CD Rates in Ohio for the week of June 12, 2009

Ohio CD rates as a whole were little changed for the week.  However, the changes in the rate averages for the individual CD terms showed movement in both directions.  The six month CD rate average ended the week right where it started at 2.02%.  The one year CD rates in Ohio tumbled seven basis points or 7/100 pf a percent to 2.56%.  The two year term bank CDs moved slightly south stepping down from 2.79% to 2.78%.  Five year CD rates started the week low and rose by seven basis points to 3.63%.

CD rates in Ohio with a six month term are lower than the majority of the bank rates in the top 20 most populated states.  The best bank rate has a seven month term with a yield of 2.06% and is available at The Rockhold, Brown & Company Bank.  One basis point lower is the six month CD of Columbus First Bank with a rate of 2.05%.  Conneaut Savings Bank offers a six month CD three basis points lower at 2.02%.  More than a few Ohio banks offer six month CDs at 2.00% including; The First Bexley Bank, Insight Bank and AmTrust Bank. 

Extended term CDs that are included in the one year term category offer fairly desirable yields for Ohio CD investors.  First Federal Savings and Loan of Delta has a 16 month CD that has an interest rate of 2.79%,  Bramble Savings Bank and Heartland bank both market 18 month CDs that earn a rate of 2.75%.  Fifth Third Bank jumps on the list again with a 15 month CD at 2.35%.

In the two year CD rate category for Ohio banks, two banks are above the best national rate.  Bramble Savings Bank offers a 30 month at 3.00% top lead the group.  Columbus First Bank has a two year that earns 2.90%, leading the best national rate by three basis points.  The First Bexley Bank wraps up the top three with a two year CD rate of 2.75%.

The highest five year CD rates comes from the recently increased 59 month term CD of US Bank that now yields 4.00%.  NCB has the next best five year CD, albeit quite a step down on rate at 3.66%.  A one basis point drop down from that rate is the five year CD from The Citizens Bank that yields 3.56%.  The remaining Ohio banks on the list all offer five year CD rates at 3.50% or better.

Tags: bank CDs, bank rate, Banks, Bramble Savings Bank, Brown & Company Bank, CD rates, Conneaut Savings Bank, five year CD rates, interest rate, Ohio banks, Ohio CD rates, one year CD rates, rates, six month CD rates, The Rockhold, two year CD rates

This entry was posted on Friday, June 19th, 2009 at 10:23 am and is filed under Ohio CD Rate Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.