What are the best CD rates in Ohio right now?

As of May 2026, the best CD rates available to Ohio residents reach approximately 4.50%–4.75% APY at top online banks including Ally, Marcus, and Discover Bank. Ohio is also home to major bank headquarters including Fifth Third Bank, KeyBank, and Huntington Bank — all of which offer CD products, though typically at lower rates than online banks.

Is CD interest taxable in Ohio?

Yes. Ohio taxes CD interest as ordinary income at progressive rates from 0% to 3.99% in 2026. Ohio residents with taxable income under $26,050 pay 0% state income tax. For most Ohio residents in middle income brackets, the effective state tax rate on CD interest is 2.75%–3.99%. Ohio's rates are moderate compared to states like California (up to 13.3%) and New York (up to 10.9%).

Are there good Ohio-based banks and credit unions for CDs?

Yes. Several major US banks are headquartered in Ohio: Fifth Third Bank (Cincinnati), KeyBank (Cleveland), and Huntington Bank (Columbus). These banks offer CD products, though standard rates are typically below online banks. For competitive rates, look at Ohio credit unions such as Wright-Patt Credit Union (Dayton area) and Superior Plus Credit Union.

What is Ohio's state income tax rate for CD interest?

Ohio's 2026 state income tax rates are progressive: 0% on income up to $26,050; 2.75% on income from $26,051 to $100,000; and 3.99% on income over $100,000. Most Ohio residents earning CD interest will pay 2.75% or 3.99% state tax in addition to federal income tax.

How does Ohio compare to neighboring states for CD tax treatment?

Ohio's top CD interest tax rate (3.99%) is lower than Michigan (4.25%), Indiana (3.15% flat), Pennsylvania (3.07% flat), and West Virginia (up to 6.5%). Compared to high-tax neighbors like New York or Illinois, Ohio's CD interest tax treatment is relatively favorable.

Ohio CD Rates 2026 — Best CDs Available to OH Residents

Ohio residents pay 0%–3.99% state income tax on CD interest in 2026 — a moderate tax burden compared to high-tax states. The best CD rates available to Ohio residents reach 4.75% APY through FDIC-insured online banks, with major national banks headquartered in Ohio (Fifth Third, KeyBank, Huntington) offering additional local options.

Rates shown are as of May 2026 and change frequently. Verify current rates directly with the institution before opening.

Best CD Rates Available to Ohio Residents (May 2026)

Institution	Type	12-Month APY	Min. Deposit
Online banks (Ally, Marcus, Discover, CIT)	Online	4.50–4.75%	$0–$2,500
Wright-Patt Credit Union	OH credit union	4.00–4.50%	$500
Kemba Financial Credit Union	OH credit union	3.75–4.25%	$500
Fifth Third Bank (standard)	National bank (OH HQ)	0.01–0.75%	$500
KeyBank (standard)	National bank (OH HQ)	0.01–0.50%	$2,500
Huntington Bank (standard)	National bank (OH HQ)	0.01–0.50%	$1,000

Ohio State Income Tax on CD Interest (2026)

Ohio Taxable Income	State Rate
$0–$26,050	0%
$26,051–$100,000	2.75%
Over $100,000	3.99%

After-tax yield on a 4.65% APY CD for a typical OH resident (22% federal + 2.75% state):

Total marginal rate: ~24.75%
After-tax yield: ~3.50%

What $10,000 Earns at Top Available OH Rates

Term	APY	Gross Interest	After-Tax (22% fed + 2.75% OH)
6 months	4.40%	~$219	~$165
12 months	4.65%	~$465	~$350
2 years	4.10%	~$838	~$631

Ohio’s Big-Three Bank Headquarters

Ohio is unusual in hosting three major US bank headquarters:

Fifth Third Bank (Cincinnati) — Standard CDs: 0.01%–0.75%; occasionally offers promotional CDs
KeyBank (Cleveland) — Standard CDs: 0.01%–0.50%; requires $2,500 minimum
Huntington Bank (Columbus) — Standard CDs: 0.01%–0.50%; various terms available

Standard rates at all three are well below online bank competitors. All periodically offer promotional CDs — check their websites for current special offers.

Notable Ohio Credit Unions

Wright-Patt Credit Union — Dayton area; one of the largest Ohio credit unions; open to many Wright-Patterson AFB affiliates and Dayton-area residents
Kemba Financial Credit Union — Columbus-based; open to many central Ohio residents and employers
Superior Plus Credit Union — Cleveland-area option

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy