Nationwide Bank offers CDs across all standard terms ranging from three months to five years. The minimum deposit is just $500, making the account accessible to consumers across the income spectrum.
CDs automatically renew when they mature. Early withdrawal penalties vary depending on the length of the term. For example, with a 3-month or 6-month CD, the penalties for early exits are one and a half months of interest and three months of interest, respectively.
Other online banks pay higher yields.
No special types of CDs are currently available.
Part of the principal may be used to cover an early withdrawal penalty if not enough interest has been earned.