence in the prior 1-year period is $23.

The trade-off on Huntington Bank’s Asterisk-Free Checking account is that while you earn no interest, you won’t have a minimum balance requirement or pay monthly maintenance fees. This account could be a good option for a recent high school or college graduate or a young adult who doesn’t want to pay fees but also doesn’t have a lot of money to maintain a minimum balance. The account could also be the right fit for a young person relocating to one of the states where Huntington operates and is seeking to establish a local banking relationship.

Because this account has no maintenance fees, the consumer will pay for any extras as needed including reordering checks and making non-Huntington Bank ATM withdrawals. However, because all Huntington Bank checking accounts come with the 24-Hour Grace® policy, this account does not charge higher overdraft fees than any other Huntington checking account. This is a nice bonus, again, especially for a younger person who may be new to managing their own finances and could accidentally overdraw their account.

This is truly a basic, no-frills checking account and it’s nice to find one with no fees and no minimum balance when many banks have switched to requiring a minimum balance at all times as a way to generate fees on a regular basis when consumers dip below that balance.

How to get Huntington Bank’s Asterisk-Free Checking

Consumers can apply to open an Asterisk-Free Checking account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government issued ID ready along with their Social Security number.

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How Huntington’s checking accounts compare

There are checking accounts with better interest rates elsewhere, especially if account holders want to switch to an online checking account. However, with Huntington Bank’s Asterisk-Free Checking account offering both no interest income but requiring no minimum balance – it’s on par with what some other banks offer in a no-frills checking account.

The bank’s other checking accounts — the Huntington 25 Checking and Huntington 5 Checking — aren’t anything to write home about but are basic accounts for those living in the Midwest who want a small-town banking feel, big bank amenities and access to its regional locations and ATMs.

Huntington Bank’s Savings Account Options

Huntington Relationship Savings

The Huntington Relationship Savings account offers an attractive interest rate on any balance and allows account holders to add to their nest egg.

Standard APY

APY with a Huntington 5 Checking account

APY with a Huntington 25 Checking account

Minimum Balance Amount

0.05%

0.05%

0.20%

$0.01

  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $10 (waived with average daily balance of $2,500 or when linked to an interest-bearing Huntington Checking account.
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Huntington Relationship Savings account is designed for customers who want to save more and build up a nest egg. This account offers a higher interest rate than Huntington’s Premier Savings account. When opened in conjunction with a Huntington Bank checking account, the bank will offer a bump on the interest rate.

This savings account comes with overdraft protection when linked to a Huntington checking account. There is also no monthly maintenance fee when a minimum account balance and other requirements are met.

Similar to the bank’s checking accounts, the Huntington Bank Relationship Savings account also comes with 24-Hour Grace® protection for overdraft, All Day DepositSM and functionality with a mobile app. The account also comes with an ATM card.

Per Federal Reserve Regulation D, which regulates reserve requirements for banking institutions and limits the number of preauthorized withdrawals and transfers that consumers can make from a savings account or money market account, Huntington may charge a fee, close the account or convert the account to a checking account as a result of excessive withdrawals.

How to get Huntington Bank’s Huntington Relationship Savings

Consumers can apply to open a Huntington Relationship Savings account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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on Huntington National Bank’s secure website

Member FDIC

Huntington Premier Savings

Huntington Bank’s Huntington Premier Savings account is a basic savings account and touted as a way for customers to begin building their personal savings.

APY

Minimum Balance Amount

0.02%

$0.01

  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $4 (waived with minimum balance of $300 or when linked to a non-interest bearing checking account).
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Huntington Premier Savings account is a simple way to begin saving. This account is best for a younger person who is starting out on their journey to savings or anyone who is new to building a savings account nest egg.

This account offers interest, although at not as high a rate as on other accounts offered by Huntington. Like other accounts, the Huntington Premier Savings account comes with the bank’s 24-Hour Grace® overdraft protection, a free mobile app, ATM card to access the account and all-day deposit.

While this account does offer interest, which is an added bonus on any account, the rate does not increase as the customer’s balance increases.

Per Federal Reserve Regulation D, which regulates reserve requirements for banking institutions and limits the number of preauthorized withdrawals and transfers that consumers can make from a savings account or money market account, banks may charge a fee, close the account or convert the account to a checking account as a result of excess withdrawals.

How to get Huntington Bank’s Premier Savings

Consumers can apply to open a Huntington Premier Savings account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a U.S.-government issued ID ready along with their Social Security number.

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How Huntington’s savings accounts compare

Both the Huntington Bank Relationship Savings account and Huntington Bank Premier Savings account offer interest and the ability to link to a corresponding checking account. However, in terms of interest rate, neither account comes close to the top-earning savings accounts available today.

The minimum balance requirement on the Huntington Bank Relationship Savings account is higher than other top performing savings accounts, with not much interest offered in return. The minimum balance on the Huntington Bank Premier Savings account is more comparable to the top savings accounts available.

While neither of the Huntington Bank savings accounts are top performers in terms of interest, the accounts are an accessible option for individuals who do not wish to do online-only banking or who appreciate a brick-and-mortar option.

Huntington Bank’s CD Rates

Promotional Fixed Rate CDs

These Huntington Bank CD rates are promotional and could vary by branch or region. The rates and terms may change.

Term

APY

14 months

2.00%

19 months

2.50%

  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: A penalty will be imposed for early withdrawal.

Huntington Bank’s Promotional Fixed Rate CDs showcase the bank’s best low-balance CD rates. In order to participate in this promotion, the investor must sign up before the promotion period ends.

These CDs are a nice option for someone looking to invest in or try out a CD without a significant long-term commitment. Funds from the CD will be available for use again within a few months, as opposed to the two-year, or longer, commitment, many traditional CDs require.

How to get Huntington Bank’s Promotional Fixed Rate CDs

Consumers can apply to open a Huntington Bank Promotional Fixed Rate CD in person at any Huntington Bank branch. Huntington Bank operates locations in Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia and Wisconsin. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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Fixed Rate CDs

Huntington Bank Fixed Rate CDs provide an investment option at a specific interest rate for a specific period of time ranging from a month to several years, depending on the CD product selected.

Term

APY

1 to 3 months

0.01%

6 to 18 months

0.05%

24 months

0.10%

36 months

0.15%

48 months

0.20%

60 to 72 months

0.25%

  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: A penalty will be imposed for early withdrawal.

Huntington Bank’s Fixed Rate CDs are best for customers who can commit to investing and not withdrawing their money for at least five years – or more. By investing in the longest term, the interest rate will be highest.

These CDs require a modest initial investment and provide an opportunity to try CD investing with low risk. In addition, the rate is fixed so the investor will not need to worry about rates changing over the investment period.

How to get Huntington Bank’s Fixed Rate CDs

Consumers can apply to open a Huntington Bank Fixed Rate CD in person at their local Huntington Bank branch. Huntington Bank operates locations in Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia and Wisconsin. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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Jumbo Fixed Rate CDs

Huntington Bank’s Jumbo Fixed Rate CDs offer an opportunity to lock in a higher interest rate on a high balance when invested for the long term.

Term

APY

7 to 90 days

0.01%

180 to 547 days

0.05%

730 to 912 days

0.10%

1095 days

0.15%

1460 days

0.20%

1825 days

0.25%

  • Minimum opening deposit: $100,000
  • Minimum balance amount to earn APY: $100,000
  • Early withdrawal penalty: A penalty will be imposed for early withdrawal.

The Huntington Bank Jumbo Fixed Rate CDs are best for individuals with a large amount of money that they wish to invest for the long-term. The jumbo rate CD offers the highest interest rate but also keeps the money inaccessible for the longest period of time.

These CDs are a good option for individuals who want to build wealth with a conservative investment risk approach and are able to commit to investing money for the long term without any early withdrawals. There is a minimum deposit amount required to open a Jumbo Fixed Rate CD.

How to get Huntington Bank’s Jumbo Fixed Rate CDs

Consumers can apply to open a Huntington Bank Jumbo Fixed Rate CD in person at their local Huntington Bank branch. Huntington Bank operates locations in Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia and Wisconsin. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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on Huntington National Bank’s secure website

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How Huntington’s CD rates compare

Huntington Bank’s Promotional Fixed Rate CD actually brings a decent rate in today’s market and should be looked at as a short-term investment option. In contrast, the jumbo CD and non-promotional CDs are nothing to write home about. Our Best CD Rates page lists the current best offers available for CDs.

Huntington Bank’s Money Market Account Options

Huntington Relationship Money Market Account

The Huntington Relationship Money Market Account offers competitive interest rates on a savings account with a high balance.

Standard APY

APY with a Huntington 5 Checking account

APY with a Huntington 25 Checking account

APY with another Huntington Checking account

Minimum Balance Amount

1.50%

2.02%

2.02%

2.02%

$25,000.00 to $2,000,000.99

0.25%

0.25%

0.25%

0.25%

$2,000,001.00 to $99,999,999,999.99

  • Minimum opening deposit: $25,000
  • Minimum balance to earn APY: $25,000
  • Monthly account maintenance fee: $25 (waived with an average daily balance of $25,000 or when linked to an interest bearing checking account).
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Huntington Bank Relationship Money Market Account is best for individuals with a large amount of money to place in a savings account – and to keep it there. This account has a large, $25,000 minimum balance requirement in order to avoid all fees and to maintain a higher interest rate.

This account is best for someone with a larger nest egg or someone who desires to build upon their nest egg and does not anticipate frequent or large withdrawals. However, once this account caps out at a certain balance the interest rate does drop.

There are no monthly maintenance fees on this account with the minimum balance is maintained. This account also receives an interest rate bump — an additional 0.01% in most cases — when paired with the opening of an interest bearing Huntington Bank checking account. This account comes with all of the basic Huntington Bank perks including free mobile app, All Day DepositSM and overdraft protection.

Per Federal Reserve Regulation D, which regulates reserve requirements for banking institutions and limits the number of preauthorized withdrawals and transfers that consumers can make from a savings account or money market account, banks may charge a fee, close the account or convert the account to a checking account as a result of excess withdrawals.

How to get Huntington Bank’s Huntington Relationship Money Market Account

Consumers can apply to open a Huntington Premier Savings account online via the bank’s website or apply in person at any Huntington Bank location. Applicants must be age 18 or older, a U.S. citizen, a resident of one of the states Huntington Bank operates a location in, and have a government-issued ID ready along with their Social Security number.

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on Huntington National Bank’s secure website

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How Huntington’s money market account compares

The minimum opening balance to receive interest on the Huntington Relationship Money Market is quite high. There are better earning money market accounts elsewhere.

Overall review of Huntington’s banking products

Huntington Bank’s personal banking products don’t offer the best interest rates available. However, they make up for it in terms of offering a small bank feel on a regional level. The 24-Hour Grace® policy for overdraft protection can save headaches in the case of an accidental overdraw.

In addition, the Huntington Asterisk-Free Checking account is a nice option for a no-fee, no-interest account – basically no frills. Many of the basic products available from Huntington Bank are good options for young adults or those new to personal banking.

As noted earlier, Huntington Bank only does business with those who reside within the handful of Midwestern states where the bank operates. Products and services are offered on a regional, not national, level.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.