bank rates

Huntington Bank Offers Competitive MMA

It doesn’t happen often, but a major regional bank is offering a money market account that rivals the best nationally available deal, and savers in all 50 states can open one online.

Huntington Bank’s (www.huntington.com) Premier Plus Money Market account pays 1.01% APY.

With sinking money market rates in recent weeks, that would be enough to make it the second-highest-paying money market account available to anyone.

But — and there’s always a but — this Columbus, Ohio-based bank requires an active checking account, which means it won’t ever appear on our list of best rates. We reserve that list for banks that don’t attach any strings.

That being said, the Huntington offer is bested only by EverBank (www.everbank.com), which pays 1.10% APY for a guaranteed six months.

To get the top rate at Huntington, the aforementioned checking account must carry a balance of at least $1,500. And you need to make a deposit of at least $20,000 to open an MMA and keep that much in your account to earn interest.

Lower balances earn nothing. Balances above $2 million earn 0.25% APY.

The bank guarantees its rate for at least 90 days after you open your account. After the intro period, the rate can change.

In comparison, you only need to make a $1,500 deposit to open EverBank’s Yield Pledge Money Market, but you don’t need to keep a certain amount in your account to earn interest. The top rate is good on balances to $50,000. Higher balances earn 0.61% APY.

When the six-month bonus period ends with EverBank, you’ll earn the standard MMA rate, which now is 0.61% APY. The bank is based in Jacksonville, Fla.

Huntington has a major presence in the Midwest, with more than 700 branches in Ohio, Michigan, Pennsylvania, Indiana, West Virginia and Kentucky.

You can open an MMA and checking account at one of Huntington’s branches or online.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 4.67 out of 5)
Loading...
One Existing Comment
  1. letme get this said:
    on October 8th at 10:26 am

    this is a very good bank and watch this be deleted W T F