Nationwide CD rates of April 2024

Some of the banking products in this post are no longer available. Please see the issuer site for current product information.

Nationwide offered fixed-rate certificates of deposit (CDs) through a partnership with Axos Bank (although that partnership came to an end on March 15, 2024). Despite Nationwide’s partnership with Axos bank coming to an end, we are keeping an eye out for other partnerships in the future. There was a variety of CD terms to choose from, but most had low rates — only the 12-month CD stood out with a competitive annual percentage yield (APY). If you’d be pleased with a one-year term, a Nationwide CD could have been for you; if you’d like a shorter or longer CD, shop around for a higher rate.

Account details and APYs are accurate as of April 10, 2024 and were found using the ZIP code 33966.

About Nationwide CDs

The popular insurance company offered CDs provided by online bank Axos.

Nationwide had fixed-rate CDs with terms ranging from three to 60 months and a minimum deposit requirement of just $500. Most Nationwide Certificates of Deposit offered abysmal APYs of only 0.20%, but the 12-month CD had a competitive 4.75% APY. All CDs had daily compounding interest, which is credited to your account monthly.

There is a penalty if you withdraw your money before your CD reaches maturity. It ranges from 1.5 to 24 months of lost interest, depending on the CD term. Note that if the certificate hasn’t accrued enough interest to cover the fee, any difference comes out of its principal.

OVERVIEW
Minimum opening deposit	$500
Term lengths	3, 6, 9, 12, 18, 24, 36, 48 and 60 months
APY range	0.20% to 4.75%
Compounding schedule	Compounded daily, credited monthly
Early withdrawal penalty	Three- to five-month terms: 1.5 months’ worth of interest Six- to 11-month terms: three months’ worth of interest 12- to 23-month terms: six months’ worth of interest 24- to 35-month terms: 12 months’ worth of interest 36- to 47-month terms: 18 months’ worth of interest 48-month terms or greater: 24 months’ worth of interest
Grace period for penalty-free withdrawals after maturity	10 days

See MoreSee Less

How to get a Nationwide CD

You were able to open a Nationwide CD account in minutes, regardless of whether you were an existing customer. If you already had an account through Axos Bank, you could simply log in online to open a CD. 

If you didn’t have an account, you could have opened one with the following information:

• A government-issued ID, such as a driver’s license.
• A Social Security number.
• A valid U.S. mailing address.
• A U.S. phone number.
• A valid email address.

To sign up, you must be a U.S. citizen or resident alien and 18 or older. You can also open an account for a teen between the ages of 13 and 17. In that case, the parent or guardian is the primary account owner and the teen is the secondary joint owner.

Once you created your online account, you were able to select a CD term, connect a funding source and deposit money into the account.

How much can you earn with a Nationwide CD?

Your earnings on a Nationwide CD depended on three key factors: the term, the APY and the deposit amount.

The table below shows the earnings on a $10,000 deposit for each Nationwide CD term at its current rate during its partnership with Axos Bank. But since interest rates change often, these projections may differ when you open a CD. You can use our CD calculator to run the numbers. 

As you can see, most Nationwide CD terms had low APYs and, therefore, low earnings. The highest APY was on the 12-month CD, at 4.75%. But most Nationwide CDs had APYs of just 0.20%, which isn’t competitive with the top rates in the industry.

CD TERMS	APY	EARNINGS ON A $10,000 DEPOSIT
3 months	0.20%	$5
6 months	0.20%	$10
9 months	0.20%	$15.01
12 months	4.75%	$474.90
18 months	2.85%	$430.49
24 months	0.20%	$40.08
36 months	0.20%	$60.18
48 months	0.20%	$80.32
60 months	0.20%	$100.50

See MoreSee Less

How Nationwide rates compare

There is no shortage of CD providers offering a solid return on your dollars. You can open CDs with many types of financial institutions, including traditional banks, online banks, credit unions and insurance companies.

The table below shows how Nationwide compares to two other insurance companies: State Farm and USAA. As you can see, APYs vary significantly across providers and term lengths. For example, Nationwide offers 4.75% APY on its 12-month CD, while State Farm offers 0.05% APY and USAA offers 4.80% APY on CDs of the same term length.

TERMS	NATIONWIDE CD RATES (APY)	STATE FARM STANDARD CD RATES (APY)	USAA FIXED RATE CD RATES (APY)
3 months	0.20%	0.05%	0.05% (91 days)
6 months	0.20%	0.05%	5.05% (182 days)
9 months	0.20%	0.05%	4.90%
12 months	4.75%	0.05%	4.80%
18 months	2.85%	0.05%	4.60%
24 months	0.20%	0.05%	4.40%
36 months	0.20%	0.10%	2.75%
48 months	0.20%	0.15%	2.50%
60 months	0.20%	0.25%	2.50%

See MoreSee Less

Other products Nationwide offers

In addition to CDs, Nationwide offered a handful of other financial products through its partnership with Axos Bank:

• Checking accounts: Nationwide offered five checking accounts, each with unique benefits. Checking account perks included interest earnings, no fees, unlimited ATM reimbursements and more, depending on the account you chose.
• Savings accounts: Nationwide offered two savings accounts, both with modest APYs. The Nationwide My Savings account had no maintenance fee or minimum balance requirement, while the Nationwide Regular Savings account has a $300 daily balance requirement and a $3 monthly maintenance fee.
• Money market account: The Nationwide Money Market Plus account combines interest earnings with limited check-writing privileges. It had no monthly maintenance fee or minimum balance requirement. You can find the best money market accounts here.
• Loans: Nationwide offered a variety of loan products, including mortgages and personal loans.

Nationwide review

Nationwide was founded in 1926 as an auto insurer and has grown over the past century to become one of the largest insurance companies in the country.

It also offers business and personal banking products and services through its partnership with Axos Bank, a technology-driven financial services company founded in 2000.

Nationwide’s partnership with Axos Bank gave Nationwide members access to Axos Bank’s products and services. Because Axos is a federally chartered bank, its deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

Frequently asked questions (FAQs)