Featured 1-Year CD Rates

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Nationwide Bank
2.05*%$100k-Nationwide Bank60 Month IRA (Traditional, Roth, CESA, SEP)
2.05*%$100k-Nationwide Bank60 Month CD
1.85*%$100k-Nationwide Bank48 Month IRA (Traditional, Roth, CESA, SEP)
1.85*%$100k-Nationwide Bank48 Month CD
1.65*%$100k-Nationwide Bank36 Month IRA (Traditional, Roth, CESA, SEP)
1.65*%$100k-Nationwide Bank36 Month CD
1.47*%$100k-Nationwide Bank24 Month IRA (Traditional, Roth, CESA, SEP)
1.47*%$100k-Nationwide Bank24 Month CD
1.16*%$100k-Nationwide Bank18 Month CD
1.10*%$100k-Nationwide Bank12 Month IRA (Traditional, Roth, CESA, SEP)
1.10*%$100k-Nationwide Bank12 Month CD
Accounts mentioned in this post. Rates as of May 6, 2016.

Higher Short- and Long-Term CD Rates at Nationwide Bank


Nationwide Bank has increased some of its CD and IRA CD rates. At first I thought it was just the 5-year CD rate. This would follow the actions of several banks in the last month. However, some of the shorter-term CD rates also went up. So that’s an especially nice sign. Thanks to DA member OldGuy who first reported on this rate increase in the forum.

The 5-year CD rates had the largest increase. They went up by 15 bps. The 4-year CD rate had a slight increase of 3 bps. On the shorter end, the 18-month CD rate increased by 9 bps and the 12-month CD rate increased by 5 bps. Below is a list of Nationwide Bank's most competitive CD and IRA CD rates for a minimum $100,000 deposit as listed at the bank's rates page as of 9/9/2013. Rates are 5 basis points lower for deposits under $100,000.

  • 1.97% APY 5-year Jumbo CD and IRA CD (was 1.81%)
  • 1.63% APY 4-year Jumbo CD and IRA CD (was 1.60%)
  • 1.26% APY 3-year Jumbo CD and IRA CD (no change)
  • 1.20% APY 2-year Jumbo CD and IRA CD (no change)
  • 1.09% APY 18-month Jumbo CD (was 1.00%)
  • 1.06% APY 1-year Jumbo CD and IRA CD (was 1.01%)

In 2012 Nationwide Bank increased the early withdrawal penalty on its long-term CDs from 180 days of interest to 360 days. So these CDs are no longer good deals if you think you might want to withdraw the money early. However, the bank did not change the penalty on existing CDs. Two credit unions weren't so nice (see post). Below are excerpts from the account terms and conditions:

If your account has an original maturity of four years or greater and was opened after June 9, 2012:
The fee we may impose will equal 360 days interest on the amount withdrawn subject to penalty.

The penalty for shorter-term CDs is much less:

If your account has an original maturity of 12 months, but less than 24 months:
The fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.

Another thing to note about Nationwide Bank is that it specifically states that early withdrawal of principal is allowed (subject to the penalty). According to the terms and conditions document:

You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

Some banks say in their disclosure that withdrawals of principal require their consent.

Certificate of Deposit Details

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

  • $500 minimum deposit
  • 10 calendar-day grace period at maturity
  • Interest is compounded daily and credited monthly
  • You can withdraw interest any time during the term of crediting after it is credited to your account.
  • Rate locks at the time you apply online or by phone. You have 30 days to fund the account. (CSR)
  • You can fund the CD with an ACH transfer. Trial deposits are done to verify external account. Mailing a check and a wire transfer are also options (CSR)
  • Beneficiaries can be added using its online form (pdf)
  • At maturity you can provide instructions by phone or secure message to close the CD (CSR)
  • At maturity ACH transfer is not an option to receive the funds. In addition to a check and wire transfer ($25 fee for outgoing wire), they can transfer funds to your Nationwide Bank 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 (opened by phone)
  • Custodian (UGMA/UTMA) accounts
  • Traditional IRA and Roth IRA accounts

Nationwide Bank Overview

Nationwide Bank is a sizable bank with $5.19 billion in assets. Its overall health score at DepositAccounts.com is 5 stars (out of 5) with a Texas Ratio of 0.80% (excellent) based on June 2013 data. Please refer to our financial overview of Nationwide Bank for more details. The bank has been a FDIC member since 1998 (FDIC Certificate # 34710).

How These CD Rates Compare

The highest 5-year CD rate that’s nationally available is 2.05% APY at iGObanking.com. Other than Nationwide Bank, the highest 1-year CD rate is 1.05% APY at a few internet banks. You can get 1.10% APY at Connexus Credit Union, but this requires an active checking account. There’s also a special 2.00% APY 1-year CD at Communitywide Credit Union, but as readers have commented, this CD isn’t easy to open. These rates are accurate as of 9/9/13.

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 DepositAccounts.com.

Related Pages: Nationwide Bank, Columbus, CD rates, IRA rates

Related Posts

Anonymous   |     |   Comment #1
Pathetic rates.
paoli2   |     |   Comment #2
2% of something is better than 0% of nothing.  Only pathetic if we never get anything.
Anonymous   |     |   Comment #3
Paoli is right. So many people have lost money on non-CD investments that the return ON your principal becomes less important than the return OF your principal!
Anonymous   |     |   Comment #5
#3, Being to conservative is a suicide. You are forgetting the inflation factor. Just compare your real-estate taxes, all the insurances and grocery bills from the last year, then tell us if you are protecting your principial by putting it under the matrass.

 Paoli, speak for yourself, the rates are pathetic.
paoli2   |     |   Comment #6
#5  Who would I be speaking for if not for myself?  My posts are "my" opinions and you don't have to agree with me.  It depends upon how much one has been able to save for 2% to actually bring in something worthwhile.  However, 2% of a good amount of savings can still bring in worthwhile checks.  This is why I have always preached for people to "oversave".  If you save more than you need you can survive when rates crash and when they go up you are swimming with the dolphins!  Am I happy with just 2%? Of course not!  Why do you think I have done so much to try to get higher rates for all of us? 
Hoody (anonymous)   |     |   Comment #4
So far NFCU seems to be lagging behind, they should be @2% by now too, H they and PenFed used to be the top of the pile on rates.

I have to deal with NFCU here in my area because the main banks are worse, (ST, BBT, WF) Wells Fargo is nuts!, for a bank its size its the lowest of the bunch, I just use them for direct deposits and free checking.
Anonymous   |     |   Comment #7
Hoody: I think the big banks will continue to keep deposit rates way below average because they have affiliated brokerage and annuity businesess that are more profitable. As rates rise, the banks and CUs that have traditional bank and CU lines of business will offer better rates than the bigger banks that have affiliated businesses.
Anonymous   |     |   Comment #8

your right on it, I am on the same sheet, its no fun getting 2% but as you stated, it all depends on the pile you are using.And just how much you really need to stay away from the IRS  or higher SS costs :))

a million @2% is still 20K of dispsible income added to a retirement and SS, which can put someone easily into the 60 to 70K a year income bracket, and at at 65 or 70, in a low cost enviroment with everything paid for and no kids and just the tax's and normal living expenses, hell it will last the rest of a lifetime at that stage if planned right and your living sttandard is kept the same. when real estate tax is no morer than 100 bucks a month, and the car you drive gets 30 mpg city and 40 highway, and you migh put 5k a year on it lolol.

There may not be thousands of dollar cruses or new 911's in there, but hell who cares at that point when you've travled the world 2 times over.
mustsavemore   |     |   Comment #9
With all the CDs #6 has, I sometimes wonder if he/she's in the 1%
paoli2   |     |   Comment #10
mustsave:  Why don't you do more about saving your own money and not be concerned with my finances. What does "all" mean?  Do you think I am the only poster on DA that has more than ONE CD?  I am sure we have posters here who can outdo me by quite a lot and I am happy they can.  It means they did what it took to get there.  Why don't you instead of making remarks about my finances.  If I can "survive" on 2% interest it may be more that I am willing to live more frugally than you and not that I am wallowing in CDs!
Anonymous   |     |   Comment #11
If I remember correctly the CD rates have usually been in a 7 year or a little longer cycle. I noticed this after we started IRA's in 1979. After each recession the rates have become a little lower just as the recessions have become a little worse for workers. Look at the civilian workforce since the 2000 recession and 9-11. The newly hired workers during this period were mostly goverment jobs tied to homeland security and border security and many of our young civililans enlisted.  Few new civilian jobs were created.  
Pete (anonymous)   |     |   Comment #12
Anonymous #8:  Where are the real estate taxes "no more than 100 bucks a month" ????  Here in the suburbs of NY, a small and I mean small house on a small lot pays $10,000-$12,000 a year in property taxes.  And we're not anywhere near the big city.  That's why we bought those Israeli bonds @ 4.00% plus.  Interest 2x a year, never defaulted.  Ka-ching.
Anonymous   |     |   Comment #13
Anonymous #8, you must live in a tiny condo or mobil home for such property taxes to be real.
Anonymous   |     |   Comment #14
shrug, well its a 3 bdrm 1100sqft house on 3/4 ak land. its assessed at around 100K, tax on it last year was $1,032

05 Corrola, gets 26-30 around this town, 40-43 on trips.

No kids, dogs, cats, birds, reptiles, or insects as pets.

Don't bother "renevating" just replace what breaks. Hope the roof caves in the day they carry my dead A out the door.

mid south VA 
Hoody (anonymous)   |     |   Comment #15
good grief, just stopped by BBT and ST to see what the rates are, as my CD at ST is comming up Nov, and bbt' in Feb ..................

unreal, bbt runs from .30 for year to .50 for "5 YEAR"  lolol

ST isn't any different, in fact the are .10 LESS for the time frames.......

so NFCU looks good in compareson @.55 for the mny mkt and at least near 1% for the 18mo CD

But Wells Fargo takes the cake at .10 lololololol................. and I think my checking there w/direct deposit is getting a whoping .01 rof.............. I just move any excess over now and than to NFCU.

man o man

I may end up having to go with Navy and ladder a couple CD's even though it will put me over the insurance limit............... I will have to wait and see.
paoli2   |     |   Comment #16
Hoody:  Welcome to the real world of CDs and Mylanta for the heartburn of finding decent rates.  I had to gas up the car and drive about 100 miles to find a bank giving us 2% for a 5 year CD.  I tried our credit unions but their rates were at the bottom.  Why don't you check out the smaller community banks in the area outside of your city and see if you can find that "one" who will give you at least 2%.  You will have to go out for at least 5 years but to me it is worth it.  The bigger banks are laughable (or cryable) with their unbelievealble low rates.  Don't just stick to looking at the banks on DA or even Best Cash Cow.  You can find what you need by doing some research on your own if you are willing to put in the time and effort.  If you do find others, please remember to come back here and share any with Ken so your neighbors can be helped by your individual research.  Best of luck to you!
Anonymous   |     |   Comment #17
paoli2  Why don't you share some of your  "research on your own"  techniques?
paoli2   |     |   Comment #18
#17  I have shared my "researach" many times on DA.  I basically just did it again in my post to Hoody.  We all probably live in different states and cities so we have to use our particular city as the base.  Decide how many miles you are willing to "drive" to find the bank or credit union that has the rate you are looking for.  With me it is now up to 100 miles.  I started at 50 miles,  years ago,  but each year the miles get longer it seems.  I then trace the institutions north, south, east and west out 100 miles and start finding any smaller community banks I can in the area I am willing to drive to.  When I find them, I check to see if they are already on Ken's list or Best Cash Cow or other lists.  Even if they are and their rates aren't listed on their website, I call them.  I get DP to help me make all the phone calls to verify the rate will still be good for when we get there.   If the rates in my local banks are still trash and I see them listed in the communities I check, I don't bother with these same banks.  My experience has shown me the big banks like Chase and PNC seem to have the same low rates in the area I am checking. 

Many times Ken will have several 2% rates (which I am willing to take for a 5 year CD "at this time") but the banks are either further than I am willing to drive or for credit unions I cannot get into.  I used to use banks all over the US but now that we are seniors, I have a personal reason for why I want to only keep the money within "driving" range.  With the world in such turmoil, I like to know I can get to the money within a couple of hours and have it in hand if I need to take it out.  Many will not want to bother with my method or think it is too much work to do for just 2%.  It is not for everyone but it has worked for me especially these past years since interest rates have sunk.  I just cannot accept .50% for a 5 year CD!

A couple of weeks ago, when we were at the bank that I was able to find within our driving criteria and got our 5 yr 2% CD, I asked the lady why none of the other banks in the town were competing with them by also at least having the 2%.   She said because they were much bigger banks and didn't need the deposits as much as they did since they were just a small community bank.  She suggested I stick with the smaller banks while rates are so low.  (That was what I was doing so it seems to be good advice).  I always check the rating system for any small bank on here, Bankrate, Bauer, before I commit any deposits to it, also.  Even tho they all are insured, I don't want to start off with any bank that may be wobbling on the edge of serious problems.  And that is it in a nutshell.  No big deal and not something a lot of people would want to do.  It's not the way I want to do it but right now it's "survival of the fitess" when it comes to interest rates, and I do what I have to do to survive without having to keep cashing in CDs.