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 increasse 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.
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