CD Rates in Ohio for June 2026

When comparing CDs, consider the following four factors. 

1. Term length: While the most common CD terms range from six months to five years, you can find shorter and longer terms if you need. The term that’s right for you will be the one that matches your financial goals. In general, shorter-term CDs offer flexibility but longer-term CDs offer bigger gains.
2. Yield: Your CD’s annual percentage yield (APY) is how much interest you’ll earn, and it’s locked in for the full term of the CD (for traditional CDs). The higher the yield, the more interest you’ll earn. You’ll often find the highest yields at online banks and at credit unions. 
3. Minimum deposit: Many institutions will ask for $500 or $1,000 as a minimum deposit for a CD but you can find banks that allow you to open a CD with any amount. This minimum is especially important if you want to open multiple CDs or make a CD ladder. 
4. Early withdrawal penalty: The early withdrawal penalty is what you’ll pay if you pull your money out before the term is up. These differ by bank and by CD term. For example, you might have to forfeit six months' worth of interest for withdrawing from a one-year CD early or 18 months’ worth of interest from a five-year CD. Generally, the longer the term, the bigger the penalty. 

Insight box: Consider a no-penalty CD if you’re not certain you can commit to the CD term. These CDs allow you to withdraw your full balance after an initial holding period (typically seven days) without paying a penalty, but they’ll likely pay a lower rate than their traditional CD counterpart. 

It’s true that you’ll often find the highest rates at online banks (without overhead costs of paying for physical branches, they can pay higher rates), but credit unions also often pay competitive rates, too. That’s because credit unions are nonprofit institutions and they pass on profits to their members, not shareholders, in the form of higher savings rates. 

The National Credit Union Administration (NCUA) has a credit union finder tool you can use to locate credit unions in your area. Most credit unions have specific membership requirements though, usually based on where you live, study or work, so you’ll need to check the membership rules and make sure you qualify to become a member.

There are too many local credit unions for Bankrate to be able to review them all so you’ll have to do your own searching. To get you started, here are the three biggest credit unions in Ohio, by membership size, as of the fourth quarter of 2025:

1. Wright-Patt Credit Union, Inc.
2. General Electric Credit Union
3. KEMBA Financial Credit Union

If you can live without some of your savings for a while, a long-term CD is a good option since they lock in a high yield even if banks slash rates down the road. And the longer you can leave your money deposited, the more interest you’ll earn, even if the rate offered on a long-term CD is lower than what’s available on a short-term CD. 

But with a short-term CD, you’ll have more flexibility with your funds if you need to make purchases or look into other investment options. Plus, the early withdrawal penalty is likely to be lower. 

Before choosing a CD, check your financial goals and timeline and do the math with Bankrate’s CD calculator to see what you can earn with different terms and rates. 

Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. We help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.

Part of Bankrate’s editorial team is made up of a group of banking experts. These experts have collectively researched over 100 banks and review current details at least monthly to make sure readers stay up to date on the latest rates and bank products. If you see a star rating next to a product, that has been established by one of our banking experts, and is not influenced by partner status.

Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.

Banks shown on page and sorting logic

Banks shown on page are a combination of partners and a selection of banks monitored by Bankrate.  Sorting is based on the highest APYs with a $25,000 balance. Minimum balance requirements and then alphabetical order help break ties between banks and credit unions. Here's how we make money and here is our advertiser disclosure.