Ohio-based Nationwide Bank raised the rates on its 24-month CD (1.51% APY) and 36-month CD (1.70% APY). The minimum opening deposit to earn these APYs is $100K, with no maximum balance cap.
Both CDs are also offered with a $500 minimum deposit, with rates a uniform 5 basis points lower.
|1.41*%||$100k||-||Nationwide Bank||36 Month IRA (Traditional, Roth, CESA, SEP)|
|1.41*%||$100k||-||Nationwide Bank||36 Month CD|
|1.25*%||$100k||-||Nationwide Bank||24 Month IRA (Traditional, Roth, CESA, SEP)|
|1.25*%||$100k||-||Nationwide Bank||24 Month CD|
The CDs are also offered as IRAs (Traditional, Roth, CESA, and SEP), earning the same APYs with the same funding requirements.
As stated on Nationwide Bank’s Terms and Conditions page, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of two years or greater:
The fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
Headquartered in Columbus, Ohio, Nationwide Bank is an internet bank that has no brick-and-mortar branch locations. Its products (including all of the above mentioned CDs) are available nationally, and must be opened utilizing the bank’s online application.
According to Nationwide Bank’s FAQ:
To open a certificate of deposit account with another person, you will need to have that person's ID and residence information, too.
You can use our online application to open an individual or joint account with Right of Survivorship and with up to three co-signers.
You'll need to fund your account with an initial deposit that you can electronically transfer from another personal bank account or send by check.
Nationwide Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 1.34% (excellent) based on September 30, 2015 data. In the past year, Nationwide Bank increased its total deposits by $556.25 Million, an excellent annual growth rate of 12.69%. Please refer to our financial overview of Nationwide Bank for more details.
Nationwide Corporation started out as an auto insurer for farmer in Ohio in the 1920s before growing into the large company that it is today. Nationwide Bank (FDIC Certificate # 30470) was originally established in 1998 as the Nationwide Trust Company, and the name was changed to Nationwide Bank in 2007 when the Bank began offering products to the public.
How the CD Compares
When compared to 137 similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, Nationwide Bank’s 24-Month CD APY currently ranks second, regardless of minimum deposit.
When compared to 139 similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, Nationwide Bank’s 36-Month CD APY currently ranks third, regardless of minimum deposit.
The above rates are accurate as of 1/18/2016.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.