Competitive CD Rates at Nationwide Bank - Nationally Available

Nationwide Bank is offering a few competitive rates on its CDs. The best ones include a 2.00% APY 12-month CD and a 2.20% APY 18-month CD. Minimum deposit is $500. The rates are 5 basis points higher for a $100,000 minimum deposit. These rates are listed at Nationwide Bank's CD page as of 9/04/09. According to the CSR, rates are usually updated on Mondays (Tuesday if Monday is a holiday). However, I was told that the CD rate will lock at the time you submit the online application.

Nationwide Bank also has a competitive money market account with a 1.80% APY on all balances as of 9/04/09. I did a full review of this account last year.

If you're looking for competitive MMA and CD rates from a strong bank this may be a good choice. I've also been pleased with their customer service during my recent calls. Customer service is available 8am to 8pm ET Monday through Friday at 1-877-422-6569.

Some of the important CD details described in the bank's terms and conditions and from my conversation with the CSR include:

• Early withdrawal penalty is 90 days interest for terms of 6 months to under 24 months (180 days for 24 months and longer)
• 10 calendar grace period at maturity
• Interest is compounded daily and credited monthly
• You can choose to have interest paid by check monthly (CSR)
• Rate locks at the time you apply online or by phone (CSR)
• You can fund the CD with an ACH transfer. Trial deposits are done to verify external account. Mailing a check is also an option (CSR)
• No hard credit inquiry (CSR)
• Beneficiaries can be added by phone (CSR)
• At maturity you can provide instructions by phone to close the CD (CSR)
• At maturity ACH transfer is not an option to receive the funds. In addition to a check, they can transfer to your Nationwide liquid account (CSR)

Another plus with Nationwide Bank is that they offer types of accounts that many online banks don't offer. These include:

• Trust accounts
• Custodian (UGMA/UTMA) accounts
• Traditional IRA, Roth IRA and Educational IRA accounts

Nationwide Bank was established in 1998 and is a member FDIC (Certificate # 34710). They continue to be a financially strong bank with high ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 3/31/09 financial data.

Other Competitive Certificate of Deposit Rates

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Tags: Nationwide Bank, CD rates, IRA rates