High-Yield Savings Accounts in Ohio

High-yield savings accounts help you grow your finances to secure your future, owing to their better interest rates. We list out the top 10 high-yield savings accounts in Ohio.
High-Yield Savings Accounts in Ohio
Let's examine the top 10 high-yield savings accounts in Ohio and consider their features, benefits, and considerations.
In this article

Ohio is an economic hub, thriving with businesses and employment opportunities. High-yield savings accounts help you grow your finances to secure your future. These accounts offer better-than-average interest rates. We list out the top 10 high-yield savings accounts in Ohio. Let’s explore them.

10 High-Yield Savings Accounts in Ohio

Let’s examine the top 10 high-yield savings accounts in Ohio and consider their features, benefits, and considerations.


Beem is a wallet app that provides its users with various financial services. Although Beem doesn’t offer high-yield savings accounts alone, its platform offers multiple high-yield savings accounts from banks and financial institutions offering competitive APYs. You can compare them to find the one that suits your needs.

APY RateMonthly FeesProsCons
5.00%.Nil.Exceptional APY.
Effortless savings management.
FDIC-insured funds.
No monthly fees.
No in-person banking services.
No customer branches.

Synchrony Bank

This lender offers high-yield savings accounts without worrying about minimum deposits, fees, or maintaining a minimum balance. Synchrony Bank’s High Yield Savings account currently offers an attractive interest rate of 4.75% APY. Your interest compounds daily and is credited to your account monthly. Accessing your cash is convenient through any Accel or Plus-branded ATM nationwide. Using other ATMs makes you eligible for up to $5 monthly refunds. These accounts are tiered, so those with the highest balances will earn the highest interest rates.

APY RateMonthly FeesProsCons
4.75%.$0.Convenient online banking with MySynchrony app.
No minimum deposit or balance.
No monthly fees.
Only the highest balances earn the highest interest.
No proprietary ATM network.

Ally Bank

Ally Bank provides a hassle-free experience for high-yield savings accounts with no minimum balance and no maintenance fees. Tracking your money is easy using Ally’s robust online or mobile banking apps. You’ll enjoy the highest interest rates if you save $25,000 or more. Ally Bank provides a high-yield online savings account with an interest rate significantly higher than the national average of 0.45% as of May 20, 2024. Plus, you can reach customer service by phone 24/7 for any assistance.

APY RateMonthly FeesProsCons
4.05%.Nil.No overdraft fees.
No ACH transfer fees.
No monthly maintenance fees.
No minimum balance to open.
No incoming wire fees.
Lower app rating on Google Play.
No way to deposit cash.


Citi’s Accelerate Savings Account requires meeting criteria like setting up direct deposit or maintaining a minimum balance to avoid monthly fees, it doesn’t demand an initial deposit or cap your earnings. With a competitive APY rate of 4.45%, Citi ensures your savings grow steadily. Moreover, their nationwide network of ATMs adds convenience to your banking experience. Despite some challenges in avoiding monthly fees and potentially finding higher rates elsewhere, Citi’s commitment to customer service ensures reliable support.

APY RateMonthly FeesProsCons
4.45%Varies.Access to Citi ATMs nationwide.
No minimum deposit.
No cap on interest earnings.
Well-rated customer service.
Avoiding the monthly fee can be difficult.
Higher interest rates may be available elsewhere.

SFGI Direct Savings

SFGI Direct, the online branch of Summit Community Bank in West Virginia, offers a high-yield savings account. You can start earning interest with just one dollar, but you need to deposit at least $500 and no more than $25,000 to open the account. There are no monthly maintenance fees, but fees apply for inactivity or paper statements. The account provides excellent customer service through secure messaging and phone support during regular banking hours.

APY RateMonthly FeesProsCons
4.26%.Nil.Competitive interest rate.
No monthly fees.
Scheduled fund transfers.
Access via Summit Community Bank app.
No physical locations or ATM access.
Only savings accounts available.
Minimum initial deposit required.
Can only link to one outside bank account.
No business accounts.

People’s First Savings Bank

People’s First Savings Bank offers a variety of savings accounts tailored to different needs. Among the options, the First Savings account requires only $20 to open and has no daily minimum balance. These accounts pay interest and offer online and internet banking. With a competitive APY of 4.00%, People’s First Savings Bank makes it easy to start saving with even small amounts.

APY RateMonthly FeesProsCons
4.00%.Nil.Various account optionsLow opening deposit requirements.
Earns interest on very low balances.
Online and internet banking.
Some accounts have no ATM card.
High opening deposit for personal savings.

Third Federal Savings and Loan

Third Federal Savings and Loan, with 37 locations across Ohio and Florida, offers a high level of convenience with numerous branches and ATMs. They also partner with Fifth Third Bank to provide even more free ATMs. Their savings account comes with no monthly maintenance fees and offers easy access to funds. Whether you choose to open it as a regular savings account or an IRA, they provide savings calculators to help you plan and meet your financial goals, making it a convenient option for your savings needs.

APY RateMonthly FeesProsCons
4.00%.Nil.Many branches and ATMs.
Flexible savings options.
No limit on monthly transactions.
Easy access to your funds.
Some lack of transparency about fees.

KEMBA Financial Credit Union

KEMBA Financial Credit Union serves residents of Central Ohio, offering a modern and flexible way to bank with 12 branches in the Columbus area. They provide top-notch digital banking solutions. KEMBA’s high-yield savings accounts help you save and grow your money efficiently. With convenient access through digital banking, your funds are always within reach when needed.

APY RateMonthly FeesProsCons
Up to 4.75%.Nil.Savings periods from 3 months to 7 years with fixed interest rates.
Higher earnings than traditional savings accounts.
Low minimum balance of just $500.
Best-in-class digital banking.
Award-winning member services.
Membership requirements may apply.
Limited branch locations.

Read Related Article: High-yield savings accounts in New Jersey.

Ohio Valley Bank

Ohio Valley Bank (OVB) offers a straightforward online savings account to help you grow your savings quickly. With no monthly maintenance fees and simple access to your funds, managing your money is convenient. You can make digital transfers or mobile deposits and automate your savings with direct deposits or scheduled transfers. All accounts are FDIC-insured up to $250,000 per depositor, ensuring your money is safe.

APY RateMonthly FeesProsCons
4.10%.Nil.Open an account with as little as $1.
No need to visit a branch.
No monthly maintenance fees.
Easy access to your money.
Must be 18 years or older and a U.S. resident.
Only available to open and manage online.
Account opening fee: $10.
Account closing fee: unknown.

Ohio Catholic Federal Credit Union

Ohio Catholic Federal Credit Union aims to offer its members the best possible rates and services for their High Yield Savings Accounts funds. A minimum initial $5 deposit is required to open an account, and maintaining a $5 balance grants access to all the credit union’s products and services. This account features low or no monthly fees, robust security, and excellent customer service, making saving easier for members.

APY RateMonthly FeesProsCons
3.00%.Low or none.Low rates and fees.
Cutting-edge security.
Member-focused services.
Strong community presence.
Requires a Share Savings Account with a $5 deposit.
Limited physical branch locations.


Choosing the proper high-yield savings account in Ohio can pave the way for financial success. Such accounts are accessible, flexible, and secure, offering steady growth. Whether you prioritize APY rates, convenient digital banking methods, or community-focused services, there’s a savings account tailored to your needs. Utilize the finance app Beem, where you can compare the offerings by banks and financial institutions, and select the right option that suits your needs.

Read Related Article: High-yield savings accounts in North Dakota.


How do I open a high-yield savings account in Ohio?

Visit the website or branch of the bank or credit union offering the account. You’ll typically need to provide personal information such as your name, address, Social Security number, and a form of identification.

Are high-yield savings accounts in Ohio insured?

Yes, such accounts offered by reputable banks and credit unions are usually insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration up to certain limits, ensuring the safety of your deposits.

What are the minimum balance requirements for high-yield savings accounts in Ohio?

The requirements vary depending on the financial institution and the specific account. Some accounts may have no minimum balance requirement, while others may require a minimum initial deposit or ongoing balance to earn the advertised interest rate.

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An editor and wordsmith by day, a singer and musician by night, Allan loves putting the fine in finesse with content curation. When he's not making dad jokes or having fun with puns, he's constantly looking to tell stories out of everything.


This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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