Chances are, you've seen or heard commercials promoting that Nationwide “is on your side” for insurance. But did you know they offer online bank products as well? Nationwide Insurance is an affiliate of Nationwide Bank. Although insurance products and services aren’t guaranteed by the FDIC or any federal agency, Nationwide Bank financial products like CDs are FDIC insured. And, right now, they’re offering some of the most competitive rates on the market for CDs and money market accounts.

The Nationwide money market account currently earns a 1.05% APY on all deposit amounts, but you must have an opening deposit of $1,000. Additionally, if you don't maintain a minimum $1,000 daily balance, an $8 monthly maintenance fee will be imposed. This account is best suited for people who don't need to access their money frequently. Although you do get two free non-Nationwide Bank ATM transactions per month, it will cost you $1.50 per ATM transaction thereafter. If you use a private ATM kiosk, you may still be charged a fee from the ATM owner, even if it’s one of your two free transactions. However, if you're looking for a stable place to store your deposit while still maintaining some liquidity, this could be a good option for you.

If you're willing to sacrifice liquidity for a higher interest rate, you may want to check out Nationwide’s CDs. These CDs only require a $500 minimum deposit, and have flexible terms ranging from three months to five years. A 12-month CD will earn you an even higher interest rate than the money market account: 1.15% APY up to balances of $99,999.999, over $100,000 earns 1.20%. If you can invest your money for even longer, you can earn up to 2.35% for a 60-month CD (or 2.40% for balances over $100,000).

Not sure if you can part with all of your savings for 5 years? You may want to try CD laddering, a technique I discuss in this previous BestCashCow article. If you ladder correctly, you should be never more than a year away from getting some of your funds. It can help you earn higher interest rates by taking advantage of rates offered by longer-term CDS, while getting you access to your money on a staggered rolling basis.

For the best information on CDs, click here.

We’ve all noticed how hard it is to earn a good APY on a secured deposit, like a CD, in today's market. Some of the best CDs available barely offer 2% APY, and most other accounts offer much lower. However, if you're looking for a secure place to store your money while earning one of the most competitive rates available, you may want to check out OneWest Bank’s online CDs.

OneWest Bank is Southern California's largest retail banking and lending institution, but you don't have to live in Southern California to open one of these CDs. If you're looking for something very short-term, you can open a three month CD at a 0.70% APY. Of course, the longer-term the CD is, the more interest you earn. For a three-year CD, OneWest Bank offers 1.80% APY, or you can earn 2.55% if you open a five-year CD.

While you are unable to withdraw your principal without penalty, you can withdraw available interest at any time during the term of the CD with no penalty whatsoever. If you find you have to cash out of your CD entirely before the CD maturity date, there is a sliding penalty scale based on how long you've held the CD.

All OneWest Bank CDs require a minimum deposit of $1,000. Interest is compounded daily and paid monthly, quarterly, or at maturity. If your balance falls below $1,000, there will be no interest earned. As such, this product is best geared towards people want a secured place (subject to FDIC limits) to store money while earning one of the best APYs available for CDs on the market today.

For the best information on CD rates, click here.

Massena Savings and Loan is paying 2.56% APY on a 3-year CD. That's one of the highest rates according to BestCashCow data.

For comparison, the best 3 year CD rate for an online account is 2% APY with a $100,000 minimum balance. The minimum balance for the Massena CD is $1,000. The catch is that the CD is only available in Massena's limited footpring of update New York. The bank has two branches in Massena, NY and Waddington, NY. I called them and they do not accept applications via phone or online.

But even if you don't live in Massena's footprint, other local banks are offering very competitive rates. For example, Adrian State Bank in Adrian, MN is offering a 3-year CD for 2.51% APY and Gibraltar Private Bank & Trust Co. in Coral Gables, FL is offering a 2.50% APY 3-year CD. Before you open any account be sure to check local CD rates by clicking through to our tables to find the most competitive offer in your area. BestCashCow provides competitive local bank rates for every zip code in the country.

A high rate does not mean a risky bank. Massena has $138 million in assets (a small bank) and a Texas ratio of 16.08% versus the national average of 24.44% (the lower the ratio, the better). Deposits at Massena are FDIC insured.