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Nationwide Bank Drastically Reduces CD Rates

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