Updated
Fact Checked
Eric McWhinnie
Nationwide CD rates include one of the highest we've seen in recent days. If you're interested in making your money work for you, a Nationwide CD may be precisely what you're looking for.
In this Nationwide CD review, you'll learn more about the insurer's interest rates, see how they compare to the competition, and discover whether a Nationwide CD is the money-growing strategy you're looking for.
Nationwide CD Rates for 2024
Rates as of May 1, 2024
APY = Annual Percentage Yield
Nationwide CD
Bottom Line
Most of Nationwide's CD offerings have APYs far below that of other banks -- unless you are flexible enough to choose the term offering the best rate. But at least you can open one for a minimum deposit of just $500.
MINIMUM DEPOSIT $500
| 3 Mo. APY | 6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|---|
| 0.20% | 0.20% | 0.20% | 4.75% | 2.85% | 0.20% | 0.20% | 0.20% | 0.20% |
Compare Nationwide CD Rates
Compared to other banks, only Nationwide's 12-month CD is truly competitive among the best CD rates at this time. However, that rate is high enough to make your money grow at a healthy pace.
Rates as of May 1, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
|
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Nationwide CD Review
If there's a "Nationwide is on your side" jingle running through your head right now, that's because Nationwide is a well-respected insurance company and household name. When you invest in a Nationwide CD, you're actually working with Axos Bank, a federally chartered savings bank. Through a limited marketing relationship, Nationwide and Axos have joined together to offer customers access to federally insured CDs.
Nationwide 12-month CD
Pros
- Highly competitive APR
- $500 minimum deposit, offering a lower threshold to get started
- Guaranteed returns
Cons
- Auto-renews, a feature that may not work for everyone
- Early withdrawal penalty
The ability to get in on a high rate without a huge outlay of cash makes a Nationwide 12-month CD accessible to folks who may not normally invest.
Nationwide 3, 6, 9, 18, 24, 36, 48, and 60-month CDs
Pros
- Wide range of maturity options
- $500 minimum deposit
- Guaranteed returns
Cons
- Lower rates than its competitors on all but 12-month CDs
- CDs automatically renew, which may be confusing for a first-time investor
Who is a Nationwide CD right for?
A Nationwide CD is a great option for anyone who wants to earn a healthy APY and is comfortable tying their money up for 12 months. Nationwide may also be a good fit for customers who prefer doing business online.
Other Nationwide CD accounts
Nationwide, through Axos, currently offers no other CD types.
Bottom line: Nationwide CD rates
Nationwide CD
- 3 APY: 0.20%
- 6 APY: 0.20%
- 9 APY: 0.20%
- 12 APY: 4.75%
- 18 APY: 2.85%
- 24 APY: 0.20%
- 36 APY: 0.20%
- 48 APY: 0.20%
- 60 APY: 0.20%
Rates as of May 1, 2024
APY = Annual Percentage Yield
Term
Nationwide CD
3 Mo.
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
0.20%
0.20%
0.20%
4.75%
2.85%
0.20%
0.20%
0.20%
0.20%
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
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Nationwide has been in business since 1925 and is a name you can trust.
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Yes, as long as you're willing to invest for 12 months, a Nationwide CD can be a valuable financial tool.
Our Banking Experts
Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.
Fact Checked
Eric McWhinnie
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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