Online banks are a whole lot cheaper to run. However, physical locations are notoriously costly to run. Huntington Bank has brick-and-mortar branches that you can visit if you need to speak with someone for in-person assistance. Other banks, like CIT Bank, have no-penalty CD accounts and relatively light early withdrawal penalties for other CDs. Because if not, you'll pay very steep penalties. And make sure you actually don't need to touch the money for that amount of time. It's very tempting to sign up for a 72-month term for the higher interest rate, but resist the urge. Huntington offers the following CD term lengths: That's because the fees depend on the term length, your deposit amount, and how much you're withdrawing from your account.
The regional bank is not open with their early withdrawal fees structure and they won't give you penalty details until you open an actual CD account.
Huntington Bank bases the fee on the term of a CD, so the longer the CD term, the higher the fee for early withdrawals. Here are some of the top CDs available now:
