Over the past several weeks CD rates in Ohio have managed to tumble down a choppy path, having a detrimental impact on the the interest income by bank CD investors. This week, Ohio CD rates continued to travel down the path of lower rates once again. Not one of the CD terms displayed an increase in the average rate. The one bright spot is the two year CD rates which held steady for the week.
The six month CD rates in Ohio fell by three basis points or 3/100 of a percent to 1.99% for the week. The best six month CD rate in Ohio comes from The Rockhold, Brown & Company Bank which has an interest rate of 2.06% on a seven month term. Columbus First Bank is only one basis point lower with a six month CD rate at 2.05%.
The one year CD rates in Ohio made a sizeable tumble, falling from 2.56% last week to 2.44% this week. The highest one year CD rate is on a promotional 16 month term CD from First Federal Savings & Loan of Delta with a rate of 2.79%. Another extended term CD from Heartland Bank follows with an interest rate of 2.75% and an 18 month maturity.
Ohio CD rates with a two year term were unscathed at 2.78%. Bramble Savings Bank continues to lead this term with a 30 month CD that yields 3.00%. The top bank rate on a strict two year term is at Columbus First Bank with an interest rate of 2.90%. Both of these Ohio banks have CD rates that outdo the best national rate.
The long term, five year CDs, in Ohio slid by one basis point to end the week at 3.62%. The best five year CD rates in Ohio are led by US Bank with their promotional 59 month term CD that comes with an interest rate of 4.00%. The second best five year CD rate is a quite a step down and comes from two banks, Peoples Bancorp and The Citizens Bank, with rates of 3.56% each.
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.
Certificate of deposit rates in Ohio were modestly higher for the week with the exception of the one year CD rates which rose appreciably for the week. All of the highest CD rates for each term category exceed the best national rates except the six month CD rates which are trailing the best national rates.
The average of the best six month CD rates in Ohio were up by one basis point or 1/100 of a percent to end the week at 2.02%. Two year CD rates were unchanged at 2.79%. The best five year CD rates average was also unchanged at 3.55%. The one year CD rates moved markedly from last week’s average of 2.54% to 2.62% at the end of the week.
The best six month CD rate in Ohio trails the best national rates rather substantially. The highest six month CD rate stands at 2.06% is available at The Rockhold, Brown & Co Bank. The best one year CD rate is at 2.79% on a promotional 16 month CD at 1st Federal Savings & Loan of Delta. The best two year CD rate is at Columbus First Bank with an interest rate of 2.90%. Bramble Savings Bank remains on the list with their extended term 30 month CD with a rate of 3.00%. The best five year CD rate stands at 3.73% is promoted by The Farmers and Merchants Bank.
The best CD rates in Ohio were a mixed bag for the week ending May 29, 2009. The short term bank rates moved lower while long term rates moved modestly higher. The average of the best six month CD rates dropped from 2.04% to 2.01%. The one year CD rates moved from 2.58% to 2.54%. The average for the two year CD rates moved in the opposite direction of the six month and one year CDs from 2.71% to 2.79%. The five year CD rates also increased from last week’s 3.50% to 3.55%.
The highest CD rate with a six month term in Ohio dropped measurably from last weeks high of 2.25% to 2.05% this week. The top bank rate is promoted by Columbus First Bank. Two basis points or 2/100 of a percent lower is a six month CD from Conneaut Savings Bank with a rate of 2.02%. Peoples Savings Bank is just one basis point below that rate with a six month CD at 2.01%. The list wraps up with more than a few banks offering rates at 2.00%.
The highest one year CD rates in Ohio were unchanged even though there was a slump in the averages. The top rate belongs to First Federal Savings and Loan of Delta with an odd term, 16 month CD that yields 2.79%. The next best two year CD rate remains with Bramble Savings Bank at 2.75%. The spread between the highest and lowest rate widened measurably with the lowest rate on the list standing 2.30%.
The best two year CD rate remains unchanged with Bramble Savings Bank extended term 30 month CD that has an interest rate of 3.00%. Columbus First Bank jumps up to second place with a two year CD rate of 2.90%. Both of the two top bank rates exceed the best national rates. Two banks, The First Bexley Bank and Miami Savings Bank, market the next best rates at 2.75%.
The Farmers and Merchants Bank leads the best five year CD rates in Ohio with a CD rate of 3.73%. The next best CD rate makes a sizeable drop to 3.56% and is offered by The Citizens Bank. One basis point below that rate is the 3.55% five year CD from Farmers and Savings Bank.
Certificate of deposit rates in Ohio increased slightly on the very short term, six month CD term, dropped by an equivalent amount on the one year term and were unchanged for the remaining CD terms. The best six month CD rate was offered by Insight Bank with an interest rate of 2.60%. The next best six month CD rate dropped measurably to 2.25% and is a product of Columbus First Bank on their six month CD. Rates drop even further with the next best six month CD coming from Conneaut Savings Bank that has an interest rate of 2.02%.
The best one year CD rates in Ohio have been reduced by a few basis points to 2.75%. Three banks market this interest rate, Insight Bank, Bramble Savings Bank and First Federal Savings and Loan of Delta. Insight Bank offers this rate on a year term, Bramble Savings Bank offers this rate on an 18 month term while First Federal Savings and Loan of Delta markets this on 16 month term.
The best two year CD rates in Ohio remained stagnant. The top two year rate continues to be marketed by Bramble Savings Bank on a 30 month CD that has an interest rate of 3.00%. Insight Bank jumps into second place with a two year CD rate of 2.80%. Two basis point below this rate is a two year CD provided by The Citizens Bank of Logan that has a rate of 2.78%. Two banks Miami Savings Bank and Columbus First Bank share the nest spot with two year CD rates of 2.75%.
Five year bank CDs were also near stationary for the week. The best five year CD rate is still being promoted by US Bank on their 59 month term CD that has an interest rate of 3.75%. The Citizens Bank is a bit of step down in second position with a five year CD rate of 3.56%. Only one basis point lower is a five year CD from The Citizens Bank of Logan that has a rate of 3.55%. And only two basis points further beneath this rate is the 53 month CD of Fifth Third Bank that has a rate of 3.53%.
The best CD rates in Ohio saw some minor improvements for the week ending May 1, 2009. The spread between banks within the ranks of the highest CD rates has widened however, the best CD rates in each term category is still topping the best national rates. The highest six month CD rates in Ohio best exemplify this situation. The top CD rate is a product of Advantage Bank that offers a six month CD with an interest rate of 2.50%. This rate is 18 basis points above the best national six month CD rate which is now at 2.32%. The next best six month CD rate in Ohio drops all the way down to 2.10% and is presented by The Citizens Bank of Ashville. The remaining four banks have six month CD rates ranging from 2.00% to 2.02%.
The best one year CD rate in Ohio remains unchanged at 2.79%. Federal Savings and Loan of Delta markets this CD rate on their odd month promotional CD that has a term of 16 months. Bramble Savings Bank remains in second spot with its extended term CD that matures in 18 months and has an interest rate of 2.75%. A full nine basis points behind this rate is The Citizens Bank of Logan’s 18 month CD at 2.66%. The last spot for the top one year CD rates is held by Peoples Savings and Loan Co with a one year CD rate of 2.52%.
In the two year CD rate category, Bramble Savings Bank is on top with a 30 month CD that has a rate of 3.00%. The best national two year CD rate is 10 basis points back at a rate of 2.90%. However, the second best two year CD rate if Ohio drops sharply to 2.78%. The 2.78% two year CD rate is a product of The Citizens Bank of Logan. Just three basis points back is the two year CD of Miami Savings Bank. Three banks follow this rate with two year CDs rates ranging from 2.60% to 2.68%.
The highest CD rate in the five year term category is still held by US Bank at 3.75%, above the best national rate of 3.66%. The next best bank rate falls to 3.56% and is being promoted by The Citizens Bank. The Citizens Bank of Logan is only one basis point back with a five year CD that earns a rate of 3.55%. Fifth Third Bank makes the list for the first time in several weeks with a 53 month promotional CD rate of 3.53%. Bramble Savings Bank and Liberty Federal Savings Bank round out the list with five year CD rates of 3.50% and 3.45%, respectively.
The highest CD rates in Ohio were mostly unchanged for the week with slight improvement in the depth of some of the CD term offers. Waterford Bank’s nine month term CD special with a rate of 2.27% remains the best CD rate within the six month CD rate category. AmTrust Bank moved into second position with a six month term CD that has an interest rate of 2.25%. Last weeks second place financial institution moved into third spot, The Citizens Bank of Ashville, with a seven month CD rate of 2.14%. The six month rates drop from here, Conneaut Savings Bank is next position with a six month CD rates barley over 2.00% at 2.02%.
The best one year CD rates in Ohio experienced a mild improvement in CD rates. First Federal Savings and Loan of Delta has the highest CD rate with an odd month CD that matures in 16 months and has an interest rate of 2.79%. Bramble Savings Bank drops to the number two spot with a CD rate of 2.75% which matches the best national rate for this term. The last spot is held by Peoples Savings and Loan Co. which has a one year CD with a rate of 2.52%.
In the best two year CD rate category for the state of Ohio, Bramble Savings Bank and Advantage Bank continue to share the top spot with CD rates of 3.00% on their CDs. Bramble Savings Bank rate is on a 30 month terms and Advantage Bank’s is on a two year term. The next best CD rate drops down to 2.78% is being offered by The Citizens Bank of Logan which is based in Logan and has seven bank branches in the region.
The best five year CD rates in Ohio moved a small amount towards the bottom of the list but were mostly unchanged for the highest CD rate promotions. US Bank and Liberty Federal Savings Bank hung on as the category leaders with CD rates of 3.75%. The Citizens Bank, The Citizens Bank of Logan, Farmers and Savings Bank and The National Bank of Oak Harbor all offered rates between 3.50% to 3.56% to complete the best five year certificate of deposit offers.
The best Ohio CD rates are closely following the beat national CD rates. In the six month CD rate category, the lead financial institution is Waterford Bank which is offering a nine month CD special with a rate of 2.27%. This rate is only 2 basis points higher than the best six month national rate. The Citizens Bank of Ashville falls right behind with a seven month promotional CD that has rate of 2.20%. The six month CD list wraps up with Third Federal Savings & Loan with a six month CD rate of 2.00%.
The one year CD rate category is led by a number of special CDs with 12 month to 19 month terms. Miami Savings Bank and Bramble Savings Bank lead the list with CD rates of 2.75% which matches the best national rates. The Miami Savings Bank offer is for a 19 month term CD while the Bramble Savings Bank offer is for an 18 month term. The bottom of the list is held up by American Savings Bank which offers a 15 month term CD that has an interest rate of 2.55%.
Bramble Savings Bank is also on the leader board for the top two year CD rate in Ohio. Bramble Savings Bank and Advantage Bank share the top spot with CD rates of 3.00%. Bramble Savings Bank 3.00% rate is on a 30 month term while Advantage Bank 3.00% rate is on a strict two year term. These rates lead the best national rates by 10 basis points. Miami Savings Bank is up next with a two year CD that yields 2.85%. Rounding out this list is Commodore Bank with headquarters in Somerset, Ohio. Commodore Bank has an odd month, special promotional CD on a 28 month term that has a rate of 2.75%.
The sixth largest bank in the nation, US Bank, leads the best five year CD rate in Ohio. US Bank offers a 59 month term that presently has a rate of 3.75%. Liberty Federal Savings Bank based in Ironton, Ohio has a five CD with the same 3.75% rate. Closely grouped together are the next best five year CD artes of The Citizens Bank, The Citizens Bank of Logan, Farmers and Savings Bank and The National Bank of Oak Harbor. Rates for these banks range from 3.56% to 3.51% in the five year CD category.