Ohio residents pay roughly 0%–3.99% state income tax on CD interest — a moderate tax burden compared to high-tax states. The best CD rates available to Ohio residents reach that differ by bank and term at FDIC-insured online banks, with major national banks headquartered in Ohio (Fifth Third, KeyBank, Huntington) offering additional local options.
Bank rates below were read from each bank’s own page, with the date shown under the table. Verify current rates directly with the institution before opening.
Best CD Rates Available to Ohio Residents (Online Banks, October 2026)
| Institution | Type | 12-Month APY | Min. Deposit |
|---|---|---|---|
| Popular Direct | Online | 4.50% | $10,000 |
| Marcus by Goldman Sachs | Online | 4.40% | $500 |
| EverBank | Online | 3.50% | $1,000 |
Rates read from each bank’s own page: Popular Direct October 5, 2026, Marcus October 15, 2026, EverBank October 9, 2026. These online banks accept customers in any state. We did not check rates at local credit unions and community banks, so they are not listed with rates here; ask them directly.
Ohio State Income Tax on CD Interest
Ohio uses a progressive income tax structure with a bottom bracket at 0% and a top marginal rate around 3.99%. Confirm the current-year bracket thresholds at tax.ohio.gov, since Ohio periodically adjusts both the brackets and the top rate.
Illustrative after-tax yield on a hypothetical 4.50% APY CD for a typical OH resident (22% federal + ~2.75% state, illustrative mid-bracket rate):
- Total marginal rate: ~24.75%
- After-tax yield: ~3.51%
What $10,000 Earns at Top Available OH Rates
| Term | APY (Popular Direct) | Gross Interest | After-Tax (22% federal + ~2.75% OH, illustrative) |
|---|---|---|---|
| 6 months | 4.35% | ~$215 | ~$162 |
| 12 months | 4.50% | ~$450 | ~$339 |
| 2 years | 4.70% | ~$962 | ~$724 |
Figures use Popular Direct’s APYs as of October 5, 2026 (it requires $10,000 to open a CD) and the compounding convention A = P(1+APY)^years.
Ohio’s Big-Three Bank Headquarters
Ohio is unusual in hosting three major US bank headquarters:
- Fifth Third Bank (Cincinnati) — Standard CDs are typically well below online-bank rates; occasionally offers promotional CDs
- KeyBank (Cleveland) — Standard CDs are typically well below online-bank rates; requires $2,500 minimum
- Huntington Bank (Columbus) — Standard CDs are typically well below online-bank rates; various terms available
All three 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
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