Dedicated to Deposits: Deals, Data, and Discussion
Third Federal Savings and Loan (OH)2.00%$500-72 Month CD
Accounts mentioned in this post. Rates as of August 21, 2014

Competitive CD Rates at Third Federal in FL & OH - Available Nationwide


Third Federal Savings and Loan (OH)

When I first reported on the 6-year CD at Third Federal Savings & Loan 3 years ago, the yield was 4.00%. Several commenters considered a rate that low and a term that long as "crazy". Interest rates are now much lower, and I'm sure many would consider Third Federal's latest 6-year CD as crazy. The rate is now 2.00% APY, and I'm afraid that is competitive in today's awful interest rate environment. There's also a 1.80% APY 5-year CD. Minimum deposit is $500 ($100 for an IRA CD).

If 6 years is too long for you, they also have two CD specials with shorter terms. The 32-month CD special is fairly competitive. It has a 1.35% APY. The 19-month CD isn't quite as good. Its rate is only 1.00% APY. Minimum deposit is $500.

These rates are listed on Third Federal's CD page as of 3/1/2012.

According to the bank's disclosure, the penalty is 180 days of interest for terms of more than 1 year to under 3 years and 360 days of interest for terms of 3 years or more.

In addition to opening the CD at a branch, there's an online application for the regular CDs. Funding can be done electronically via ACH or by check. According to the application FAQ, the maximum deposit by ACH is $100,000 and the maximum by check is $500,000. The special CDs cannot be opened online. Those can be opened by phone. IRA CDs can only be opened at a branch.

For those who prefer opening CDs at an office, Third Federal branches are located in Ohio and in South Florida (both on the east and west coast).

Don't confuse Third Federal with Fifth Third. They're two different banks.

Third Federal is a sizable bank with $11 billion in assets. It has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 11.47% (above average). Please refer to our financial overview of Third Federal for more details. The bank has been a FDIC member since 1938 (FDIC Certificate # 30012).

How These CD Rates Compare

In today's awful interest rate environment, it's hard to find any CD with yields of 2.00%, especially at a bank. For banks, the highest rate at an internet bank is 2.45% APY at Discover Bank, but this is a 10-year CD. Its 7-year CD has a 2.00% APY (AAA members can get rates that are 5 basis points higher.)

SunTrust Bank also has a 2.00% APY 6-year CD (see review).

The bank with the shortest term CD that has a 2.00% APY is US Bank. This is a special CD with a 59-month term.

You can get much higher rates with all-access credit unions like Pentagon Federal Credit Union (2.50% APY 7-year CD) and INOVA Federal Credit Union (2.50% APY 6-year CD).

These rates are accurate as of 3/1/2012.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of

  Tags: CD rates, Third Federal Savings and Loan (OH), Ohio, Florida

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Comment #1 by Doug (anonymous) posted on
PenFed lowered the 1 Year CD rate to .90% from 1.15%