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Nationwide Bank Drastically Reduces CD Rates

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Nationwide Bank has drastically reduced CD rates on intermediate and long term certificates of deposit. The CD rate changes are some of the largest changes we have seen in a while. Nationwide Bank CD rates were competitive on 2 to 5 year certificates of deposit but not with the recent rate reduction.

The largest rate reduction was on Nationwide Bank's 5 year certificate of deposit, which was reduced by 33 basis points. The 5 year CD rate was lowered to 1.61 percent with a yield of 1.62 percent. The prior 5 year rate was 1.93 percent with a yield of 1.95 percent. The best 5 year CD rate in our database is currently much higher at 2.03 percent with a yield of 2.05 percent from Synchrony Bank.

5 year jumbo CD rates at Nationwide Bank were also lowered 33 basis points. The new 5 year jumbo CD rate is 1.66 percent with a yield of 1.67 percent. The previous 5 year jumbo rate was 1.98 percent with a yield of 2.00 percent. The highest 5 year jumbo CD rate in our database is also from Synchrony Bank at 2.03 percent with a yield of 2.05 percent from Synchrony Bank.

Listed below is a complete list of CD rate changes at Nationwide Bank.

Nationwide Bank CD Rate Changes

BankProductRate (New / Old)Yield (New / Old)
Nationwide Bank2 yr CD1.11 / 1.411.12 / 1.42
Nationwide Bank3 yr CD1.27 / 1.541.28 / 1.55
Nationwide Bank5 yr CD1.61 / 1.931.62 / 1.95
Nationwide Bank5 yr jumbo CD1.66 / 1.981.67 / 2.00
Nationwide Bank2 yr jumbo CD1.16 / 1.461.17 / 1.47
Nationwide Bank3 yr jumbo CD1.32 / 1.591.33 / 1.60
Nationwide Bank4 yr CD1.55 / 1.741.56 / 1.76
Nationwide Bank4 yr jumbo CD1.6 / 1.791.61 / 1.81





 
Author: Brian McKay
August 9th, 2016