Ohio Banking Rates

Best Interest Rates in Ohio: Historical Comparison

Deposit account interest rates can either propel depositors in Ohio closer to their financial goals or derail them. To help residents better understand how interest rates have changed in the state over time, Go Banking Rates performed a study comparing historical rate data from 2011 to current Ohio interest rates today. The report compares the average rates in the state from Ohio credit union and local bank institutions on products such as savings accounts, 6-month CDs, 1-year CDs and 2-year certificates of deposit.

In addition to detailing which financial products offer the best interest rates for depositors, Go Banking Rates ranks Ohio averages, and compares state rates to the rest of the U.S. and Washington D.C.

Average Ohio Interest Rates

Below are the average Ohio interest rates from local banks and credit unions, dating back two years ago and compared with average interest rates today:

February 2011

  • 6-Month CD: .51% APY
  • 1-Year CD: .75% APY
  • 2-Year CD: 1.14% APY
  • Savings Account: .28% APY

January 2013

  • 6-Month CD: .23% APY
  • 1-Year CD: .36% APY
  • 2-Year CD: .59% APY
  • Savings Account: .15% APY

Steadiest Rate: Savings account (.13% difference)

Biggest Drop: 2-year CD (.55% difference)

ohio credit union

Historical Ohio Credit Union and Bank Rankings

Ohio Rank
Account Type 2011 2013
6-Month CD  40th  42nd
1-Year CD  43rd  38th
2-Year CD  35th  41st
Savings Account  42nd  27th

About This Ohio Interest Rates Study

Interest rates used in this historical rates comparison are obtained from Go Banking Rates’ database of interest rates from over 4,000 banks and credit unions. No national or online banks were included in the study. Rates as of January 31, 2013 were compared against Go Banking Rates’ archived rate data as of February 28, 2011.

Rates are based on individual institutions’ published online rates, with the assumption that a $10,000 deposit requirement is fulfilled. Note that current rates may have changed since the publish date, so first verify rates with the local bank or credit union before activating an account.