How does it work?
When you purchase a Nationwide Platinum V Plus annuity:
- You’ll receive a base interest rate for the first year
- That rate will increase 0.15% each year during years 2-5 (cumulative)
- In the sixth year, you’ll receive a renewal base interest rate
- You can decide to keep your money in the contract at the new base rate or withdraw it CDSC-free; withdrawal request must be received within the first 60 days of the sixth year; withdrawals may be subject to tax; if taken before age 59½, a 10% early withdrawal federal tax penalty may apply
- If you keep your money in the contract, the base interest rate offered in the sixth year will increase 0.15% each year during years 7-10 (cumulative)
- After year 10, you’ll receive yearly renewal interest rates guaranteed to not be less than 1%
Additional interest rates
If your initial purchase payment is equal to or greater than $100,000, an additional interest rate credit may be available. The additional interest rate credit is not a contractual agreement and is not guaranteed to be included within renewal rates declared in the future. See your financial advisor for more details.