Highest CD Rates In Columbus, OH – October 2009

Here is a list of the highest CD (certificate of deposit) rates to the residents of Columbus, Ohio and the surrounding state.

These cd rates will cover at least the following cities in Ohio: Grove City, Upper Arlington, Dublin, Westerville, Gahanna, Reynoldsburg, Newark and Lancaster. These CDs will be for the 6 month CDs, 12 month CDs and 24 month CDs. After going through the local community banks and credit unions serving Columbus and most of Ohio, we have found that you may be able to find slightly higher rates with national institutions than with local ones.

Always remember that CD rates are time-sensitive in nature and can change at a moment’s notice. Please refer to the date of this article for accuracy and to use it as a reference of what CD rates were at a specific date. To find the most accurate CD rates from national banks, view our CD rates page.

How Did We Come Up With This List?

As with any CD rate, the higher the rate the longer the maturity date and since we did not want to strictly list the longest maturities, since they will boast the highest rates, we decided to list the deposit rates which beat national averages by the highest margins.

Highest 6 Month CD Rates In Columbus, OH:

  • United Midwest Savings Bank – 6 Month CD yields 1.75% APY with a minimum deposit of $500.
  • Benchmark Bank (Gahanna, OH) – 6 Month CD yields 1.50% APY with a minimum deposit of $500.
  • Columbus First Bank (Worthington, OH) – 6 Month CD yields 1.50% APY with a minimum deposit of $500.

Highest 12 Month CD Rates In Columbus, OH:

  • United Midwest Savings Bank – 12 Month CD yields 2.30% APY with a minimum deposit of $500.
  • Benchmark Bank – 12 Month CD yields 2.05% APY with a minimum deposit of $500.
  • Columbus First Bank – 12 Month CD yields 2.05% APY with a minimum deposit of $500.

Highest 24 Month CD Rates In Columbus, OH:

  • First Community Bank (Columbus branch) – a promotional 27 month CD yields 2.50% APY with a minimum deposit of $5,000.
  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a minimum deposit of $5,000. (This is a national bank and will accept deposits from any state.)
  • KEMBA Financial Credit Union – 24 month CD yields 2.30% APY with a minimum deposit of $500.

All of the above institutions are federally insured by either the FDIC or NCUA. Be sure to check with the bank to make sure they are still federally insured before giving them your money. If you know of better rates in or around Columbus Ohio please let us know in the comments.


Highest 5 Year CD Rates Paying 3.80% APY – October 16 2009

The highest 5 year cd rates (certificates of deposit) that are nationally available are currently paying 3.80% APY. Many CD rates are based on the bank who is offering the rate and the economy of that location. Some local economies are flourishing and so are those banks, which allows those banks to offer higher than average CD rates.

The top 5 year CD rate (which are nationally available) goes to Melrose Credit Union. Melrose Credit Union has an open New York State charter and there are no geographic or group affiliation field of membership restrictions. Regardless of where you live you just may qualify for a membership.

Here are the membership requirements for Melrose Credit Union:

A $1.00 one time membership fee and a minimum opening deposit of $25.00 to open an account. However the minimum deposit for the certificates of deposit is $5,000. You must provide:

  • Valid Photo ID (Driver’s License, Passport)
  • Proof of Address (shown on a Utility Bill)
  • Social Security Number

If you can afford a larger CD, your next best bet is Apple Federal Credit Union which has one of the highest 5 year CD rates yielding 3.70% APY, however this cd comes with a minimum deposit of $50,000.

If you are only looking for online banking options for 5 year cds your best bet is to go with iGoBanking, USAA Bank, CitiBank, and FlagStar Bank all have 5 year CDs yielding 3.50% APY. These online banking options have requirements between $500 and $1,000. If you know of a better 5 year cd rate from your local bank please let us know!