Best CD Rates in Cincinnati, Ohio

For the investors and savings-conscious individuals, finding the best Certificate of Deposit (CD) rates in Cincinnati is not an easy task. With banks and credit unions competing to offer attractive rates, navigating the landscape of CD investments in Cincinnati can lead to rewarding financial gains.

Whether you’re planning for a major purchase, building an emergency fund, or simply aiming to increase your savings with minimal risk, staying informed about the best CD rates in this dynamic city is a smart financial move.

Let’s dive into the world of CDs in Cincinnati, where financial security meets the opportunity for growth.

Overall Best CD rates in Cincinnati, Ohio

No.	Bank Name	APY	Term Length	Address
1	First Safety Bank	5.15%	5-month	4901 Vine Street, Cincinnati, OH 45217
2	Guardian Savings Bank	5.15%	6-month	560 Ohio Pike, Cincinnati, OH 45255
3	Kemba Credit Union	5.13%	6-month	1014 Vine St, Cincinnati, OH 45202
4	KeyBank	5.13%	6-month	53 East 4 Th Street, Cincinnati, OH 45202
5	Local Union 392 Federal Credit Union	5.13%	6-month	1228 Central Pkwy Ste 108, Cincinnati, OH 45202
6	Formica-Evendale Federal Credit Union	5.00%	6-month	10155 Reading Rd, Cincinnati, OH 45241
7	Huntington Bank	5.00%	6-month	525 Vine Street, Cincinnati, OH 45202
8	Mt Zion Woodlawn Federal Credit Union	4.96%	6-month	10180 Woodlawn BLVD, Cincinnati, OH 45215
9	Foundation Bank	4.65%	6-month	9960 Springfield Pike, Cincinnati, OH 45215
10	Kemba Credit Union	4.45%	24-month	1119 W 8th St Cincinnati, OH 45203
11	New Horizons Credit Union	4.35%	24-month	637 Vine St Cincinnati, OH 45202
12	Kemba Credit Union	4.30%	6-month	1119 W 8th St Cincinnati, OH 45203
13	PenFed Credit Union	4.30%	24-month	Online
14	General Electric Credit Union	4.25%	6-month	4450 Eastgate Blvd Cincinnati, OH 45245
15	New Horizons Credit Union	4.21%	6-month	637 Vine St Cincinnati, OH 45202
16	Cinfed Federal Credit Union	4.20%	24-month	4450 Eastgate Blvd Cincinnati, OH 45245
17	Emery Federal Credit Union	4.06%	6-month	7890 E Kemper Rd Cincinnati, OH 45249
18	Sharefax Credit Union, Inc.	4.02%	24-month	10590 Reading Rd Cincinnati, OH 45241
19	Emery Federal Credit Union	4.01%	24-month	7890 E Kemper Rd Cincinnati, OH 45249
20	General Electric Credit Union	4.00%	24-month	4450 Eastgate Blvd Cincinnati, OH 45245
21	Superior Credit Union, Inc.	4.00%	24-month	6321 Glenway Ave Cincinnati, OH 45211
22	PNC Bank	4.00%	6-month	1 East 4th Street, Cincinnati, OH 45202
23	New Horizons Credit Union	3.93%	18-month	637 Vine St, Cincinnati, OH 45202
24	Cincinnati Ohio Police Federal Credit Union	3.88%	6-month	8801 Cheviot Rd Cincinnati, OH 45251
25	Cinco Family Financial Center Credit Union	3.75%	6-month	49 William Howard Taft Rd Cincinnati, OH 45219
26	Cinfed Federal Credit Union	3.75%	6-month	4450 Eastgate Blvd Cincinnati, OH 45245
27	Superior Credit Union, Inc.	3.75%	6-month	6321 Glenway Ave Cincinnati, OH 45211
28	Sharefax Credit Union, Inc.	3.50%	6-month	10590 Reading Rd Cincinnati, OH 45241
29	MainSource Bank	3.50%	6-month	6300 Harrison Avenue, Cincinnati, OH 45247
30	Eagle Savings Bank	3.44%	6-month	3420 Edwards Rd  Cincinnati, OH 45208
31	Woodforest National Bank	3.35%	6-month	2801 Cunningham Rd Cincinnati, OH 45241
32	PenFed Credit Union	3%	6-month	Online
33	Park National Bank	3.00%	6-month	1075 Nimitzview DrCincinnati, OH 45230
34	General Electric Credit Union	3.00%	6-month	10500 Montgomery Rd, Cincinnati, OH 45242
35	LCNB National Bank	2.84%	6-month	3209 West Galbraith Road, Cincinnati, OH 45239
36	New Foundation Savings Bank	2.72%	6-month	8249 Clara Ave Cincinnati, OH 45239
37	New Foundation Savings Bank	2.50%	6-month	8249 Clara Avenue, Cincinnati, OH 45239
38	Union Savings Bank	2.25%	24-month	7435 Kenwood Rd Cincinnati, OH 45236
39	Park National Bank	2.00%	24-month	1075 Nimitzview Dr Cincinnati, OH 45230
40	Union Savings Bank	1.79%	6-month	7435 Kenwood Rd Cincinnati, OH 45236
41	North Side Bank and Trust Company	1.45%	36-month	2739 Madison Road, Cincinnati, OH 45209

Current CD Rates of Cincinnati, Ohio

In Cincinnati, Ohio, the current CD rates hold significant importance for both local savers and nationwide investors who are searching for competitive returns on their deposits.

With the national economic climate influencing interest rates, Cincinnati’s banks and credit unions strive to offer CD rates that are both appealing and competitive. It reflects the broader trends in the U.S. financial markets.

These rates are crucial for individuals aiming to maximize their savings growth with a fixed, secure investment over a predetermined period. By locking in a favorable rate, investors can safeguard their financial future against the volatility of the market.

Best 6 Month CD Rates

For those seeking short-term investment opportunities with quick returns, the best 6-month CD rates in Cincinnati offer a safe place for your savings.

1. Cinfed Credit Union

Minimum Amount: $50

APY / Rate: 3.75% APY

Pros:

• FDIC insured
• No monthly maintenance fees
• The interest rate is compounded daily, so you earn interest on your interest.

Rules:

• The early withdrawal penalty is 90 days of interest if withdrawn before maturity
• The interest rate is subject to change.

2. Capital One

Minimum Amount: None

APY / Rate: 3.90%

Pros:

• You select the precise amount and duration of your investment when you open a CD.
• The Federal Deposit Insurance Corporation provides insurance for CD accounts.
• The interest rate is compounded daily, so you earn interest on your interest.

Rules:

• Early withdrawal penalty: 90 days of interest if withdrawn before maturity
• The interest rate is subject to change.

3. Forbright

Minimum Amount: $1000

APY / Rate: 5.169%

Pros:

• Up to the FDIC-set limits, your money is completely protected by the federal government’s full faith and credit.
• Online accounts are created in minutes.
• The interest rate is compounded daily, so you earn interest on your interest.

Rules:

• Early withdrawal penalty: 6 months of interest if withdrawn before maturity
• The interest rate is subject to change.

Best 1 Year CD Rates

Investors looking for a balance between short-term flexibility and higher interest earnings will find the 1-year CD rates in Cincinnati an attractive option.

1. Cinfed Credit Union

Minimum Amount: $50

APY / Rate: 4.05% APY

Pros:

• Rates are normally set for the duration of the term.
• The interest rate is compounded daily, so you earn interest on your interest.
• You can open a CD account on the Cinfed Credit Union website.
• The NCUA covers your funds to the same limitations.

Rules:

• There is a 90-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

2. Capital One

Minimum Amount: $0

APY / Rate: 4.75% APY

Pros:

• There is no minimum balance. A CD account has no minimum amount to be opened.
• FDIC-insured. Every Capital One 360 CD amount is guaranteed to the maximum authorized by the FDIC.
• No market risk.
• Guaranteed returns.
• The interest rate is compounded daily, so you earn interest on your interest.
• Capital One’s website allows you to open a CD online.
• You can set up automatic transfers from your checking account to your CD.
• Easy to open

Rules:

• The early withdrawal penalty is 90 days of interest if withdrawn before maturity
• The interest rate is subject to change.

3. Westfield Bank

Minimum Amount: $1000

APY / Rate: 0.75% APY

Pros:

• Flexible periods from one month to five years are available.
• On a daily collected balance, FDIC Interest is computed (compounding and crediting monthly).

Rules:

• No monthly maintenance fees or early withdrawal penalties.

Best 2 Year CD Rates

With the 2-year CD rates, Cincinnati savers can access an optimal blend of higher interest rates and manageable commitment.

1. Idabel National Bank

Minimum Amount: $1.00

APY / Rate: 4.85% APY

Pros:

• High interest rates. Idabel National Bank’s CDs offer some of the highest interest rates in the market. For example, their 24-month CD currently has an APY of 4.85%, which is significantly higher than the national average.
• FDIC insured. All CDs at Idabel National Bank are FDIC insured, up to $250,000 per depositor.
• Access: You can access your CD funds through online banking, ATMs, or by writing a check.
• Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

Rules:

• Minimum Opening Deposit: The minimum deposit for a CD at Idabel National Bank is $1.00
• Term length. CD terms range from 30 days to 5 years.
• Early withdrawal penalties. There is an early withdrawal penalty if you withdraw funds from your CD before maturity. The penalty is equal to 30 days’ interest.
• At maturity, your CD will automatically renew and earn the base interest rate.

2. Bread Savings

Minimum Amount: $1500

APY / Rate: 5.00%

Pros:

• High APYs: Bread Savings offers competitive APYs on both its savings accounts and CDs. The current APY for the high-yield savings account is 4.90%, and the APY for CDs ranges from 5.00% to 4.35%.
• FDIC insured: Bread Savings is FDIC insured, so your deposits are protected up to $250,000.
• Minimal fees: Bread Savings has no monthly maintenance fees for either its savings accounts or CDs. There are also no fees for ACH transfers, online statements, or incoming wire transfers.
• Easy to use: Bread Savings’ website and mobile app are easy to use. You can easily open an account, deposit money, and transfer funds.

Rules:

• Minimum deposit: The minimum deposit to open a CD is $1500.
• APY: APYs vary depending on the term length. For example, the APY for a 12-month CD is 5.00%, while the APY for a 60-month CD is 4.35%.
• Deposit Amount : Maximum deposit limit of $1 million per account and $10 million limit per customer
• Term lengths: CD terms range from 12 months to 60 months.
• Early withdrawal penalties: There are early withdrawal penalties for CDs at Bread Savings.
• CD is automatically renewed for a 1,2, and 3 year Certificate of Deposit (CD).

3. Marcus by Goldman Sachs

Minimum Amount: $500

APY / Rate: 4.85% APY

Pros:

• High interest rates: Marcus offers some of the highest interest rates on CDs available. As of July 20, 2023, the Marcus 2-year High-Yield CD rate is 4.35%.
• Easy to open and use: Marcus accounts can be opened online in just a few minutes. There are no minimum balance requirements or fees to worry about.
• Convenient access: You can access your Marcus account 24/7 online or through the Marcus mobile app. You can also set up automatic transfers from your checking account to your Marcus account.
• Safe and secure: Marcus accounts are FDIC insured up to $250,000.

Rules:

• You must deposit at least $500 to open a CD account.
• The interest rate you earn will depend on the term of your CD.
• If you withdraw your money before the maturity date, you will be subject to an early withdrawal penalty.
• You can earn the highest published interest rate and Annual Percentage Yield (APY) if you deposit at least $500 within 10 days of opening your CD account.
• The interest rates are subject to change at any time.

Best 5 Year CD Rates

For the most patient investors, the best 5-year CD rates in Cincinnati promise the highest returns, rewarding long-term planning and investment with significantly higher interest rates.

1. Self-Help Federal Credit Union

Minimum Amount: $500.00

APY / Rate: 4.65%

Pros:

• Higher rates on longer terms
• Terms from 3 months to 5 years
• No overdraft fees.
• All term certificates are NCUA- insured

Rules:

• The account must be in good standing.
• The account must be open for the entire term.
• There is a 90-day early withdrawal penalty for terms of 12 months or less, and a 180-day early withdrawal penalty for terms greater than 12 months.

2. Landmark Credit Union (WI)

Minimum Amount: $500.00

APY / Rate: 5.00%

Pros:

• A new member must open a VIP Savings Account with a minimum of $5 to establish a membership with Landmark.
• Accounts can be opened online or at any of our local branch locations.
• Landmark Credit Union is also federally insured by the NCUA

Rules:

• Dividends are paid on the entire daily balance whenever it is $2,500 or more.
• APY may range from 7.50% – .11% on balances over $500.
• Account cannot be opened online and must be opened within the branch.
• There is a penalty for early Certificate withdrawal.
• Premium Checking base rate is 0% APY. Premium Checking Accounts with e-statements (valid email address required) and direct deposit earn 7.50% APY on balances up to $500. APY may range from 7.50% – .11% on balances over $500. Direct deposit is defined as a minimum of $250 per month in ACH deposits, which may include payroll, pension or government benefit payments. One Premium Checking Account per member.

3. Bank Five Nine (WI)

Minimum Amount: $1000

APY / Rate: 4.00%

Pros:

• Low minimum daily balance
• Competitive interest
• $300 cash reward when you open a checking account with qualifying activity*
• Unlimited check writing plus first order of checks are free
• Online banking, bill pay, mobile banking with check deposit, eStatements, and low balance alerts are free
• Debit card included with access to 600+ free ATMs statewide

Rules:

• An active Bank Five Nine consumer checking account is required to receive higher APYs for Special Relationship pricing.
• Fees may reduce earnings.
• A penalty may be imposed for early withdrawal from the accounts listed unless otherwise noted.
•  Offer valid to consumer accounts only.
• Bank Five Nine does not generally accept institutional or brokered deposits to any of our deposit products.

Cincinnati, Ohio: Economic Statistics

Cincinnati, Ohio, the city showcases a robust economic profile that is underpinned by its average household income, home values, and a bustling population that collectively shape the investment opportunities, particularly in the realm of CD rates.

• Average Household Income – Cincinnati’s average household income reflects the economic vitality of the region. The average income in Cincinnati is around $62,000, indicative of the city’s middle-class strength and its potential for savings and investment.
• Average Home Value – The real estate market in Cincinnati offers a glimpse into the city’s affordability and economic health. With average home values sitting at approximately $223771, the city is positioned as an attractive option for both residents and investors looking for stable growth opportunities.
• Population – Cincinnati’s population, standing at over 300,000 residents, contributes to a dynamic economic environment.

Economic Indicator	Value
Average Household Income	$62,000
Average Home Value	$223771
Population	Over 300,000

This demographic foundation supports a diverse range of financial services, including competitive CD rates offered by local banks and credit unions aiming to attract savers and investors.

How to Get the Best CD Rates in Cincinnati, Ohio?

Securing the best CD rates in Cincinnati, Ohio, requires a strategic approach, combining thorough research with an understanding of your financial goals and timing.

• To identify the most competitive rates, investors should consider a broad spectrum of financial institutions, including both large national banks and local credit unions, which often offer more attractive rates to their members.
• Key steps include comparing rates from various sources, understanding the terms and conditions associated with each CD, and staying informed about the overall economic climate, as interest rates can fluctuate based on federal policies and market conditions.
• Additionally, leveraging online financial tools and resources that aggregate and compare CD rates across different banks can streamline the process, helping savers find the best deals available in the Cincinnati area.

CD Rates Methodology

Our methodology for identifying the best CD rates in Cincinnati involved an extensive review of CD offerings from a wide range of financial institutions. Specifically, we reviewed CD rates from 76 banks to understand the landscape of available options.

Out of these, 41 banks made the list, having been selected based on their competitive interest rates, the flexibility of terms, customer service reputation, and overall financial health. This comprehensive approach ensures that our recommendations provide real value to investors, highlighting institutions that offer both competitive returns and reliability.

Conclusion

Overall, the landscape of CD rates is dynamic, and it is influenced by both local economic conditions and national financial trends. It makes ongoing vigilance a key component of successful investing.

Moreover, remember that the best CD rate for you will align with your financial goals, investment timeline, and risk tolerance. It will ensure that your savings not only grow but also support your broader financial strategy.

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