Cincinnati Employees Credit Union

best interest rates in ohio A number of factors help motivate depositors to save money, but one of the leading drivers is the desire to reach personal life goals, like buying a home or starting a family. However, in order to get to a goal’s finish line, depositors need to find the available on deposit accounts that save money conservatively.

This week, Go Banking Rates continues its Best Interest Rates in Every State series by investigating interest rates today in the Buckeye state of Ohio, and comparing how rates measure up to the rest of the U.S.

Two of the most popular types of accounts that allow Ohio savers to safely work toward their savings goals while earning returns are CDs and savings interest rates - Ohio 6-month CD titutions; those offering the best interest rates, however, are specifically local banks and non-profit credit unions in the state.

Interest Rates Today: Ohio

Unlike its findings from the Pennsylvania interest rates study, Ohio interest rates were far higher than the national average in all deposit account categories. This news bodes well for Ohio residents who are still working to maintain a comfortable level of financial security, as deposit rate returns are more than promising.

Short-term CDs in Ohio average 0.47% APY, while the national average rate for the same term duration was at a mere 0.31% interest rates - Ohio 1-year CD es at 0.72% APY and 1.08% APY, respectively. If these findings weren’t positive enough, the state’s average savings account rate was at a strong 0.39% APY compared to the average U.S. savings account rate of 0.21% APY.

Average National Deposit Rates

Account Type Rate

6-Month CD 0.31% APY

1-Year CD 0.47% APY

2-year CD 0.71% APY

Savings Account 0.21% APY

best interest rates - Ohio 2-year CDAverage Ohio Interest Rates

6-Month CD 0.47% APY

1-Year CD 0.72% APY

2-year CD 1.08% APY

Savings Account 0.39% APY

Ohio’s Best CD Rates

Certificates of deposit remain one of the tried and true tools for saving money, and Ohio residents are better able to realize their personal and financial goals with the help of the best CD rates in the region. High-yield CD rates are bountiful in the state, giving depositors even more incentive to remain on their savings path.

Deal of the Day: Communicating Arts Credit Union CD Rates at 1.25% APY

Deal of the Day: SEMC Federal Credit Union CD Rates at 1.00% APY

Related posts: