Best 5-Year CD Rates in Ohio, OH

You are viewing rates from banks across Ohio

Below are 5-year CD Rates from banks that are located in Ohio. Five-Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.

OH - November 21, 2024

5 Year CD National Average : 0.92% ^?

Banks	APY	MIN	MILES ^?
Beal Bank	3.80%	$1,000	-	Learn More Add Review
Rate History: 3.95% → 3.85% → 3.80%
Farmers & Merchants Bank	3.80%	$1,000	-	Learn More Add Review
Seattle Bank	3.75%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 4.55% → 4.50% → 4.15% → 4.00% → 3.75%
Rob H. \| Nov 21, 2023 A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More Reviews (2)
Capital One, National Association	3.50%	$0	-	Learn More
Rate History: 4.00% → 3.90% → 3.75% → 3.50%
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (14)
Ivy Bank, a division of Cambridge Savings Bank	3.25%	$0	-	Learn More Add Review
Rate History: 2.60% → 3.25%
lrcbob \| Jul 26, 2024 Multiple roadblocks trying to set up a savings account with Ivy Bank and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and c... Read More
Citizens	3.00%	$5,000	-	Learn More
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (1)
Gateway First Bank	2.90%	$500	-	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
USAA Federal Savings Bank	2.50%	$1,000	-	Learn More
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
The Farmers National Bank of Canfield	2.50%	$500	-	Learn More Add Review
Rate History: 0.25% → 2.50%
Citibank, National Association	2.00%	$0	-	Learn More
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (11)
The Community Bank	2.00%	$2,500	-	Learn More Add Review
Rate History: 1.00% → 2.00%
JPMorgan Chase Bank, National Association	2.00%	$10,000	-	Learn More
Rate History: 2.00% → 2.50% → 2.00%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
United Bank	1.90%	$50	-	Learn More
Jimleestro \| Apr 12, 2019 United Bank in Front Royal does not know how to set up an inherited IRA. It took over two months to transfer it from Merrill Edge. Several mistakes were made. And then they did not title it correctly. T... Read More Reviews (1)
The First National Bank of Pandora	1.76%	$1,000	-	Learn More Add Review
Rate History: 2.27% → 1.76%
The Peoples Savings and Loan Company	1.51%	$10,000	-	Learn More Add Review
Third Federal Savings and Loan Association of Cleveland	1.50%	$500	-	Learn More Add Review
Peoples State Bank	1.46%	$10,000	-	Learn More Add Review
Citizens Federal Savings and Loan Association	1.40%	$10,000	-	Learn More Add Review
THE HOME LOAN SAVINGS BANK	1.40%	$10,000	-	Learn More Add Review
Woodforest National Bank	1.35%	$500	-	Learn More
Rate History: 1.00% → 1.35%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Heartland Bank	1.30%	$10,000	-	Learn More
Billmaryd33@aol.com \| Apr 23, 2021 Billmaryd33@aol.com Read More Reviews (1)
The Hamler State Bank	1.26%	$5,000	-	Learn More Add Review
First Bank Richmond	1.26%	$10,000	-	Learn More Add Review
Community Savings	1.26%	$10,000	-	Learn More Add Review
Forcht Bank, National Association	1.26%	$10,000	-	Learn More Add Review
Union Savings Bank	1.25%	$10,000	-	Learn More
Patty \| Mar 21, 2020 Well here comes good old Union Savings the absolute worst bank to deal with in the world again today. We have no money coming in right now so we did not send in the mortgage payment yet because our family ... Read More Reviews (2)
Buckeye State Bank	1.20%	$10,000	-	Learn More Add Review
Hometown Bank	1.20%	$10,000	-	Learn More
Donaldson \| Oct 6, 2023 Awful bank. Poor service, rude and some of the lowest rates out there. Avoid Read More Reviews (1)
The Farmers & Merchants State Bank	1.17%	$100,000	-	Learn More Add Review
The Farmers & Merchants State Bank	1.11%	$10,000	-	Learn More Add Review
First National Bank in New Bremen	1.10%	$100,000	-	Learn More Add Review
The Citizens National Bank of Woodsfield	1.10%	$10,000	-	Learn More Add Review
The Citizens Bank Company	1.09%	$100,000	-	Learn More Add Review
Home National Bank	1.08%	$100,000	-	Learn More Add Review
Portage Community Bank	1.05%	$10,000	-	Learn More Add Review
The Settlers Bank	1.05%	$100,000	-	Learn More Add Review
New Carlisle Federal Savings Bank	1.02%	$100,000	-	Learn More Add Review
Minster Bank	1.01%	$10,000	-	Learn More Add Review
The First Central National Bank of St. Paris	1.01%	$10,000	-	Learn More Add Review
The Harrison Building and Loan Association	1.01%	$10,000	-	Learn More Add Review
CenterBank	1.01%	$10,000	-	Learn More
scubagirl \| Mar 4, 2017 For greater Cincinnati customers only. Read More Reviews (1)
First Mutual Bank, FSB	1.01%	$10,000	-	Learn More Add Review
First National Bank in New Bremen	1.00%	$10,000	-	Learn More Add Review
The Twin Valley Bank	1.00%	$10,000	-	Learn More Add Review
The First National Bank of Sycamore	1.00%	$1,000	-	Learn More Add Review
Home National Bank	1.00%	$500	-	Learn More Add Review
CNB Bank	1.00%	$10,000	-	Learn More Add Review
The Osgood State Bank	1.00%	$10,000	-	Learn More Add Review
Home Savings Bank of Wapakoneta	1.00%	$500	-	Learn More Add Review
Galion Building and Loan Bank	1.00%	$10,000	-	Learn More Add Review
SSB Community Bank	1.00%	$10,000	-	Learn More Add Review
Monroe Federal Savings and Loan Association	1.00%	$10,000	-	Learn More Add Review
New Carlisle Federal Savings Bank	1.00%	$10,000	-	Learn More Add Review
Union Savings Bank	1.00%	$10,000	-	Learn More
Patty \| Mar 21, 2020 Well here comes good old Union Savings the absolute worst bank to deal with in the world again today. We have no money coming in right now so we did not send in the mortgage payment yet because our family ... Read More Reviews (2)
Guardian Savings Bank, A Federal Savings Bank	1.00%	$10,000	-	Learn More
Wfransdell@gmail.com \| Oct 29, 2017 Excellentr Read More Reviews (1)
Greenville Federal	0.95%	$10,000	-	Learn More Add Review
Mercer Savings Bank	0.95%	$10,000	-	Learn More Add Review
First Federal Savings and Loan Association	0.95%	$10,000	-	Learn More Add Review
Commodore Bank	0.95%	$100,000	-	Learn More Add Review
The Peoples Savings Bank	0.90%	$500	-	Learn More Add Review
Portage Community Bank	0.90%	$100,000	-	Learn More Add Review
The Home Savings and Loan Company of Kenton, Ohio	0.90%	$10,000	-	Learn More Add Review
The Killbuck Savings Bank Company	0.90%	$100,000	-	Learn More Add Review
Commodore Bank	0.90%	$10,000	-	Learn More Add Review
The Settlers Bank	0.90%	$10,000	-	Learn More Add Review
The Citizens Bank Company	0.89%	$10,000	-	Learn More Add Review
The Farmers State Bank	0.85%	$1,000	-	Learn More Add Review
The Hicksville Bank	0.85%	$500	-	Learn More Add Review
Civista Bank	0.85%	$10,000	-	Learn More
Disappointed \| Feb 5, 2020 We used Civista Bank for a mortgage loan because they gave me the best rate of 3.5 for my over 800 credit rating with no points and locked it in for 2 months. Other banks offering the same rate but would n... Read More Reviews (2)
Greenville National Bank	0.85%	$10,000	-	Learn More Add Review
The Killbuck Savings Bank Company	0.85%	$10,000	-	Learn More Add Review
North Valley Bank	0.85%	$10,000	-	Learn More Add Review
The First National Bank of Bellevue	0.80%	$100,000	-	Learn More Add Review
The Genoa Banking Company	0.80%	$10,000	-	Learn More Add Review
The Ottoville Bank Company	0.80%	$10,000	-	Learn More Add Review
First National Bank of Pennsylvania	0.80%	$10,000	-	Learn More
Mark \| Apr 21, 2020 Your information is very inaccurate. Interest rates are a fraction of 1%. Call the bank yourself. Read More Reviews (1)
The Middlefield Banking Company	0.80%	$10,000	-	Learn More
Joseph Usher \| May 6, 2015 The BEST BANK for 57years straight. The personel are wonderful to work with. ANYONE that needs Money, Middlefield Bank will be there to help. Read More Reviews (1)
The St. Henry Bank	0.80%	$10,000	-	Learn More Add Review
Mechanics Bank	0.80%	$10,000	-	Learn More
rosalie murray \| Jul 18, 2020 how long can i use rabo bank checks? Read More Reviews (1)
The Cincinnatus Savings & Loan Co.	0.80%	$10,000	-	Learn More Add Review
Stock Yards Bank & Trust Company	0.80%	$500	-	Learn More Add Review
The Richwood Banking Company	0.77%	$500	-	Learn More Add Review
The Citizens National Bank of McConnelsville	0.75%	$10,000	-	Learn More Add Review
The Metamora State Bank	0.75%	$10,000	-	Learn More Add Review
The Citizens National Bank of Bluffton	0.75%	$10,000	-	Learn More Add Review
The Fahey Banking Company	0.75%	$10,000	-	Learn More Add Review
First Federal Community Bank of Bucyrus	0.75%	$10,000	-	Learn More Add Review
WesBanco Bank, Inc.	0.75%	$10,000	-	Learn More Add Review
THE VINTON COUNTY NATIONAL BANK	0.75%	$1,000	-	Learn More
Morgan B \| Mar 12, 2023 I have several business loans through VCNB. Anyone considering borrowing money should consider using them for financing. They have the assets and abilities of larger chains, but you get a more personal i... Read More Reviews (1)
Woodsfield Savings Bank	0.75%	$10,000	-	Learn More Add Review
Liberty Bank	0.71%	$1,000	-	Learn More Add Review
FCN Bank, National Association	0.70%	$1,000	-	Learn More Add Review
First Federal Savings and Loan Association of Van Wert	0.70%	$10,000	-	Learn More Add Review
The First National Bank of Germantown	0.70%	$500	-	Learn More Add Review
The Farmers and Merchants Bank	0.70%	$10,000	-	Learn More Add Review
The First National Bank of Bellevue	0.65%	$10,000	-	Learn More Add Review
The Covington Savings and Loan Association	0.65%	$10,000	-	Learn More Add Review
First Federal Bank of Ohio	0.65%	$500	-	Learn More Add Review
The Antwerp Exchange Bank Company	0.65%	$10,000	-	Learn More Add Review
Van Wert Federal Savings Bank	0.65%	$10,000	-	Learn More Add Review
Farmers State Bank	0.65%	$10,000	-	Learn More Add Review
The Apple Creek Banking Company	0.65%	$500	-	Learn More Add Review
First Federal Community Bank, National Association	0.65%	$500	-	Learn More Add Review
Rate History: 0.85% → 0.80% → 0.70% → 0.65%
The Merchants National Bank	0.65%	$10,000	-	Learn More Add Review
The First National Bank of McConnelsville	0.65%	$10,000	-	Learn More Add Review
First Bank of Ohio	0.60%	$500	-	Learn More Add Review
The State Bank and Trust Company	0.60%	$10,000	-	Learn More Add Review
The Andover Bank	0.60%	$1,000	-	Learn More Add Review
The Commercial and Savings Bank of Millersburg, Ohio	0.60%	$10,000	-	Learn More Add Review
Southern Hills Community Bank	0.60%	$10,000	-	Learn More Add Review
The Hocking Valley Bank	0.60%	$10,000	-	Learn More Add Review
First Merchants Bank	0.55%	$100,000	-	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
The Farmers Bank and Savings Company	0.55%	$10,000	-	Learn More Add Review
The Huntington National Bank	0.50%	$1,000	-	Learn More
Allan \| Mar 18, 2021 I called Huntington yesterday and the branch manager told me that the rate listed on Best Cash Cow doesn't exist......... Read More Reviews (1)
The Park National Bank	0.50%	$1,000	-	Learn More Add Review
Kingston National Bank	0.50%	$1,000	-	Learn More Add Review
The Union Bank Company	0.50%	$500	-	Learn More Add Review
First Financial Bank	0.50%	$10,000	-	Learn More Add Review
The Republic Banking Company	0.50%	$500	-	Learn More Add Review
Dollar Bank, Federal Savings Bank	0.50%	$10,000	-	Learn More Add Review
LCNB National Bank	0.50%	$10,000	-	Learn More Add Review
Wayne Savings Community Bank	0.50%	$10,000	-	Learn More Add Review
S&T Bank	0.50%	$10,000	-	Learn More
Haja@gmail.com \| May 15, 2020 Sucks don’t ever get with this bank Read More Reviews (1)
The Pataskala Banking Company	0.50%	$10,000	-	Learn More Add Review
Cf Bank, National Association	0.50%	$10,000	-	Learn More
James R. \| Sep 11, 2020 CF Bank showed good promise as a lender. They have a nice site with a swift intake and origination process. My originator, Dylan, was knowledgeable and a pleasure to work with. I unfortunately can’t g... Read More Reviews (3)
Community Bank	0.50%	$10,000	-	Learn More Add Review
First Merchants Bank	0.50%	$10,000	-	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
The Ohio Valley Bank Company	0.50%	$10,000	-	Learn More Add Review
First Bank of Berne	0.45%	$1,000	-	Learn More Add Review
The Old Fort Banking Company	0.45%	$10,000	-	Learn More Add Review
Buckeye Community Bank	0.45%	$10,000	-	Learn More Add Review
The Peoples Bank	0.45%	$1,000	-	Learn More Add Review
The First National Bank of Dennison	0.41%	$10,000	-	Learn More Add Review
First Commonwealth Bank	0.40%	$10,000	-	Learn More Add Review
The First National Bank of Blanchester	0.40%	$10,000	-	Learn More Add Review
U.S. Bank National Association	0.40% 0.25%	$1,000 $500	-	Learn More
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (2)
The Croghan Colonial Bank	0.38%	$500	-	Learn More Add Review
First State Bank	0.38%	$10,000	-	Learn More Add Review
Signature Bank, National Association	0.35%	$100,000	-	Learn More Add Review
First Commonwealth Bank	0.35%	$10,000	-	Learn More Add Review
Northwest Bank	0.32%	$10,000	-	Learn More Add Review
First Bank of Central Ohio	0.30%	$500	-	Learn More Add Review
First Federal Savings and Loan Association of Lorain	0.30%	$100,000	-	Learn More
Anon \| Jul 23, 2019 Oberlen Ave in Lorain Ohio Read More Reviews (27)
Premier Bank	0.30%	$500	-	Learn More Add Review
The Fort Jennings State Bank	0.25%	$10,000	-	Learn More Add Review
Peoples Bank	0.25%	$10,000	-	Learn More
dionpayne \| Jun 28, 2017 showmethreethousanddollars Read More Reviews (1)
The First Citizens National Bank of Upper Sandusky	0.20%	$10,000	-	Learn More Add Review
Community First Bank, National Association	0.20%	$10,000	-	Learn More Add Review
First Commonwealth Bank	0.15%	$100,000	-	Learn More Add Review
Signature Bank, National Association	0.05%	$10,000	-	Learn More Add Review
KeyBank National Association	0.05%	$2,500	-	Learn More
Rate History: 0.03% → 0.05%
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
PNC Bank, National Association	0.03%	$25,000	-	Learn More
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Bank of America, National Association	0.03%	$100,000	-	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (7)
Fifth Third Bank, National Association	0.01%	$500	-	Learn More
Juan Ricardo \| Nov 12, 2018 Helpful w/$ Read More Reviews (5)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

5 year CDs provide the highest rate of the common CD terms.
The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

The money is locked away for five years and cannot be withdrawn without a substantial penalty.
In a rising rate environment, inflation will reduce the value of the money in the CD over time.
Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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Ohio CD Rates – 5-Year

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Safety

Inflation

Interest

Opening a Five Year CD

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

Disadvantages of five year CDs

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